If you had India on your short list or you’re planning how fast to get there on your round-the-world journey, take a look at the exchange rate right now and that might sway you.
In the quirky way that world currency markets work, Europe’s troubles are the U.S. dollar’s gains, despite all the problems on this home front. So while it may be short-lived, we’ve entered one of those periods where this is a good time to visit some countries because you can get a lot more for your money on the ground.
Take a look at that chart above. You don’t see a dramatic spike like that very often and when you do it spells big opportunity—an imbalance that hasn’t had time to right itself. Prices haven’t risen in rupees, but you’re getting a lot more rupees for your dollars.
After moving in a fairly narrow range from 44 to 46 most of the past two years, the rate is now more than 52 to the dollar. That’s an 18 percent rise from the bottom. Plus in India you really can buy something for that 8 rupees extra. A few samosas at least. A cup of tea on the street. Or a bunch of bananas.
Or look at it this way: that extra 8 rupees the tuk-tuk driver is trying to charge you isn’t worth stressing about. You just got it as a bonus.
India was already near the top of the list of the cheapest places to travel in the world. If you’re traveling with dollars, it’s looking even better right now.