The country was granted permission by the European Union to make the switch during the summer of 2008, when the exchange rate was pinned at 30.126 koruny to the euro. The currency, however, didn’t switch until January 1, 2009.

In the months leading up to its circulation, Slovakia hosted Euro-themed events to raise awareness and entertain, and also pay tribute to the exiting currency. (Among these, chocolate euro coins were thrown to children, and a theater troupe staged a play about the demise of the koruna.  Sad clowns.)

What it means

The introduction of the euro in Slovakia could mean that Cheapos heading to Bratislava or other Slovak cities will notice restaurant prices and hotel rates listed in both currencies (euros and Slovak koruny), a trend that will last until January of 2010.

Others may notice that prices have jumped a bit. According to a piece in Slovak Today, consumer prices increased 0.5% in the 10 days following the changeover.

In case you’ve got a koruna or two hanging around the house, banks in Slovakia will still exchange banknotes through the end of 2009 and coins through June 2009 (although they may charge you for it!).

Need help with your own euro conversion? Check out xe.com to see today’s euro exchange rate.

The post Goodbye Koruna: Slovakia joins the euro club appeared first on EuroCheapo's Budget Travel Blog.

Just this summer the euro hit an all-time high of $1.60, while the overwhelming strength of the pound introduced the budget traveler’s nightmare of $6 Cokes in London.

My, how times have changed.

As of this morning (October 22, 2008), the euro is worth $1.28 and the British pound is down to $1.62. Say what?

To put this sudden drop in exchange rates in context, the euro has not been this low since November 2006, and many economists expect it to decrease further in coming months.

While today’s euro exchange rate isn’t as low as the currency’s record low against the dollar, the stronger dollar does offer immediate relief to American tourists abroad, as well as a bit of happy economic news in an otherwise chaotic economic climate.

Tell us: How strong will it get?

How much stronger do you think the dollar will become during the next year?  Will a stronger dollar influence your decision to take a trip to Europe? We’d love to hear from our fellow Cheapos. Please add your comments below!

Photo from davidrcichon.com.

The post Want Some Good News? Here comes the dollar! appeared first on EuroCheapo's Budget Travel Blog.