The dollar is climbing mainly because the Federal Reserve is raising interest rates more aggressively than central banks in other countries are in its effort to cool the hottest U.S. The euro is now worth slightly less than $1.02.

Dollar Index, which measures the value of American money against six major foreign currencies, has jumped nearly 12% this year to a two-decade high. A strengthened dollar also delivers bargains to American tourists sightseeing in Europe. including cars, computers, toys and medical equipment - become less expensive. Yet there’s a positive side for Americans too: A stronger buck provides modest relief from runaway inflation because the vast array of goods that are imported to the U.S.

exports were to weaken as a result, so too would the already-slowing U.S. That trend threatens to hurt American companies because their goods become more expensive for foreign buyers. dollar has been surging so much that it’s nearly equal in value to the euro for the first time in 20 years.

20 euro cent to usd