For Americans visiting Europe this summer, the steep decline of the dollar against the euro and the British pound has made eye-popping prices a lamentable part of the traveler’s tale. (The Kingsley family’s hotel room in London was $500 a night; five bite-sized chocolates at Harrods cost $10.)

“It’s O.K.,” said Mr. Kingsley, 59, with a resigned laugh. “I’ll just have to work a few extra years to pay off this vacation.” His wife, Laura, did her best to soothe him. “It’s just play money,” she said.

By now, five summers after the dollar began its long swoon against the euro and the pound, American travelers are used to $5 cups of coffee and triple-digit dinner checks in Europe’s great capitals. But the dollar’s latest plunge — to record lows of 72 cents to the euro and 49 pence to the pound — has turned mere sticker shock into a form of disbelief for many tourists.

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