Euro > USD: Italia

The exchange rate from the euro to the dollar has fluctuated since its inception, the exchange rates for several years, per Statista, are as follows- 2002: .95, 2007: 1.37, and 2016: 1.11.  I think the exchange rate does change how people perceive a country or its products, for instance if a country has a higher exchange rate it implies that they have a stronger, more profitable economy. The higher euro to dollar exchange rate did not change my perception in Italy, because I know that both the Italian government and economy are not the best in the EU, so needless to say I know they are not the one’s contributing to the higher exchange rate. If the exchange rate was lower, I think I might spend some more money in Italy, because my money would be worth more here instead of less, so while I do still shop and spend money I am more mindful about what I am spending, because I know the price I see on the price tag is not the actual price I am paying. I hate to say this, but in my opinion the price of alcohol is one of the biggest differences I have noticed between Italy and America, here in Italy you can buy a bottle of wine, or a six pack of Corona beer for under two euros, whereas in America even cheap wine costs about $8-10 dollars, and a pack of Corona is around $10-12 dollars. Also, eating out is relatively cheaper overall, obviously if you are in a tourist area you will encounter high prices, but you can find a lot of affordable meals in Italy, whereas in America, besides college towns you usually cannot eat for less than $7 and if you want a drink you are almost at $10. The other day when we were waiting for our train I got a sandwich and a fruit juice for 4.70 euro and my friend got a cappuccino and a croissant for 2 euro, that is quite unheard of in the states. I think food is a bit overpriced in America, but or average salary is higher than that of an Italian, so maybe it is all relative, that I would have to do more research one before giving a concrete statement.

 

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