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The Dollar is over 80 cents US!
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| Jayx1 |
It's now at 80.30 cents.
While this is great for travelling and importing, this could cost a lot of Canadian jobs including manufacturing and movie production.
Either way I'm checking out cheap flights from Buffalo as we speak! :) :crazy: |
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| dEsidEL |
it's just a number! kinda like when the dow hit 10,000 .. anyhow there's always a benefactor and a loser in times like this .. but hey it's been higher before so ..
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| Jayx1 |
Yeah but this number affects all of us right down to how much Djs cost to bring in from overseas.
It's definately a mixed blessing. |
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| j_spot |
Im buying american money right now. spending money for my trip to hawaii @ xmas is getting cheaper!!
but dont forget that the Canadian dollar used to be higher than the US!(Ok that was 35 years ago) |
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| Jayx1 |
| yeah and back then i believe it was a fixed rather than a floating currency so that doesn't count :) |
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| rabbitjoker |
This is bad. Remember - the reason our dollar is stronger is because the US dollar is weaker - not because of some significant increase in our buying power (CAD$ buying power has not increased even close to the % the dollar has).
This has been happening for a while - bye-bye manufacturing jobs and export related jobs. Conference Board of Canada says for optimal competativeness in our economy the CAD$ should be near $0.70 (over = bad, under = bad).
Plus ~40% of my annual compensation is based off of US$ - the last few years have been less than desireable in that respect. |
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| Jayx1 |
Actually our recent dollar gains have been almost exclusively Canadian. The dollar has actually risen over the Pound and the Euro in the last 2 months. Previous gains were from the weakening of the US dollar but not anymore. You can thank increased interest rates and higher oil prices for the recent Canadian dollar rise.
But yes, as far as jobs go it is bad. But Canada needs to improve is productivity rate. In other words QUIT GOOFING OFF AT WORK BY READING THIS AND GO HELP THE ECONOMY!!!
LOL |
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| rabbitjoker |
| quote: | Originally posted by Jayx1
Actually our recent dollar gains have been almost exclusively Canadian. The dollar has actually risen over the Pound and the Euro in the last 2 months. Previous gains were from the weakening of the US dollar but not anymore. You can thank increased interest rates and higher oil prices for the recent Canadian dollar rise. |
CAD$ has risen ~30% in the last 2 years - MOST (2/3'd at least) of which has been due to a weakening US$.
I wish the 30% increase would have been exclusively due to our buying power actually increasing - but unfortunately it has not.
Does anybody here honestly feel that they can buy "more" today than 2 years ago? |
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| Jayx1 |
In regards to electronics and other imported items. Absolutely.
You are right. 2/3 of the rise is thanks to the US dollar decline but the positive thing about it now is that its almost exclusively canadian. |
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| amb_ |
Less, actually.
| quote: | Originally posted by rabbitjoker
Does anybody here honestly feel that they can buy "more" today than 2 years ago? |
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| Jayx1 |
| quote: | Originally posted by amb_
Less, actually. |
Depends on what you are buying. |
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| amb_ |
Needs of life.
| quote: | Originally posted by Jayx1
Depends on what you are buying. |
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