Saturday, September 22, 2007

Canada, Eh?



On Thursday, the Canadian loonie (our dollar) surpassed the U.S. dollar for the first time in 31 years.

And on Friday, “The Canadian dollar opened dead even with the United States dollar…and despite a slight pull back early on moved back above the $1 mark.”

I’m not getting into the economic pros and cons as to this momentous occasion but I will say this:

I feel like a kid whose allowance finally caught up to that of an older sibling’s!

It’s almost worth taking a trip to the U.S. so that upon my return, I’m not floored by my Visa balance due to the exchange rate. Those years when the Canadian dollar was worth about $00.68 U.S. were brutal.

Not sure how long this will last (and things are still more expensive here) but I’d love to figure out a way to benefit from this historical fiscal moment!


19 comments:

JR's Thumbprints said...

Please spend as much as you can in Michigan. Anything to help our economy.

Beth said...

jr:
Uh, Michigan wasn't my first choice of destinations - but I'll give it some thought!

Bec said...

I dropped $300 in clothes in Detroit last weekend (read my latest to see what kind of clothes), and my future sister-in-law is buying her wedding dress over there tomorrow. Now, if only Canadian retailers would drop their prices... We pay so much more for the EXACT items available in the States.

Mamma said...

So all this time I should have been shopping above the border? I just thought everything cost more Loonies.

All Mod Cons said...

What's the Canadian dollar like with Sterling? That's what I'm after!

Princess Pointful said...

Haha... I know what you mean. It feels a little triumphant, somehow!!

Beth said...

bec:
Congratulations! Baby clothes!

Supposedly, we should see a drop in retail prices but I'm not holding my breath!

mamma:
See bec's comment. You might have found some deals, but things are more expensive here. (Still.)

princess pointful:
It does, doesn't it? Not sure exactly why.

all mod cons:
Check out this site:
http://www.bankofcanada.ca/en/
rates/converter.html

oreneta said...

Go. Buy. Books.

You know, the price on the back is about $10 in the states....

Though looking at the numbers they sell, the authors maybe wish we would buy in Canada.

Eileen said...

WOW, I had no idea! One of the reasons I loved to vacation at Fern Resort, was the huge discount that came off our Visa Bill at the end of the vacation. Or going to the Casino in Niagra Falls, putting in a $20.00 and getting more money to play the slots with!
Glad it is even, it never made sense to me why it wasn't. Or why on earth it is so much more expensive. I can get to Canada in about 3 hours, driving, and the prices are so much more. I made the mistake of filling up with gas in Canada, and I almost fainted. This was years ago, but I couldn't believe there was that much of a difference!
So Beth, where would your first choice of destinations be? Just curious.

bec said...

If you can't get to the States, shop online. My husband just ordered two pairs of pants from JC Penny and the shipping is only $13. (On the other hand... it's probably way easier for guys to buy things like pants online.) But books - great idea Oreneta.

Beth said...

oreneta:
Think about who you're writing to! What you should have said is DOUBLE the amount of books you buy!
And I just might. And if ordering, I'll check Amazon.com rather than Amazon.ca

eileen:
Boston, New York, the Carolinas...it's a pretty long list.
And gas prices are still horrendous in comparison.
As for a discount on a Visa bill, I'm just happy prices will be on par!

bec:
Good thinking - except you're right about some women's clothing.
But books? Yes!
And until retailers lower the prices here, I'll bet a lot of Canadians buy on-line from the U.S.

Reign said...

A lot of people out there travel abroad just to earn dollars. Good thing you're just right there.

Go! spend it! ;0)

nice post!

Shari said...

There's an Amazon.ca? I thought it was all Amazon.com.

I better start being happy I get Canadian coins slipped to me by cashiers when I least suspect it. (They always do that!! They don't want the coins.) Of course, now, they'll keep 'em.

Beth said...

reign:
I don't think traveling abroad is a career option for me!
(Thanks for visiting.)

shari:
The only coins I've ever managed to slip past cashiers in the U.S. are pennies!

The Guy Who Writes This said...

I remember the last time Canadian money was worth more than US money, and shop keepers would remind you all the time that you owed them more, but when the situation reversed, they weren't quite so quick to call attention the the exchange rate.

Yes Shopping in Canada was great the last couple times I was up there, and if you saved your receipts you could get a rebate on the sales tax.

Maureen said...

Yeah, it's great, but how the heck can we Canucks get books and magazines and such without the 50% markup still? I was down in the US to take advantage of our par dollar... a book I really wanted was still marked $34 CDN, but only $19 US.... so I bought it in the US.

Beth said...

guy:
I watch in envy as visitors collect their receipts in order to get a rebate on the sales tax.
Yup, we pay more taxes here. Is it worth it considering what we get in return? Generally speaking, I think so.

maureen:
I think if we all start buying U.S. the retailers here will quickly clue in. Hope so.
Thanks for stopping by.

psychgrad said...

It is quite exciting. I was considering exchanging a bunch of Canadian money into American dollars...just in case loonie dropped again. But, I don't want to jinx it.

Interestingly, my mom went to Buffalo and they were still saying that $16 American = $20 Canadian. So be aware of American shops that are slow to recognize the parity.

Beth said...

psychgrad:
Today's Globe and Mail has an article stating stores in Buffalo still won't accept our cash.
This might take awhile to catch on.