US/Canada exchange rate is awful.
 

Damn! The US/Canadian exchange rate is pitiful. $1.30 CDN for each usd. I have never seen it so bad.

The Canadian government also claims that it is doing everything in its power to ensure we NEVER see $1.60 exchange again.

I thought it was fantastic for the economy. It allows more US business through the border when they can get product cheaper. I mean seriously - I thought it was a good thing all around.

I wonder why it slipped so badly and if it will go back up again.

You wonder why it slipped? Here's a two word answer for ya - BUSH - WAR!

There is very little Canada can do to make any major adjustments in the C$. The US Dollar has been taking an asskicking on world money markets and other currencies have gained in value over the past few months.

Keep your cash in the US and draw out the bare minimum.

The euro has gained a LOT. I bet they are liking that.

The thing is, it suits the US economy right now. With a currency that weak, exports are rocking

Brad, you think thats bad ??? It was 1.28 just on Monday !!
Grrrr :(

what goes up must come down

what she said.

as long as the Mid-East crisis is left unresolved, it will again slip.:(

It's only going to get worse and if they dont take this shit and get it under control it'll fuck up our entire export business.

The Gov't needs to drop the rates to bring the dollar back down to something useful. It fucking sucks to lose 20%+ of your networth (assuming you keep it in USD)

It's not just the rate, but the fact that it's changing so fast.

Business decisions I made a year ago are barely profitable now;
The Wife (earns US$) has had a >20% pay cut in the past 4 months.

On the other hand, rooms in Vegas are starting to look affordable again.


Either way, it's not the rate that kills you, it's the rate of change that will truly fuck you up. It creates an unstable business environment.

Damn - I didn't see that. That's awful.
The good news is though that they will never be level again like the 1980s was.

ya sux...
i remember a while ago depositing $2000 checks and getting $3000+ for it, now it's like $2580, $500 loss.. :(

Yeah dont we all miss the days..

Yep, I've lost more money this way lately.. arg.

An expert on the radio the other day said that the Canadian dollar is reactionary to the US dollar, BUT it's on a year or so lag. So the dollar now is in reaction to last year's US dollar. We've yet to see what the newest round of devaluation will do.

They're also saying Bush is doing it to cut his debts. If he owes less in US dollars, then it appears that he's reduced the country's deficit. Something like that, anyway.

:1orglaugh Sherie u always know how to make me laugh!!!

No radio or mainstream financial media flopdick can account for this year's drop in exchange rates.

This year was the biggest drop ever. Going back over the entire history of the exchange rate, this type of change, upwards or downwards has never happened, it takes at least 7-10 years to acheive.

This kind of drop was considered implausible up until now. So now that all traditional forcasting is useless, what do you think will happen over the next 6 months?

Yeah, I just love making more USD than ever yet making less euro's than before :thumbsup

:(

I do what I can sugar!:winkwink:

Unfortunately (if your perspective is anti-Bush), this is VERY good for the US exports. Our trade deficits have gotten MUCH better in the last quarter. I'm just hoping that the dollar STAYS weak for a while so that exports will stay strong. That will contribute nicely to a better job market in the US by the second quarter of '04

It's going to go on and on. It's an economic fundamentals thing, not something that will balance out and reach "equilibrium" just because it's moved "enough".

The C$ was sliding for what, 30 years or something? The whole time the pundits were telling us that it would stop/turn around by the "end of next year"

:2 cents:

No, the C$ was not "sliding" for 30 years or "something". Thanks for your brilliant insights. I feel a lot better about the situation now that you have so intelligently stated its an "economic fundamentals thing".

We are looking at historical exchange rates, and how long it took for the rate to change over time.

The only other quick, massive drop over more or less the history of exchange beetween the currency was 86-91 and guess who was the US president at the time?

1986-03-01 1.4009
1991-10-01 1.1279

total change = 0.273


This year;

18 Nov 2002 1.5902
12 Nov 2003 1.2981


total change = 0.2921



It was inconceivable this change would happen so fast, but I can sure as hell tell you the rate won't climb back up this fast. It has a lot more falling to do.

This 30% pay cut sucks big time :ak47:

i'm loosing money :waaaaahh :waaaaahh

The dollar is PURPOSELY being devalued by the US. It has nothing to do with war....

The Gov't is doing it to make US exports cheaper, hence more people buying our stuff to help our economy. That is why they keep printing more and more money.

It is one thing I do not agree with, markets should determine the value of the dollar.

Thanks for the insults, maybe you should try a midol.
I'd also thank you for your "brilliant" insights but I didn't see any.

I'm not disagreeing with you in any way, I was just trying to say that I think the C$ will continue to rise for quite some time. Just like it fell for something like 30 years straight.

In 1972 I was buying shit out of the back of comic books and getting $1.10 US for my $1 Canadian. Since you've got the historical rates at your fingertips, why don't you show us any 36 month period in the past 30 years where the C$ actually rose against the US$? Excluding the last 6 months of course...

i want the aud higher then the usd again so america cant make war:)

Mexico's money is worth even less than U.S. money, so their president must be doing an even better job than Bush. :1orglaugh

It's funny how people try to spin Bush fuck ups into good news.

Then the dollars is worth less than the Euro, it is not a good sign for America.

If Bush gets four more years, we're really fucked.

Actually the canadian dollar rose yesterday, and they are doing everything possible to KEEP it from going up as it makes inflation terrible and it makes our exports more expensive. I will agree it sure hurts when your getting paid in american dollars, but i assure you your better off it staying low because when the canadian dollar rises the cost of inflation increases faster than the dollar does.

And as someone pointed out the rise in the looney a few months ago was because of the american keeping their dollar artificially low. A lesson the canadian government needs to learn faster.

A lesson in economics.