Stretching a weak dollar
Americans planning trips to Europe this summer can minimize their vacation costs, should the dollar drop further, by carefully planning now. According to a report in The New York Times, one of the best ways to hedge your investment is to purchase all-inclusive travel. Another tip is to prepay for as much of the trip as possible. “The more you can buy in advance, the better,” said Assen Vassilev, co-founder of Lessno.com, an online travel agency that specializes in discount trips to Europe. By prepaying in dollars, he told the Times, “you’re not exposed to fluctuations in the euro” and travelers can also “avoid international fees from credit cards or having to pay exchange fees.” Travelers may also consider buying foreign currency now for their summer trip… just in case the dollar declines even further.
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