Euro drop falling against peso ?

[chico bill]

I see the euro fell below the dollar today for the first time in 20+ years.
I would like to hear from Europeans who came here to live or vacation & how they expect it to affect them - and this on top of the already out of control inflation

 

[drstock]

Sorry, I can't respond directly, as the part of Europe I come from does not use the Euro, although the British pound has the same problem. However, I do have French clients and they pay me in Euros, which is bad for me as the amount of pesos I get is lower all the time. The French aren't happy either, because their Euros buy less pesos almost every day. It's not so much the strength of the dollar against the Euro that is the problem for Europeans here, but the even greater strength of the DR peso.

 

[D'Arcy (Apostropheman)]

I'm watching the Euro and soon will buy more. I always look to "buy the dip". The question is...how much lower will it go and how long until it starts and continues to rise. Timing is everything

No, I'm not a currency trader but I do have a use for Euros....

 

[CristoRey]

While living in the EU back in 2006/07 it was usd 1.39 for a euro, which i think traded around 45.5 dop.

 

[cavok]

At Caribe Express in Sosua today it was 54.1 to the Dollar and only 53.2 to the Euro.

 

[SKY]

Current up to the minute rate. This is not the rate in the DR, but the International Rate of exchange at the moment. Basically about EVEN...........

1 USD = 0.9978 EUR
1 EUR = 1.0022 USD
(7/14/22 6:22 PM)

 

[fuchs4d]

I see the euro fell below the dollar today for the first time in 20+ years.
I would like to hear from Europeans who came here to live or vacation & how they expect it to affect them - and this on top of the already out of control inflation

Dollar and Euro both are contantly loosing value against goods and services like bananas, drugs and nursing.
For the moment the Euro is loosing its value faster.

It affects me in that I have to send a lot more Euros in order to support my loved ones at the same level.
Especially for treatment of falsemica, which requires regular blood transfusion and medication for which the price in pesos went up a lot.

I expect and am reasonable sure about a total meltdown of economy and purchasing power of both the USA and Europe.
Airline tickets will rise, maybe double or tripple this and next year up to the point that airlines will cancel flight routes.
Products imported from China like Smartphones and all other will get more expensive.
Great depression like 1929 ahead.
For the DR it means a collapse of the tourist and construction industrie. For this reason I think the planned destruction of the Sosua beach is not going to happen.

In short: total desaster ahead, but this is business as usual in the DR.
The DR is a good place to be in this interesting times.

Interesting times brings me to China.

I like to open a bank account with the Chinese currency with a UnionPay credit card.

In the long run;
Renminbi will replace Dollar and Euro.
AliExpress will replace Amazon.
Tourists from China and Russia will replace north americans and europeans,

Alexander

 

[chico bill]

Dollar and Euro both are contantly loosing value against goods and services like bananas, drugs and nursing.
For the moment the Euro is loosing its value faster.

It affects me in that I have to send a lot more Euros in order to support my loved ones at the same level.
Especially for treatment of falsemica, which requires regular blood transfusion and medication for which the price in pesos went up a lot.

I expect and am reasonable sure about a total meltdown of economy and purchasing power of both the USA and Europe.
Airline tickets will rise, maybe double or tripple this and next year up to the point that airlines will cancel flight routes.
Products imported from China like Smartphones and all other will get more expensive.
Great depression like 1929 ahead.
For the DR it means a collapse of the tourist and construction industrie. For this reason I think the planned destruction of the Sosua beach is not going to happen.

In short: total desaster ahead, but this is business as usual in the DR.
The DR is a good place to be in this interesting times.

Interesting times brings me to China.

I like to open a bank account with the Chinese currency with a UnionPay credit card.

In the long run;
Renminbi will replace Dollar and Euro.
AliExpress will replace Amazon.
Tourists from China and Russia will replace north americans and europeans,

Alexander

Ever order anything from Aliexpress? Be it pesos, dollars or euros they don't deliver timely and you'd be crazy to give them your credit card.
Depression maybe?
But I can't see that any level of downturn leaving DR untouched - so it may not be the refuge we all hope.

