Canadian dollar continues to drop after warnings about stronger currency
 

Looks like Canadian webmasters are in for good news


By The Canadian Press
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TORONTO - The Canadian dollar continues to fall in the wake of a stern warning from a senior official of the Bank of Canada about the economic downside of a sharply higher currency. The currency dropped about six-tenths of a cent this morning to 102.86 cents US after falling almost eight-tenths of a cent Wednesday.

The loonie has been on a downward track since hitting a record high a week ago of just over 110 cents US, at the same time oil prices were creeping closer to US$100 a barrel.

http://ca.news.yahoo.com/s/capress/loonie

Sweeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeettt

they must've been reading GFY and saw everyone bitching, eh? :winkwink::1orglaugh

"As of last week, the Canadian dollar was up about 25 per cent this year."

Ugh, that's just sick.

YAY for the dive of the Loonie!

can i get an amen!

It's a good thing you only pay taxes on what you actually get in your bank account, because I damn near dropped a tax bracket just on the exchange rate. That is truly sick.

Now all you have to worry about is going through an audit because of the massive income drop. I can't wait.

Amen!!!!

Rate right now off XE is 1.01360... good news. :)

.9878 atually
you will get 975 CAD for 1000 $ ....lets hope for the best tonight

Nope, already did an audit a year or so ago.. ;) All good now and we made nice nice with the auditor. Hopefully that's helpful :)

Yea Saw it on the 530 news I cracked open some wine, just in time for my website launch.

The government is under substantial pressure to put the loonie under the US dollar, to stop some of the problems that have cropped up. The bank of canada, while it is an independant organization, can also feel the pressure. I would expect to see maybe a 0.25% drop in interest rates just to signify that they aren't going to tolerate such a high value loonie.

The downside is that as the loonie drops, the price of gas at the pumps goes up.

TD Bank conversion calculator says
Conversion : 0.97 CAD [exchange rate: 0.9674]

I wish the opposite was true though... i'm in Winnipeg, and gas hasn't moved from $1.04 a litre for almost 2 weeks...but I can guarantee that they will raise prices again to hover closer to $1.10 a litre with all this currency bullshit.

oh wow sweet mother of god thats interesting