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.

[moofedct.livejournal.com]

I found the article "What's behind the rise of the Canadian dollar?" an interesting read.

As for your trip, yeah it'll be more expensive and it'll be worth it. :)

[madknits.livejournal.com]

Any trip to visit our neighbours in the Great White North is worth it, no matter how expensive.

Besides, if the Canadian dollar goes up, the CanCub may come for another visit!

[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.

[beartalon.livejournal.com]

It's personally killing me in interest rates on variable rate debts.