The impact of exchange rates on missionaries If there's one thing that is important in the evaluation of how much a church ought to support a misisonary, it would be the exchange rate and inflation rate of the country where the missionary is serving.
With an average inlation rate of 1.88% in the last 5 years, an income tax of 16%, and sales tax of 19.6%, France is among the most expensive countries to live in.
When the Euro was first introduced in 2002, the Dollar was still stronger. It only took 6 years for the european currency to crush down the Dollar. The chart below sumurizes the fluctuation of the Dollar vs the Euro for the year 2007. In 2007 the average exchange rate was $1 for €0.73! How does this impact us? in 2003 our monthly budgeted support of $4,583 would have given us €3,987.21. In 2007 it gave us €3,337.95!
Moreover, missionaries already on the field have to come back to the US and raise more support. Churches that already support them are going to help them first before supporting any new missionaries. I totally agree with that. This is going to make our deputation trail longer if the Euro and Dollar do not come back to an equal level.
Pray fervently for that to happen!
If there's one thing that is important in the evaluation of how much a church ought to support a misisonary, it would be the exchange rate and inflation rate of the country where the missionary is serving.
