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Wednesday, October 16, 2019

15 Destinations Where You Will Get the Most Value for US Dollar

15 Destinations Where You Will Get the Most Value for US Dollar

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There are a lot of reasons why people may be shocked to see the US dollar standing so resolute at the top of the international currency food chain. The U.S. - China trade war, for one, was something most anticipated to hurt the value of our nation's currency, however it appears to have greater impacts on the global trading system. Europe has seen many of its economies slowing. Additionally, the UK's impending Brexit will leave the EU budget down by 5%, something that's expected to raise many financial issues in the Euro zone.

Moreover, as China is also a major global economic power, a fair amount of countries in Asia and even South America are suffering. A representative from Japan said that "capital spending by the country’s manufacturers fell 6.9%, the first decline in two years, as companies grappled with a nearly double-digit decline in exports to China. South Korea also reported that its exports to China fell to an overall 13.6% decline in exports." 

Where is US currency worth the most?

With all this being said, for Americans who are looking to travel internationally, now is the time to take that dream vacation to Amsterdam or Tokyo, or any of the 15 destinations we've listed below. For greater insight on how your USD will translate to international curreny as well as foreign goods and services, we've made note of each country's price level index in comparison to the dollar.

These comparative price level indices provide a measure of the differences in the general price levels of each country listed below. For example, if the U.S. price level index is 113, and Poland's is 48, then a basket of groceries worth $100 USD in the states would actually translate to $42 in Poland.

 

Source: OECD (2019), Price level indices (indicator). doi: 10.1787/c0266784-en (Accessed on 15 October 2019)

1. Poland

Krakow City in Poland

  • Price level index: 56.00 to the USD 113.00 = $49 per $100 USD purchase of goods
  • Currency used in Poland: Order Polish zloty (PLN)
  • Cheapest time of the year to travel to Poland: January

2. Hungary

Budapest Hungary

3. Brazil 

Copacabana Brazil

4. Greece

Beach in Karpathos Greece

  • Price level index: 78.00 to the USD 113.00 = $69 per $100 USD purchase of goods
  • Currency used in Greece: Order European euros (EUR)
  • Cheapest time of the year to travel to Greece: February

5. Italy

Vernazza Italy

  • Price level index: 93.00 to the USD 113.00 = $82 per $100 USD purchase of goods
  • Currency used in Italy: Order European euros (EUR)
  • Cheapest time of the year to travel to Italy: February

6. Mexico

Beaches in Cancun Mexico

7. South Africa

Cape Point South Africa

8. Indonesia

Bali Indonesia

9. Russia

St. Basil's Cathedral in Moscow Russia

  • Price level index: 46.00 to the USD 113.00 = $40 per $100 USD purchase of goods
  • Currency used in Russia: Order Russian rubles (RUB)
  • Cheapest time of the year to travel to Russia: January

10. Estonia

Medieval Old Town of Tallin, Estonia

  • Price level index: 73.00 to the USD 113.00 = $64 per $100 USD purchase of goods
  • Currency used in Estonia: Order European euros (EUR)
  • Cheapest time of the year to travel to Estonia: November

11. China 

Great wall of China in Beijing, China

12. India

Taj Mahal, India

  • Price level index: 30.00 to the USD 113.00 = $26 per $100 USD purchase of goods
  • Currency used in India: Order Indian rupee (INR)
  • Cheapest time of the year to travel to India: March

13. Chile

Patagonia, Chile

  • Price level index: 71.00 to the USD 113.00 = $62 per $100 USD purchase of goods
  • Currency used in Chile: Order Chilean pesos (CLP)
  • Cheapest time of the year to travel to Chile: May

14. Colombia

Cartagena Colombia

  • Price level index: 63.00 to the USD 113.00 = $55 per $100 USD purchase of goods
  • Currency used in Colombia: Order Colombian pesos (COP)
  • Cheapest time of the year to travel to Colombia: March

15. South Korea 

Temple and Haeundae Sea, Busan

  • Price level index: 88.00 to the USD 113.00 = $77 per $100 USD purchase of goods
  • Currency used in South Korea: Order South Korean Won (KRW)
  • Cheapest time of the year to travel to South Korea: March

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About Currency Exchange International
Currency Exchange International, CXI, is the leading provider of comprehensive foreign exchange services, risk management solutions and integrated international payments processing technology in North America. CXI’s relationship-driven approach ensures clients receive tailored solutions and world-class customer service. Through innovative and trusted FX software platforms, CXI delivers versatile foreign exchange services to our clients, so that they can efficiently manage and streamline their foreign currency and global payment needs. CXI is a trusted partner among financial institutions, corporations and retail markets around the world. To learn more, visit: www.ceifx.com

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Posted By Jacquelyn McMullen at 10:00 AM
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