Wednesday, March 5, 2008

Euro Reaches New High

Today I read where the Euro has reached a new high against the US dollar--one Euro costs $1.53, meaning we lose a significant amount of money every time we change our dollars into Euros. For example, $1000 US shrinks to 655 Euros at the current rate. Considering that the cost of living is already quite high in most European countries, this can really put a pinch on Americans traveling or living abroad.
Here in the Canary Islands for example, the cost of a 2-3 bedroom apartment (anywhere from 800 sq. feet to 1200 sq. ft which which would be considered large) costs anywhere from $900--$1500, for a good neighborhood. The cost of food is double than in the states. A gallon of milk is more than $6.00, a pound of hamburger is approximately $5.00. Nothing is cheap--even bananas, which are grown on the island, cost more than in the US--I can't figure that out!
We take so much for granted, and we need to be thankful for the Lord's daily provision. Economies are so fragile--but the Lord promises to provide for those who trust in Him. The Bible tells us that money has wings--it flies away. As Christians, we have eternal riches, that will never lose its value.

1 comment:

Anonymous said...

Wow - that is quite a difference! With how our economy is moving - praise the Lord that we can trust in Him for our "daily bread".