The US dollar is falling at an alarming rate!
Oct 22nd, 2004, 01:04 PM
#1
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The US dollar is falling at an alarming rate!
Good for Candians!However, will this hurt tourism? Canada is going to seem expensive, especially with those outrageous sales taxes.
On the other hand, I sold some property in Canada and will convert the money back to US dollars. It will work to my advantage. But I cant get over this drop in the past few weeks!
On the other hand, I sold some property in Canada and will convert the money back to US dollars. It will work to my advantage. But I cant get over this drop in the past few weeks!
Oct 22nd, 2004, 01:12 PM
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You know for years, we've had to deal with high prices when we travel - everything seemed pegged to the US dollar. If I went somewhere with $1000 CAD to spend and an American went to the same place with $1000 USD to spend, his dollar would obviously go a lot further than mine. But it probably took me the same amount of time to save that $1000, so I felt I was at a disadvantage. So I'm quite happy to see this happening. Obviously I'm not looking at it from a 'world economy' view, just from the perspective of someone who will be travelling outside of Canada in the next few months.
Oct 22nd, 2004, 05:49 PM
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I totally agree with Susan.. We've been really stung the last few years when travelling. Not just to the States, but to other tourist places that charge US dollars for additional tours, etc.
I don't think it hurt the US too much two years ago when the CND dollar was really bad. All the snowbirds sucked it up and went to Florida anyway. I know I did.
So hopefully the Americans will feel the same. If there is somewhere you want to go, just convert your money and go!
But oh, it will be so nice to shop in the States this year.
I don't think it hurt the US too much two years ago when the CND dollar was really bad. All the snowbirds sucked it up and went to Florida anyway. I know I did.
So hopefully the Americans will feel the same. If there is somewhere you want to go, just convert your money and go!
But oh, it will be so nice to shop in the States this year.
Oct 23rd, 2004, 02:59 AM
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Canada is still a decent travel value in comparison to many alternatives and exchange rates don't change the quality of the destinations. It certainly won't stop me from continuing to enjoy my visits the true North, strong and free!
Oct 23rd, 2004, 05:13 AM
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Come to Canada and enjoy the relatively strong U.S. dollar (1$US=$1.23CAN) while it lasts.
In this morning's Financial Post, one Wall Street guru predicts that the Canadian dollar will go to $1.06US, i.e $1US=$0.94CAN.
In this morning's Financial Post, one Wall Street guru predicts that the Canadian dollar will go to $1.06US, i.e $1US=$0.94CAN.
Oct 23rd, 2004, 09:09 AM
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If $1.00 US = $1.06 Canadian, all I can say is OUCH.
As long as the US balance of payments in foreign trade stays highly in the red, the dollar will continue to drop.
Most Americans don't like to face the fact that the US $$ is no longer the world's dominant currency. The euro is, and the euro zone may well enlarge.
I think US types had better get used to toting a weak currency because I don't see a change coming anytine soon.
Dollars flood the market, and eastern European countries, like Russia, where the dollar was once a surrogate currency, are switching allegiance. They want those multi colored pieces of paper with € written on them.
There is an old ecomomic adage that good money drives out the bad. If you think of currency as a tradable commodity, dollars are not in demand because there are plenty of them easily available.
We can all learn how to make the € sign.
Hold down the alt key and type 0128 on the numerical keypad!!
As long as the US balance of payments in foreign trade stays highly in the red, the dollar will continue to drop.
Most Americans don't like to face the fact that the US $$ is no longer the world's dominant currency. The euro is, and the euro zone may well enlarge.
I think US types had better get used to toting a weak currency because I don't see a change coming anytine soon.
Dollars flood the market, and eastern European countries, like Russia, where the dollar was once a surrogate currency, are switching allegiance. They want those multi colored pieces of paper with € written on them.
There is an old ecomomic adage that good money drives out the bad. If you think of currency as a tradable commodity, dollars are not in demand because there are plenty of them easily available.
We can all learn how to make the € sign.
Hold down the alt key and type 0128 on the numerical keypad!!
Oct 23rd, 2004, 12:34 PM
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From an Australian point of view, we think its nice when our little Aussie dollar can be of similar value or close to to other countries, eg. $1 AUD = $0.91 CAD. As for other countries eg. our dollar equals around 73 cents US, but to the British pound, oooch, only 40 pence will our dollar buy.
Oct 23rd, 2004, 11:00 PM
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According to CTV news tonight, Americans are "flocking" to Canada to receive flu vaccinations and are spending their dollars while here.
Washington State has even set up a "flu cruise" from Seattle to Victoria.
It is still a bargain for Americans to come to Canada.
Washington State has even set up a "flu cruise" from Seattle to Victoria.
It is still a bargain for Americans to come to Canada.
Oct 24th, 2004, 08:08 AM
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Tropo, we've been to Australia twice (8 years ago and 4 months ago - my mother-in-law is in Sydney). Both times our CAD dollar was almost the same as your AUS dollar. Friends who were there in between our visits benefited when your dollar was less than ours, but for us, it was almost the same. It sure made it easy to figure out what we were spending!
Oct 24th, 2004, 09:05 AM
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Susantoronto. Did you find Australia to be more expensive than Canada? I heard that tipping is not practiced there so that is a savings.
