85 cent canadian dollar?
 

guy on rob tv just said the dollar could hit 84-85 cents because the bank of canada may not move interest rates because growth is going too strong which is horrible for canadian webmasters. margins have been kicked in the nuts way too much from this strength in the dollar.

good to see our economy doing well, but that comes at the price of any company bringing in money from the states losing money. i hope the bank of canada knows what they're doing because a strong dollar could kill our economy over the next couple years. imo 80 cents is way too high, but 85 would just be devastating.

Ugh! My income is already down 20% from last year just because of the damn dollar. I hope the economy starts picking up in the US.

pray, we need to pray

You could try keeping your savings in US$ until the value picks up. Trading currency is cheap and easy too, if you're really getting fucked investing in forex might be profitable.

fucking bush

ya keep thinking you can keep it in a savings account. there's a chance that the US economy doesn't pick up like they're hoping. US dollar could get slammed even more. i've seen so many people on here saying keep it in US$ until it picks up. well if you know anything about economics then you know this isn't just some whim by those wacko fx traders. the US$ was overvalued and the drop was expected to happen, but just not this big of a drop. its expected to get even worse and it will over the next two months for sure. how much is the question and would the bank of canada jump in before december if it got too bad?

I can see the loonie hitting 80 cents US, but I seriously doubt it has enough steam to get to 85 cents. If it does get to 85 cents I don't think it will stop until it gets to 90 cents. But I don't think it will get to 85 cents for that to happen.

Thats going to hurt alot of buiz if it hits 85c. We depend so much on export for revenu that a high dollar will diminish exports. Oh well, im praying for a recession

well thats going too far, i would rather it hit 85 than have a recession. right now we can't have our economy heating up too much because that puts the bank of canada in an extremely tough situation. do you raise rates to keep inflation at bay? do you stand still only to see the dollar go nuts?

what we really need is the US economy to pick up and start to create jobs. there's still a ton of slack in their economy so that doesn't really look likely at this point. could be mid 2004 before there's significant job growth down there. but by then who knows how high our dollar can go.

Yeah, I keep most of it in US, but I still need to pay the bills.

The annoying part is buying anything online. Like content...buy it with my Canadian credit card & get fucked on the exchange. Then transfer the money out of my US account to pay the bill in Canadian funds. :(

get a US$ credit card. i think every bank has one.

We keep as much of our cash in US funds as possible (bank accounts, credit cards, investment accounts). But, when we have to pay ourselves (in Canadian dollars), it hurts.

I exchanged a few thousand dollars yesterday at $1.29! Eighteen months ago the rate was over $1.60. That's a 20% hit to our bottom line.

That's actually a 30% hit to the bottom line all within the last year. And it does suck ass bad. :ak47:

It hurts Canada in every way as trade with the US is down and tourism was WAY down over the summer.

Solution :

Bush for prime minister in Canada.

Our dollar would go down...:Graucho

It's not just a problem for webmasters either.. It fucks up the entire export market.. And US companies have been and will continue to pull out of Canada because it's not as cheap here anymore.. 3/4 of our town is unemployed because of it. They shut down a huge plant, THE biggest employer around here, because of that, and now most of the town is on welfare.. It's shitty watching the economy around here strangle.

where do you live?

The last couple of years the Canadian dollar was actually undervalued. It is now catching up, combined with a lower U.S. dollar. It was not long ago that the Canadian dollar was 85-90 (early 90's) cents U.S. and in the 70's the Canadian dollar was worth more then the U.S. It;s not all bad, Canadian's having to purchase from U.S. companies are going to benefit, and were all going to have to adjust. Good businesses will adjust and survive. No biz should do business thats dependant on a low Canadian dollar. It was only a matter of time before it went back up.
Weve noticed a drop in our revenues as a result, but our costs have also gone down. Hosting, domain names, advertising, etc...

fucking bush!..... blat

how about everyone just gets paid twice as much!! Yeah!! Problem solved. Who do I need to talk to?

:1orglaugh

Life sucks move on and adapt. :thumbsup

adapt to what? it means lower profits no matter what you do. even companies who need to make large capital purchases will see a lower roi on that investment. if the canadian dollar drops in the future then it would be very profitable but there's really no way to predict where the dollar will be in 5-10 years.

we're an export based country and depends far too much on natural resources. the dollar rising is hurting our economy and will hurt it even more as it rises.