March 14, 2008

Euros accepted in New York

The strength of the Euro cannot be denied these days, it is not the Mickey Mouse currency that many people believed that it would be. But the biggest casualty of the Euros success has to the US Dollar. This has been seen to slip further and further down, so much so that travelling to the states for a quick shopping day has become a worth while reality.

Stores in the Big Apple has realised this and so to help out their European customers they are providing prices in Euros, which is very similar to how we see price tag over here in the UK. By showing these prices stores are getting a huge advantage over those who do not, simply because it is easier for the customer to work out the price comparison.

The problem is that if this gets out of hand, there will be a non currency exchange economy, this is where Europeans travel to the states and spend euros, and then American will travel to Europe and pay in Euros, it going to hurt the banks.

Source [USA Today]