The Euro - US dollar exchange rate changes nearly everyday, and you can track it by entering "currency conversion"
into Google and picking any one of the hundred sites that report it. The current rate is $1 US = 0.68 E.
Hotels and meals in Europe are typically VERY expensive, but like all places there are cities that are more expensive
than others, as well as some bargain cities. You did not say where you were thinking of going, so I cannot tell you
more than that. The same is true of hotels -- VERY expensive in US terms, and the rooms are not nearly as large or
well equipped as we are accustomed to.
Thank you for the info. Don't know "where" we would go yet -- I had just been wondering if everywhere is expensive as I've heard. Makes sense, though. Is there any country that is particularly "inexpensive" in Europe?