October 21, 2024, 6:56 am | Read time: 2 minutes
Anyone who has to watch their budget when traveling will be pleased if their money is worth a lot at their vacation destination. A global ranking shows in which countries the euro is currently strongest and weakest.
Whether food or restaurant prices, hotel or transport costs – money is an important criterion for many travelers when choosing their vacation destination. However, you should not only take a look at the prices at your vacation destination, the exchange rate also plays a not-insignificant role. The global technology company Wise, based in London, recently took a close look at the exchange rates of 73 selected countries worldwide and analyzed where the euro is currently worth the most and the least. The company also determined in which countries the euro has gained and lost the most value since last year. To determine this, the exchange rate on September 23, 2024, was compared with that of the same period last year (September 23, 2023).
Countries where the euro has gained the most purchasing power
According to the Wise ranking, the euro has gained the most purchasing power since last year in Argentina. In September 2023, one euro was worth around 372 Argentine pesos, whereas it is now worth around 1,073 pesos per euro. This is an increase in value of 65 percent.
Egypt is the second country in which the euro has gained in value since September 2023. There was an increase in value of around 39 percent. A year ago, one euro only bought around 33 Egyptian pounds, but this has now risen to around 54.
In Turkey, the euro has now gained a good 23 percent in value compared to the previous year, putting it in third place.
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Countries where the euro has lost the most purchasing power
Although still particularly strong compared to other countries, the euro has lost the most purchasing power in Poland over the past year. Its value has fallen by around eight percent in the last year. The Kenyan shilling has also gained eight percent in value against the euro since September 2023. In the African country, one euro currently buys around 134 shillings, compared to around 155 a year ago. The Albanian lek has gained around seven percent in value against the euro since September 2023, putting it in third place among the countries where the euro has lost the most purchasing power.