 

[fuchs4d]

But it is a time to put a few more Euros in the account.
If nothing more than store of value to use in the future.

The EU commited suicide.
Here in Germany factories shut down in masses, because electricity and gas is 3 to 4 times more xpenive.
No factory and industrie that goes out of business will come back.
Gas supply from Russia stopped now and if it will restart is not certain.
Germany stops all import of coal 1st of august
The last 3 nuclear power plants shut down end of the year.
In cities they plan heating halls for the poor or in case there simply is no gas for heating.

Germany, Europe and Euro are finished. Game over.
They lost a war without bombs and most people did not even notice.
Problem with Germany was that it always came back. This time not, because culture and education were destroyed and no more scientific advantage and too many financial legacys.
Euro will loose against the dollar more and both loose their purchasing power.
If you want conserve your purchasing power buy gold and silver coins.


Alexander

 

[D'Arcy (Apostropheman)]

The EU will be just fine and Russia will be the one scrambling. Fortunately, while the unprovoked war and war crimes perpetrated against Ukraine by Russia is terrible, it has brought most of the World together. Soon enough the EU and other countries and groupos will figure out how to do without anything from Russia and bet better and stronger for it. Even Ukraine will one day return and be stronger and better protected.

All the Chicken Little, "the sky is falling" panic and negativity will prove to be false, and in fact the World except for Russia and any remaining allies will be improved.

Meanwhile I'm watching and considering and am about to buy me some more euros

 

[NotLurking]

I don't see the euro recovering in the next few months. As the demand for fuel continues strong and poised to increase in the winter the economic power house of Europe, Germany, is in a bad predicament. With it's heavy dependency on Russian gas, the high inflation of 7.6% and the low consumer sentiment things are not looking up for Germany and the euro. The euro's saving grace against the US dollar is perhaps that the US economy is also in trouble. Germany has many problems to deal with that have been exacerbated by the Russian Ukrainian war.

Germany Teeters on the Brink of Energy Disaster - Global Food Crisis Looms says Friends of Science

/PRNewswire-PRWeb/ -- The Financial Post of July 09, 2022, reported that Canada will release a sanctioned, overhauled gas turbine to Germany, for use in...

www.prweb.com

Chemical giant's plant may close due to gas shortage - WSJ

Germany's BASF may shut down its biggest facility due to reduced Russian gas supply, the newspaper reports German chemicals major B

www.australiannews.net

Dr Frank Yap, M.D.: 'LeKaren' James’ Eldest Son’s Sudden Cardiac Arrest, Physician Recommends 4 Heart-Healthy Foods; There was a significant increase in myocarditis cases following the initial rollout | USSA News | The Tea Party's Front Page.

By Dr Frank Yap, M.D. - August 14, 2023Bronny James, the 18-year-old son of NBA Lakers star 'LeKaren' James, experienced a sudden cardiac arrest during basketball training at the University of Southern Commie California on July 25, 2023 and was immediately taken to the hospital. He was...

ussanews.com

 

[Liberator]

I see the euro fell below the dollar today for the first time in 20+ years.
I would like to hear from Europeans who came here to live or vacation & how they expect it to affect them - and this on top of the already out of control inflation

In general; costs of living in DR are more friendly than in Europe. That's, for decades, the first saving (Although, filling your shopping car at the Nacional is just as expensive as in Europe, so I've changed my behaviour on this). But also the costs of living in DR are increasing extremely recently (also with a cheap $)
Current exchange rate € versus $ has more impact on purchasing a ticket, that's a big change for sure and a reason to skip a visit.
Car rental; I stopped years ago. Only uber and guagua,

The longer I stay, the more I adapt to local life Although there is always a safety net for unforeseen expenses.

 

[chico bill]

I imagine tourism to and from Europe will be reduced because of the etreating Euro but more likely because of high inflation within Europe and more expensive airline tickets.

A 2-hour flight from POP to Miami cost me over $800 last month - that is a deal breaker.
Used to buy it for around $350

 

[Liberator]

I imagine tourism to and from Europe will be reduced because of the etreating Euro but more likely because of high inflation within Europe and more expensive airline tickets.

