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

[pectopah.livejournal.com]

Then of course, there are Americans like me who have very bad timing. Most of our income comes from US sources still (we are working on getting Canadian sources), so our budget is a little kablooey at the moment.

The news is full of analysis the upshot of which is: Alberta will continue to suck in money and labour from the rest of Canada. Ontario and Quebec, which produce most of Canada's manufactured exports, may get hit hard.

[bjarvis.livejournal.com]

Sounds familiar... in preparation for our upcoming Vancouver trip, I had been sending US funds earlier this year into my TD Canada Trust account. I noticed the last round in February distinctly didn't convert into anywhere near as many loonies as prior transfers. At least most of the upcoming trip is now either prepaid or will be financed out of existing Canadian dollars.

In prior years, when I was helping out my family, the difference in the exchange rate helped cushion the pain on my end; now that the dollars are approaching par, future assistance will definitely pinch.

Good luck in getting Canadian sources of revenue in place asap!