Canadian Dollar Continues to Rise

[bjarvis]

At the moment, I see the Canadian dollar hitting $0.9024. I believe that's the highest its been since 1977. It's making our May trip to Vancouver a little more expensive but I'm more worried about what the valuation will do to Canadian exports and thus to the rest of the economy.

Only a couple of years ago, many were jokingly calling it the Canadian peso...

Comments

[dr-scott.livejournal.com]

When the world values Canadian resources in the ground highly, as now, the currency rises. This tends to crush non-extractive export industries. In many ways, being resource-rish is a curse, unless of course you happen to be an owner of those resources, or work in the that industry.

[bjarvis.livejournal.com]

It doesn't help that the Congress doesn't seem to have the will to fix the US' ugly deficits, both trade & budget. With the finances so out of kilter, the US dollar has rightfully slid, exaggerating the rise of the $ CDN.

I hereby volunteer to be W's budget director. They could do worse.