Guess we can't pick on Canada's dollar value anymore

[Galaxy]

Saw on the news this morning (live in Buffalo, NY area) that the US Dollar is worth $1.12 to $1.00 (Canadian). Talk about the falling dollar.

[stevew]

You realize that still means a canadian dollar is worth 88 cents? Definately stronger than it used to be though.

[Galaxy]

You realize that still means a canadian dollar is worth 88 cents? Definately stronger than it used to be though.


Stronger than it used to be? It's been falling for years (the US dollar).

[ISiddiqui]

Uh.. he was talking about the looney there.

[stevew]

Average Rates
January
0.863694 USD (21 days average)
February
0.870547 USD (19 days average)
March
0.864158 USD (23 days average)
April
0.874159 USD (20 days average)
May
0.901043 USD (23 days average)
June
0.89887 USD (18 days average)


Original poster made it sound like(to me anyways) that the Canadian dollar was stronger than the US dollar. And actually the dollar has gained slight overall strength on the canadian dollar this month. Although 1 canadian dollar used to be worth about 75-80 US cents not that long ago.

[sovereignstar]

Original poster made it sound like(to me anyways) that the Canadian dollar was stronger than the US dollar.

Yeah, that's not worded right.

[Galaxy]

Sorry for the confusion.

[rkmsuf]

Sorry for the confusion.

*cue obvious joke*




It's ok. You are Canadian.





rim shot

[FrogMan]

Although 1 canadian dollar used to be worth about 75-80 US cents not that long ago.

and as low as 65 cents as of 2002, still not that long ago so yeah, the jokes in the line of "this thing is at $200 but it's canadian money so it's like $20 US, right?" don't work as well anymore... :)

FM

[Simms]

Although 1 canadian dollar used to be worth about 75-80 US cents not that long ago.

I still remember when US$1 = ~CDN$1.50.

Getting Christmas/birthday checks from American relatives was like winning the lottery.

[Pyser]

this is good for hockey.

[FrogMan]

I still remember when US$1 = ~CDN$1.50.

Getting Christmas/birthday checks from American relatives was like winning the lottery.

I was working in the States when it was 1.55 (1996-98). Paid in US dollars, coming back home for the Holidays was like being on a real sweet vacation :)

FM

[Wolfpack]

Yeah, I remember the .67 on the dollar thing. When we first moved here to Michigan, it was staggering what you could buy across the border for less. We actually had our honeymoon in Canada and it was so nice to pay only 2/3 of the asking price for everything (car rental, BnBs, food, etc). I shudder to think how much more it would cost if it were this year.

[FrogMan]

this is good for hockey.

but it's really not good for exporting businesses...

FM

[FrogMan]

Yeah, I remember the .67 on the dollar thing. When we first moved here to Michigan, it was staggering what you could buy across the border for less. We actually had our honeymoon in Canada and it was so nice to pay only 2/3 of the asking price for everything (car rental, BnBs, food, etc). I shudder to think how much more it would cost if it were this year.

and right now, it's the other way around, it's now much nice for Canadians to go vacation South of the border :)

FM

[AlexB]

Whereas the whole world is our playground :)

[Grammaticus]

but it's really not good for exporting businesses...

FM
It is actually good for US Exporters and bad for US importers of Canadian goods.

[rkmsuf]

It is actually good for US Exporters and bad for US importers of Canadian goods.

What do you import?

[FrogMan]

It is actually good for US Exporters and bad for US importers of Canadian goods.

It's bad for my company as we export to the US and sell in US dollars while still paying all the wages (for one thing) in Canadian money. Would need to get an explanation as to how it's bad for US importers. I mean, we are fighting against american companies, we cannot increase our price to compensate for the loss in exchange rate, thus we lose on our american sales...

FM

[sovereignstar]

What do you import?

chips

[rkmsuf]

chips

I tried that. Now I concentrate on exporting diapers.

[sovereignstar]

what about matches?

[moriarty]

It's bad for my company as we export to the US and sell in US dollars while still paying all the wages (for one thing) in Canadian money. Would need to get an explanation as to how it's bad for US importers. I mean, we are fighting against american companies, we cannot increase our price to compensate for the loss in exchange rate, thus we lose on our american sales...

FM

You should set up a hedge against the US dollar, so as the US dollar falls the hedge will increase in value and offset any loss in exchange rate.

Edit - of course if the dollar swings around the other way, you won't gain the benefit either.

[Chubby]

What do you import?

latex?

