Dollar: the not-so-universal travel currency

If the dollar continues its downward spiral this year, it may be necessary for people to switch from dollars to euros for their travel cash.

According to this NY Times article yesterday, many countries are no longer willing to take dollars instead of their currency as a way to get into museums, and pay for hotels and restaurants. While many countries in Latin America still happily accept the dollar because they currencies are either pegged to the dollar or it is the dollar, an increasing number of countries in Asia and Africa, for example, prefer the euro over the dollar.

The Taj Mahal, for example, no longer accepts dollars for the entrance fee. Tourists used to be able to pay $15 to get in. Now, they are required to only pay in rupees (750), which is actually $19. You would think they would just increase the entrance fee in dollars, but maybe they actually really don’t want dollars.