Its those taxes in Canada that get you!
When you go to a restaurant in Canada, you have to add about 15-17% for tax and then another 15% for a tip. It adds up. Then, other items are taxed too.
The depreciation of the US will effect some parts of Canada that rely on US tourism. The same thing happened in Maine for a while. Business owners in coastal Maine lost a lot of business when the US dollar was really high. Im sure it was the same for parts of
Florida.
As a person who does travel to Canada quite a bit, I hate seeing our US dollar go down the toilet every other day! Having said that, Im glad that Candians can come here too. I just dont want the dollar to drop anymore! URRRGGGGG!!!!
Its those taxes in Canada that get you!
When you go to a restaurant in Canada, you have to add about 15-17% for tax and then another 15% for a tip. It adds up. Then, other items are taxed too.
The depreciation of the US will effect some parts of Canada that rely on US tourism. The same thing happened in Maine for a while. Business owners in coastal Maine lost a lot of business when the US dollar was really high. Im sure it was the same for parts of
Florida.
As a person who does travel to Canada quite a bit, I hate seeing our US dollar go down the toilet every other day! Having said that, Im glad that Candians can come here too. I just dont want the dollar to drop anymore! URRRGGGGG!!!!
Oct 24th, 2004, 12:45 PM
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We leave next week for 5 weeks on Maui and Kauai, so I am happy to see the rate change, especially when I have to add 14.5% tax to my condo rate. Bookings so far in Whistler are up over last year, so it doesn't look like the rate change is going to hurt our tourism numbers that much. And thank you to all for the advice for our first trip to Hawaii. I will post a report when we return. Mahalo and Aloha...Al
Oct 24th, 2004, 01:46 PM
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Maletas, in general, I did find Australia to be a bit more expensive than Toronto. A dish that might be $10-$12 in Toronto would more likely be $15-$18 in Australia. Coffee was quite expensive - it's all espresso-based (no brewed coffee), so it seemed to be $3 / cup whatever size you got. So a couple of coffees and a bagel would be quite pricey. That seemed to be the situation in Sydney, Byron Bay, Noosa, Darwin, Melbourne, wherever we went. (Mind you, it was very good coffee.) So the fact that there were no taxes applied and people don't tip all that much didn't make much of a difference - it ended up being slightly more than I pay here (most of the time).
But you know, prices probably vary all over, the way they do here in Canada. Toronto is probably more expensive than Winnipeg, that kind of thing.
But you know, prices probably vary all over, the way they do here in Canada. Toronto is probably more expensive than Winnipeg, that kind of thing.
Oct 25th, 2004, 06:43 AM
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Maletas,
I assume you meant 1.218CAD = 1.000USD; by the end of this week, who knows maybe 1.128?! (That would be a gain of roughly $.12CAD in seven days time!)
This drop in the value of the (US) dollar shows how horribly anemic the economy is in the States, which can't be good for the global economy over the long term-no matter how much of a positive spin is put on the matter.
Still, though I find it hard to swallow the reversal in currency values, it's good to see the Canadian economy on a roll.
I assume you meant 1.218CAD = 1.000USD; by the end of this week, who knows maybe 1.128?! (That would be a gain of roughly $.12CAD in seven days time!)
This drop in the value of the (US) dollar shows how horribly anemic the economy is in the States, which can't be good for the global economy over the long term-no matter how much of a positive spin is put on the matter.
Still, though I find it hard to swallow the reversal in currency values, it's good to see the Canadian economy on a roll.
Oct 25th, 2004, 04:19 PM
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I don't know if voting "appropriately" in the election will make a difference with the value of the US dollar.
However, everyone in the States SHOULD VOTE.
This is an important election and although I don't agree with the Bush administrations' policies of invade and attack preemptively, I am not sure that scary Kerry is a whole lot better.
What a abysmal pair you have to vote for, I am sorry for that.
But,you as US voters do need to think about your trading partners and how you are viewed by those trading partners in light of your growing deficit.
Canada is one of those trading partners and while Bush hasn't been all that kind to us, Kerry is in league with the protectionism factor, the protectionism group of 7 that includes Ms. Clinton.
Examine the issues, but also, really examine your trading partners and how their electorate will view you after the election.
Remember for example, that the city of chicago enjoys natural gas at a rate that is probably 1/2 of what is paid by the citizens of alberta due to free trade, that may not remain the same.
However, everyone in the States SHOULD VOTE.
This is an important election and although I don't agree with the Bush administrations' policies of invade and attack preemptively, I am not sure that scary Kerry is a whole lot better.
What a abysmal pair you have to vote for, I am sorry for that.
But,you as US voters do need to think about your trading partners and how you are viewed by those trading partners in light of your growing deficit.
Canada is one of those trading partners and while Bush hasn't been all that kind to us, Kerry is in league with the protectionism factor, the protectionism group of 7 that includes Ms. Clinton.
Examine the issues, but also, really examine your trading partners and how their electorate will view you after the election.
Remember for example, that the city of chicago enjoys natural gas at a rate that is probably 1/2 of what is paid by the citizens of alberta due to free trade, that may not remain the same.
