Are you planning a summer vacation out of the country this year? If so, there's a good chance it's going to be more expensive than you originally thought.
That's because the U.S. dollar is down close to 10% from where it was at the start of the year — driven in part by economic uncertainty amid the ongoing tariff debate going on around the globe.
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Last year, thousand of Americans took advantage of a strong dollar to justify overseas trips. This summer, however, is expected to be a different story as restaurants and hotels in Europe and Asia are expected to cost Americans more.
A weak U.S. dollar isn't all bad news, though, for American companies that export goods overseas. That's because international buyers may be more inclined to purchase more, since $1 million worth of product isn't as expensive as it was at the end of last year.
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The dollar is still, however, considered one of the most stable currencies in the world. But its declining value has some experts wondering if its dominance is in decline.
The U.S. dollar does have a history of fluctuating — and big swings are common. For instance, in the summer of 2023, many headlines questioned the dollar's shine. By the fall of that year, meanwhile, the dollar was king again.
