Where the Dollar Rules: WSJ

U.S. Currency Can Still Buy
A Great Vacation -- In South Africa

By STAN SESSER
May 3, 2008; Page W1

"In the center of South Africa's wine country, about an hour's drive from Cape Town, travelers can stop at the elegant Wijnhuis restaurant in Stellenbosch and order a flight of six local wines. The cost: about $4.

Americans venturing through this area could be excused for thinking that they've gone back in time, when U.S. currency was king. In recent months, the dollar has plunged around the world. In late April, the euro reached a record high against the dollar, with one euro briefly costing more than $1.60. It now costs about $1.54.

But things are different in South Africa. In the past year, while the dollar has plummeted in Europe, Japan and almost everywhere else, it has risen in value in South Africa -- and in at least six other places. Some of them, including Iceland and South Korea, have such a high cost of living that a tourist won't notice any bargains. But three countries -- South Africa, Argentina and Indonesia -- allow Americans to revisit the days of the dollar's glory...

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