Young couple walk towards the Roman Forum in Rome as sun sets.

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If you’re an American who is planning a trip to Europe, you may be able to benefit from favorable exchange rates. The U.S. dollar and the euro are now equal in value for the first time in two decades. What does this mean for tourists? Since the U.S. dollar will go further in many European countries, could this be a good time to plan a vacation?

The euro continues to lose value against the U.S. dollar. In the early morning of July 12, the U.S. dollar matched the euro for the first time in years. This is big news and not typical.

Around this time last year, $1 U.S. dollar was worth around 0.84 euro. At that time, $500 would equal around 420 euros. When the U.S. dollar and the euro match, $500 equals 500 euros.

This is a big difference. The last time the currencies were equal was in late 2002.

Your money will go further

What does this mean for American tourists going to Europe? American travelers can benefit from the U.S. dollar being equal to the euro.

Your money will go further than it usually would when traveling in countries where the euro is the official currency. While the euro isn’t accepted in all parts of Europe, 19 countries use this currency.

It’s also easier to figure out how much something costs when currencies are close to or equal in value, eliminating the need to use a currency calculator app while traveling.

Should you plan a European vacation?

With favorable exchange rates, you may wonder if now is a good time to take a European vacation. You’ll likely benefit if you already have a trip starting in the coming weeks or days.

For those who have yet to make trip plans, make

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