It then fell below the 99-cent mark, hitting a 20-year low of $0.9881 on 5 September, as Russia indefinitely halted supplies of gas via its main pipeline to Europe. It kicked off 2022 at $1.1370, then rose to $1.1495 in early February, before falling to a low of $1.0350 on 13 May – levels last seen in January 2017.įrom here, the pair attempted to rebound, rising to $1.0650 at the beginning of June, before falling again and breaking euro parity with the US dollar on 13 July, marking a 20-year low.ĮUR/USD rebounded to $1.036 by 11 August, but the growth would be short-lived. The currency pair slid down sharply in the space of a week, breaking parity once more on 22 August. How did the euro trade in 2022?ĮUR/USD had a steady downtrend across the last year. If you travel often and don't already have a no foreign transaction fee credit card, you may want to consider applying for one.Read on for the latest euro news, as well as analysts’ euro predictions for 2023 and beyond. Apply for a card with no foreign transaction fees

You can also convert currency at the airport should you need some last-minute funds, but remember that some airports charge a higher percentage for currency exchange. You can convert the money at your home bank or order the currency online and take it with you. Get an idea of how much cash you'll need before your trip. But also, you might find yourself in a location where credit cards aren't widely accepted. You may not want to walk around an unfamiliar place with a ton of cash.

If you opt to pay with the local currency, your bank will deal with the conversion and likely give you a better rate. This practice is called dynamic currency conversion. If you choose USD, the merchant decides the exchange rate, which could be inflated. That way, you're able to pay for everything using the local currency, without having to worry about vendors along your trip not accepting USD. Choosing the local currency may be the better move here. If you're using your credit card for a purchase in another country, you may be asked if you'd like to use USD or the local currency. But there are other ways to get around added fees while traveling. The easiest way to avoid foreign transaction fees is to get a credit card that doesn't apply them, if you don't already have one. But there are issuers that do not impose foreign transaction fees on the cardmember as well. It also includes websites based outside of the U.S.įoreign transaction fees typically range from one to three percent on average. This isn't just limited to brick-and-mortar locations abroad. What is a foreign transaction fee?Ī foreign transaction fee is a charge assessed by your credit card issuer on transactions made in any currency other than U.S. Foreign transaction fees, also called foreign purchase transaction fees or foreign currency transaction fees, are important to consider when using any form of electronic payment while traveling abroad.

Euro exchange rate to dollar