Dollar and Euro Parity

On the last weeks, Europeans are surprises with something unthinkable just a few months ago: the euro has reached parity against the US dollar. In practice, it means that 1 euro is equal to 1 dollar.

The last time the euro fell below the dollar was in November 2002, when the single currency was very new on the market. The euro become stronger year by year and has since remained above the dollar for a long time.

Even in the worst moments of the European debt crisis euro remains above the dollar. Consumers, businesses and governments have become accustomed to this financial status quo.

However, when Russia began its invasion of Ukraine, a sudden economic shock turned everything upside down.

The euro began to lose value on February 24, a trend that accelerated in June as fears grew facing of the fear in cut off gas supplies to the European Union in retaliation for Western sanctions.

And why this is good for expacts?

In a simple comparison, considering an exchange rate of today, we have 1,01 USD for 1 EUR. Considering the very very small difference and the known low prices of Portugal, the Americans living in Portugal, for example don't lose purchasing power. What our relocation experts are seeing is a huge increase in demand by US citizens for properties, due to the fall of the euro, for Golden Visa purposes.

So, if you want to enjoy the low prices and the parity of the euro and dollar, our team is ready to help on your relocation process.

To learn more about the Portuguese Golden Visa by purchasing a house, which investment is most suitable for your investor profile and to make your visa process smoothly, Change Consulting's experts can help you and your family in this journey. You can contact us here.