WILLEMSTAD - Today the euro was worth as much as the dollar for the first time in twenty years. At money exchange offices you now get 1.82 guilders for 1 euro. That is a big difference from a year ago. At that time the euro was worth 2.19. For Curaçaoans, the weak euro is good news. It makes a holiday in the Netherlands a lot cheaper. The low euro also favors importers doing business with Europe. But coming this way from Europe costs a lot more.
The depreciation of the euro is due to the stronger dollar, which is seen as a safe haven in uncertain times. In the current time of unrest, partly due to the war in Ukraine, investors are more likely to opt for certainty. The dollar is also gaining strength because interest rates in the US have already been raised several times this year to tackle high inflation. The US central bank is expected to raise interest rates again this month.