15 Destinations Where You Will Get the Most Value for US Dollar
Ordering foreign currency is easy with OnlineFX.The U.S. dollar continues to gain strength against foreign currency. The greenback has made some sizeable movements when compared to many currencies around the globe, especially commodity-based economies. Looking at April 2019 vs April 2020, we see a prime example with the Mexican peso is down 27% vs the U.S. dollar meaning you get more pesos for every dollar. Another currency, the Australian dollar, also lost double-digit value vs the U.S. dollar down more than 12%.
Widely the U.S. dollar gained more than 5% against most major currencies and even 3.5% against the euro. "The dollar does well in global recessions,” said Momtchil Pojarliev, head of currencies at BNP Asset Management in New York. With the prospect of an upcoming recession, many investors will fall back to the U.S. dollar as a safe-haven currency, increasing its value even further. The rise of the dollar is definitely a danger for other emerging markets.
Another evaluation of how far your dollar will go is to use comparative price level indices. The comparative price level indices are the ratios of purchasing power parities to market exchange rates. At the level of GDP, comparative price levels provide a measure of the differences in the general price levels of a basket of consumer goods and services in countries. This indicator is measured as an index and produced by the Organisation for Economic Co-operation and Development.
Top 15 countries where the US dollar has gained the most value since this time last year
It is a good time to look into traveling to some of the world’s best destinations. According to Sarah Schlichter, a senior editor at SmarterTravel, told Travel + Leisure, "Japan and Norway are not cheap; however, if you want to visit them now is a good time." Or if visiting the country is not in the cards at the moment, we suggest planning for a trip. Buying foreign currency now could provide some significant savings if global currencies regain some strength as their economies get back on track.
For a better insight on airfares, Expedia has provided a 2019 Air Travel Outlook report. From the report, here are some money-saving tips for travel:
1. Book flights at least three weeks ahead of travel
2. Book flights on a weekend
3. Book hotels on a Friday night
4. Start the journey on a Thursday or Friday
5. Extend short, weekday-only trips to include a Saturday night
1. Argentina - Argentine Peso (ARS)
- Currency exchange rate change (June 2019 - June 2020): -34.98%
- Average cost for round-trip flights: $971
- Cheapest month to book a flight: September
2. Australia - Australian Dollar (AUD)
- Currency exchange rate change (June 2019 - June 2020): -1.06%
- Average cost for round-trip flights: $898
- Cheapest month to book a flight: March
3. Austria - European Euro (EUR)
- Currency exchange rate change (June 2019 - June 2020): 0.04%
- Average cost for round-trip flights: $1,147
- Cheapest month to book a flight: March
4. Brazil - Brazilian Real (BRL)
- Currency exchange rate change (June 2019 - June 2020): -24.35%
- Average cost for round-trip flights: $817
- Cheapest month to book a flight: August
5. Canada - Canadian Dollar (CAD)
- Currency exchange rate change (June 2019 - June 2020): -0.74%
- Average cost for round-trip flights: $261
- Cheapest month to book a flight: September
6. Chile - Chilean Peso (CLP)
- Currency exchange rate change (June 2019 - June 2020): -14.29%
- Average cost for round-trip flights: $999
- Cheapest month to book a flight: August
7. Colombia - Colombian Peso (COP)
- Currency exchange rate change (June 2019 - June 2020): -33.33%
- Average cost for round-trip flights: $497
- Cheapest month to book a flight: February
8. India - Indian Rupee (INR)
- Currency exchange rate change (June 2019 - June 2020): -8.33%
- Average cost for round-trip flights: $1,374
- Cheapest month to book a flight: August
9. Mexico - Mexican Peso (MXN)
- Currency exchange rate change (June 2019 - June 2020): -10.76%
- Average cost for round-trip flights: $241
- Cheapest month to book a flight: May
10. New Zealand - New Zealand Dollar (NZD)
- Currency exchange rate change (June 2019 - June 2020): -2.62%
- Average cost for round-trip flights: $1,027
- Cheapest month to book a flight: May
11. Norway - Norwegian Krone (NOK)
- Currency exchange rate change (June 2019 - June 2020): -7.67%
- Average cost for round-trip flights: $986
- Cheapest month to book a flight: February
12. Poland - Polish Zloty (PLN)
- Currency exchange rate change (June 2019 - June 2020): -3.35%
- Average cost for round-trip flights: $1,429
- Cheapest month to book a flight: January
13. Russia - Russian Ruble (RUB)
- Currency exchange rate change (June 2019 - June 2020): -5.88%
- Average cost for round-trip flights: $1,101
- Cheapest month to book a flight: February
14. Seychelles - Seychellois Rupee (SCR)
- Currency exchange rate change (June 2019 - June 2020): -22.30%
- Average cost for round-trip flights: $2,218
- Cheapest month to book a flight: March
15. Turkey - Turkish Lira (TRY)
- Currency exchange rate change (June 2019 - June 2020): -14.55%
- Average cost for round-trip flights: $1,166
- Cheapest month to book a flight: January
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