Lately the economic news from around the world has been, by and large, doom and gloom. The world is facing an economic crisis of unprecedented severity and governments around the globe are trying to stimulate the economy. Stock markets in the US, Europe, and Asia have been volatile to say the least. Despite the dismal state of the US economy the dollar has held steady and has actually increased against many world currencies on Forex markets. Analysts are at a loss to explain the performance of the US dollar which some have described as a levitating act. For those in the US fortunate enough to have disposable income for travel the performance of the US dollar is offering the opportunities for bargain travel. For US travelers the strong dollar means bargain rates in several countries. In Mexico, for example, a year ago the dollar was worth 10.50 pesos. This year travelers can expect 12 to 13 Pesos for a dollar. Mexico is a popular destination for US travelers and has always offered moderately priced vacations and the strength of the dollar makes Mexico a real bargain for vacationers. The exotic island of Bali has always been popular with US travelers and offers incredibly cheap vacation opportunities. Due to the performance of the US dollar on Forex markets Bali will become even cheaper. The Indonesian Rupiah has continued to decline against the dollar. Last year the Rupiah traded for 9,073 Rupiah while this year it is trading for 10,000 Rupiah making Bali one of the least expensive destinations for those seeking an exotic vacation spot. Although most US travelers do not consider Iceland to be a vacation destination the country does have many interesting features. Iceland sits atop the mid Atlantic plate and has extensive geothermal activity. Icecaps and glaciers, spouting geysers, volcanoes, raging rivers and magnificent waterfalls, and whale watching are all part of an Icelandic vacation. The capital, Reykjavik's, has many geothermal baths that have to be seen to be believed. Last year the Icelandic kronur traded at 60 against the dollar. This year a dollar will trade for 110 kronur for a dollar which means the dollar is worth almost twice as much as last year making Iceland extremely affordable. For those considering a visit down under? Current exchange rates make Australia a real bargain. As recently as six months ago the Australian dollar traded at par with the US dollar but is now trading for $1.40-$1.50 against the US dollar. Australia is now 40%-50% cheaper for the American tourist. Australia has amazing beaches, astounding wildlife, and hotels and other accommodations are considerably less expensive than their American counterparts. While the Euro has declined 10% against the dollar the shift has not been enough to lower travel expenses and Europe remains incredibly expensive. In Canada the US dollar is worth $1.20 Canadian giving American tourists a 20% edge. Unfortunately all this comes at a time when most Americans are tightening their belts and eliminating unnecessary expenses. America has been bleeding jobs for the past eight years and those who can afford a domestic vacation consider themselves fortunate. Hopefully the US dollar will continue to perform well in Forex exchanges until the economy recovers and we can all benefit from the strong dollar.
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