Friday, October 19, 2007

Currencies

Despite the fact that I haven't gotten a raise in over a year of working in Switzerland, I am making more money than before, at least in US dollar amounts. The falling dollar only makes the Swiss Franc worth more--despite the fact that both currencies are struggling against the Euro. When we arrived in June 2006, 1 USD was about 1.27 CHF. Today 1 USD is 1.18 CHF.

My Swiss friend Tom recently returned from a trip to the US where he practically bought out the US. (All this week he was dressed Ambercrombie and Fitch style--jeans, converse sneakers, button down and zipped sweatshirt). He didn't check the rates beforehand and was just assuming the amount from that last time he went, which was 1 USD to 1.5 CHF. Boy was he happy when he returned and saw he had spent much less than he thought!

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