A 2-hour flight from POP to Miami cost me over $800 last month - that is a deal breaker.
Used to buy it for around $350

From Europe there are various options:
KLM, AirFrance, TUI, Iberia, Lufthansa, but it looks they are all offering prices from the same database , even checking with a VPN from a different location does not give you any profit finding cheap tickets...

 

[playacaribe2]

I don't see the euro recovering in the next few months. As the demand for fuel continues strong and poised to increase in the winter the economic power house of Europe, Germany, is in a bad predicament. With it's heavy dependency on Russian gas, the high inflation of 7.6% and the low consumer sentiment things are not looking up for Germany and the euro. The euro's saving grace against the US dollar is perhaps that the US economy is also in trouble. Germany has many problems to deal with that have been exacerbated by the Russian Ukrainian war.

Germany Teeters on the Brink of Energy Disaster - Global Food Crisis Looms says Friends of Science

/PRNewswire-PRWeb/ -- The Financial Post of July 09, 2022, reported that Canada will release a sanctioned, overhauled gas turbine to Germany, for use in...

www.prweb.com

Chemical giant's plant may close due to gas shortage - WSJ

Germany's BASF may shut down its biggest facility due to reduced Russian gas supply, the newspaper reports German chemicals major B

www.australiannews.net

Dr Frank Yap, M.D.: 'LeKaren' James’ Eldest Son’s Sudden Cardiac Arrest, Physician Recommends 4 Heart-Healthy Foods; There was a significant increase in myocarditis cases following the initial rollout | USSA News | The Tea Party's Front Page.

By Dr Frank Yap, M.D. - August 14, 2023Bronny James, the 18-year-old son of NBA Lakers star 'LeKaren' James, experienced a sudden cardiac arrest during basketball training at the University of Southern Commie California on July 25, 2023 and was immediately taken to the hospital. He was...

ussanews.com

Unless and until interest rates rise across the EU and/or the DR lowers its rate, the Euro will remain weak against the peso...........and at this point, given the multitude of issues currently facing both the DR and the EU, neither looks likely to happen.

Respectfully,
Playacaribe2

 

[windeguy]

I was expecting more countries to exit the EU after BREXIT, which I would imagine will weaken the EURO considerably against all currencies.
What is the experts opinion on more countries pulling out of that union over time?

I do agree that the Petro Dollar, one big reason for USD strength, is going to be challenged by China.
We are in for unstable times. Gold and Silver? Probably a better bet than Crypto pyramid schemes, but then who really knows.

 

[AlterEgo]

Remember to keep replies relative to Euro vs Peso.

 

[Yourmaninvegas]

I was expecting more countries to exit the EU after BREXIT, which I would imagine will weaken the EURO considerably against all currencies.
What is the experts opinion on more countries pulling out of that union over time?

I do agree that the Petro Dollar, one big reason for USD strength, is going to be challenged by China.
We are in for unstable times. Gold and Silver? Probably a better bet than Crypto pyramid schemes, but then who really knows.

I would rather own BTC and ETH over gold and silver. Gold chain maybe.
A collective of countries on the African continent will also challenge the USD and the EURO.
There is no real value in any fiat currency other than belief if you really think about it.

I would think that people who make their money in EUROs are managing their finances in the same way as those that are making their money in USD.
They are making far more EUROs than they need to spend in order to buy DOP that they use to finance their lives in the Dominican Republic and the current drop against the DOP is insignificant to most.

 

[chico bill]

Good article on Euro drop on Yahoo today.

Why the soaring dollar and crashing euro are rattling global markets: Morning Brief

What to watch in markets on Friday, July 15, 2022.

finance.yahoo.com

 

[drstock]

I was expecting more countries to exit the EU after BREXIT, which I would imagine will weaken the EURO considerably against all currencies.
What is the experts opinion on more countries pulling out of that union over time?

I'm not an expert, but in the opinion of myself and most Brits I know, BREXIT has been a disaster for the UK. I would be very surprised to see any other country leaving the EU.