The Euro and Dollar Are at Parity

The euro hit $1 this morning, and now travelers with dollars have an opportunity to save 15 percent on purchases. Not all European countries use the euro, but it is the official currency in 19 out of 27 of them.

One trigger for the decline of the euro is the ongoing war in Ukraine, which has fueled fear of an energy crunch and recession. Another trigger is U.S. interest rates moving sharply higher.