[Grammaticus]

What do you import?
Crude Oil
Computer Accessories
Pharmaceutical Preparations
TVs
Apparel / Household Goods
Telecom Equipment
Industrial Supplies

[rkmsuf]

Crude Oil
Computer Accessories
Pharmaceutical Preparations
TVs
Apparel / Household Goods
Telecom Equipment
Industrial Supplies

being an architect I wouldn't be familiar with that field

[Fidatelo]

The biggest rip off of the whole deal is that it seems most retail goods here in Canada are still priced as though our dollar was at 75-80 cents.

[MikeVic]

The biggest rip off of the whole deal is that it seems most retail goods here in Canada are still priced as though our dollar was at 75-80 cents.

Tell me about it.

The most recent items that I noticed were comic books... how they can almost cost twice as much doesn't make any sense to me.

[Bonegavel]

so as the difference fluctuates, goods that have been pre-labeled with the different USD and CAN dollar amounts don't change. Do they change the prices on those goods differently in accordance to the change?

[Chubby]

Tell me about it.

The most recent items that I noticed were comic books... how they can almost cost twice as much doesn't make any sense to me.

Go to a bank, convert to US $, pay US price. Problem solved.

[Galaxy]

One thing I never understood is the strength of the British pound.

[Rizon]

and as low as 65 cents as of 2002, still not that long ago so yeah, the jokes in the line of "this thing is at $200 but it's canadian money so it's like $20 US, right?" don't work as well anymore... :)

FM

Yup, I remember several years ago it was 1:1.65.

[ISiddiqui]

It's bad for my company as we export to the US and sell in US dollars while still paying all the wages (for one thing) in Canadian money. Would need to get an explanation as to how it's bad for US importers. I mean, we are fighting against american companies, we cannot increase our price to compensate for the loss in exchange rate, thus we lose on our american sales...

FM

It is only bad for US importers of Canadian goods if they don't have a price locked into a contract or are renewing their supplier contracts. Since the Canadian dollar is worth more relative to the US dollar they'll have to pay more for Canadian goods than they did a few years back.

[FrogMan]

It is only bad for US importers of Canadian goods if they don't have a price locked into a contract or are renewing their supplier contracts. Since the Canadian dollar is worth more relative to the US dollar they'll have to pay more for Canadian goods than they did a few years back.

yeah, I thought about it after going offline. It's also bad say for a customer buying online from a canadian shop with prices in canadian. But these shops are kinda rare as most canadian online shops show prices at least in both currency, if not right in US dollars.

FM

[Galaxy]

Does talk still exist over Quebec breaking away from Canada?

[Fidatelo]

Does talk still exist over Quebec breaking away from Canada?

Not as much, but its still there lurking in the shadows, waiting for a good time to jump out and annoy the rest of the country again.

[Galaxy]

Would Quebec be a social-like state like France if that did happen? Also, what about the Montral hockey team? Would be interesting to see how that is handle.

[Marc Vaughan]

Whereas the whole world is our playground :)
Which is very bad for competitiveness as far as our business's go ...

High exchange rates are only ever any good for people going on holiday or working abroad and being paid in their native currency.

[AlexB]

Which is very bad for competitiveness as far as our business's go ...

High exchange rates are only ever any good for people going on holiday or working abroad and being paid in their native currency.

Yep - I was talking from a self centered position there: I work for a small regional UK company, no foreign business whatsoever, and the £ enabled me to up sticks to the other side of the world for a year and a half for a break - happy days :)

Appreciate from SI's perspective things might be different

[Bek]

and right now, it's the other way around, it's now much nice for Canadians to go vacation South of the border :)

FM
and what canadian in their right mind would do that????

[FrogMan]

Not as much, but its still there lurking in the shadows, waiting for a good time to jump out and annoy the rest of the country again.

What he said. For the record, I'm not for the separation of Quebec, just as I'm not for all the Quebec government's tries of business deals with French parties instead of American ones. No offense to our French friends around these parts but I only think we got more in common, and are closer to the US than France and to me it makes more sense doing business only 400km away than 4000km away...

FM

[FrogMan]

and what canadian in their right mind would do that????

plenty of people, why not? Some who come to mind are people wanting to get some sun in the Winter...

FM

[FrogMan]

Would Quebec be a social-like state like France if that did happen? Also, what about the Montral hockey team? Would be interesting to see how that is handle.

who knows what would happen, tons of crazy ideas have been swung around. And what could happen to the Canadiens? Basically the same thing that could happen right now I'd think. It's all highly hypothetical talk at this moment...

FM

[Fidatelo]

The logistics of Quebec leaving Canada are... well, not very logical. I don't honestly think it would ever happen, and I get the impression that even the seperatists don't actually want to seperate. They use the threat as leverage for getting special treatment from the federal government, which I believe is basically the unspoken goal.