Devaluation in Greece Aids U.S. Travelers

NEW YORK -- The recent devaluation in the Greek drachma, which increased the purchasing power of the U.S. dollar by 15% compared with last year, could make Greece one of Europe's best travel bargains this year.

Although the drachma will fluctuate, as of mid-April, one U.S. dollar converted to 371.7 drachmas, compared with an average of 280 drachmas in 1997. "The increased value of the dollar amounts to a bonanza for Americans visiting Greece," according to Nikos Skoulas, secretary general of the Hellenic Tourism Organization.

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