U.S. dollar in parity with Canadian dollar

[sweeps]

U.S. Dollar continues its slide

[thekid]

A few years ago, a canadian dollar was worth 0.65 USD. I had heard stories that back in the old days the Canadian dollar was at par with the USD. This will hurt Canadian exporters, but mind you the Canadian economy has continued to be very strong even as the dollar has risen. Time to go shopping south of the border I guess.

[DebbieL]

About 6 years ago I had to buy $100 US for my boss to take a day trip to Bainbridge Island. It cost over $160 Canadian (our dollar was hovering at around 61 cents US at the time I believe). I nearly puked. That was depressing. What really shocked me was that he brought back a receipt from Dairy Queen and it was more expensive (in American dollars) than up here in our own dollars. I figured out that his plain burger and small pop had cost him over $7 Canadian. No way in hell was I going anywhere near the United States back then. When I was a kid and we would go down there in the early 80's our dollar was worth about $80 cents US or so, but things were actually cheaper down there so it worked out evenly. Not so in recent years. I was down in 2003 and 2005, and I found most things cost about the same (restaurant meals, etc.) as here, but in American funds, so it's been expensive to go down. The only thing I found cheaper was gas. If you are buying a car that's cheaper down there too.

I'm going to Disneyland in December, and looking forward to things not being so much more expensive to us Canadians!

[kv968]

I used to visit Canada quite frequently in the mid-90's and found that even though the exchange rate was about $.75 Canandian to $1 USD (if I remember correctly), most merchandise was about the same price, or even a little less, than in the states. Made for some good shopping.

[DebbieL]

I agree kv. I'm not sure when things changed. Like I said, in the early 80's when we used to go things were quite a bit cheaper in the US, so even though our dollar was worth less it was no big deal. That totally changed (I'm guessing in the 90's). I will enjoy actually feeling like I'm not getting ripped off so badly next time I'm down there with our high valued dollar.

[Broken Arrow]

I commented on that here, but I checked the currency converter again, and yeah, it's now at $1.0014 CND.

[project15]

I guess us US citizens can't make fun of how worthless canadian money is anymore since ours is just as bad.

[DebbieL]

Actually since we have 1/10th the population of the US I'd say ours is pretty good (for how long I don't know).

[loanstar]

would be a good time for currency traders to buy the dollar; currently its down agaisnt most currencies, its bound to go up again some time soon!

[sweeps]

would be a good time for currency traders to buy the dollar; currently its down agaisnt most currencies, its bound to go up again some time soon!

Maybe not. Currency trends tend to happen over long periods of time. There could be some short-term rallies for the dollar, but most economists believe the dollar will continue to trend downward overall for quite some time.

[humandraydel]

I agree sweeps. OTOH, I did read an article recently suggesting the European Central Bank may have to cut rates (or at least stop raising them) just so the Euro cools off some. Up to a point a rising currency helps a country (at least some things...not tourism!) but rising too far can hurt them and if the Euro hits $1.50 europeans may start feeling it some.

[Fred333]

yea the US dollar needs to get going as far as competing with the rest of the world. I remember the days when the dollar was number one and we had great exchange rates.

[Lindahfx]

If the currencies are so balanced, why aren't prices? I was in the US last week and even though the currencies weren't at par at that point, I was able to buy things so much cheaper. I checked out the same box of Pampers diapers that I buy for my daughter:

Target - $19.99
local grocery store to me - $38.99

How can there be an almost $20 difference??? Even if I buy the diapers at Walmart, they are still $36.99 regular price. Plus we have a 14% tax on top of that!