Travelers should act now to take advantage of a strong dollar for international trips, but 'Don't be too greedy.'

The value of the US dollar has recently reached its highest level in years in comparison to many major global currencies.

As a result, travellers can buy more overseas than in the past. It's an exciting time to be an American travelling overseas.

However, it is unclear how long the good times will last. Some may wonder if they should act now to secure a favourable exchange rate?

"I'd pull the trigger right now," said Aiden Freeborn, senior editor at The Broke Backpacker.

The euro, the official currency of 19 of the 27 European Union members, has lost value in the last year.

On July 13, it reached parity with the US dollar for the first time since 2002. Parity denotes a 1:1 exchange rate between the two currencies.

Americans were still getting a roughly 13% discount from a year ago as of market close on Tuesday.