Exchange rates

One of the things that makes it difficult for American missionaries and volunteer missionaries who work in Europe is the changing value of the dollar. Namely, its decline.

When we first arrived in Europe in January 2010, the value of the euro was falling against the dollar. For us, that was a good thing. It meant that after four or five months, we had gained euro 10 to 15 cents for every dollar we spent. Our money was going farther than it did at the beginning.

That didn't last long. By the beginning of this year the dollar had fallen painfully, not only against the euro but against the Swiss franc. Because we live on the border of Germany and Switzerland, we operate in both currencies.

A year ago, $1 gave you 0.79 euros, while the dollar and Swiss franc were close to one for one.

Today, the exchange rate is like this:

$1 will give you just 0.69 euros.
$1 will give you just 0.83 Swiss franc.

Think of it in terms of purchasing power:

A plate of food at a restaurant in Switzerland is already 22 Swiss francs to begin with. So that meal would cost you $26 in dollars. As you can guess, we rarely eat out in Switzerland, except for the odd sandwich or McDonald's value menu junior burger.

Germany is a little better because their prices are much lower to begin with. Let's say an average plate of food at a restaurant in our part of Germany is 7.20 euros. That costs $10.30. For us, eating out, then, is a special treat, but it's possible.

The exchange rate is more painful the higher your purchase.

For instance, a trip to the nearest discount grocery store (it's called Aldi, which has some stores in the United States, as well) runs the two of us a minimum of about 50 euros for a week's worth of food. But in U.S. dollars (which is what our funding originates in) that jumps up to $71.

The exchange rate is hurting a lot of churches and missionaries in Europe. Some raised a certain amount of support based on an older exchange rate and have found their funds dwindle with the value of the dollar. The choices are to raise more, cut living expenses even further or go home early. We are grateful that we have been able to adjust.

Pray for the many religious workers and denominations in Europe whose support may come, at least in part, from generous people in the United States. Ask God to provide for all the needs in His way and perfect timing.