Canadian Dollar Soars Above U.S. Dollar

Posted by Johan Cyprich on 20 Sep 2007 | Tagged as: Business

No one can call our dollar the Canadian Peso anymore. Its currently valued at $1.0044 USD as of September 21 5:09 GMT. It hasn’t been worth more than the American currency since November 1976. I’m sure this will go well with voters in the next U.S. presidential election. It looks like the next president will be a Democrat, but I’m still hoping that Ron Paul gets the job.

Lucy, You Got Some ‘Splaining To Do!

Why is our dollar gaining so much ground against the American currency? The typical explanation given is that U.S. dollar is falling against other currencies (especially the Euro) and commodity prices are gaining strength.

With our rising dollar, its less expensive importing from the U.S., but exporting goods there have decreased. According to Statistics Canada, around 250,000 factory jobs were lost in the last 5 years. This has been offset by the fact that Canada’s jobless rate is at the lowest level in 30 years.

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The Effects of a Successful Dollar

There will probably be fewer day tourists coming to visit from America, but the ones who stay for longer periods will continue to visit. Tourists who come to Vancouver aren’t here because they want to save money on a vacation. Vancouver is one of the most expensive cities in Canada to live and shop in. The great appeal is that its a beautiful city and a visit can also be made to Victoria which is an even better city. You also get to see where many American TV shows and movies are made. :)

The people that are hurt the most by the dollar’s value are those who do business in the U.S., in particular web site owners who use American affiliate programs. I would like to see our dollar worth less so I can get more money from the Adsense clicks. :)


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3 Comments »

3 Responses to “Canadian Dollar Soars Above U.S. Dollar”

  1. on 24 Sep 2007 at 2:46 pm 1.Juan Millon said …

    You know I was reading about this the other day and the only thing I could think was OH CRAP. I wonder — is it time to be worried? Recession?

    What’s a small business owner to do??

    BTW your “You didn’t pass math” anti-spam thing is kind of nutty. I’m pretty sure that 8+4 = 12 but your script didnt seem to agree. Might want to check on it! =)

  2. on 24 Sep 2007 at 2:47 pm 2.Millionster said …

    Just testing to see if it would mess up again hehe.

  3. on 25 Sep 2007 at 12:20 am 3.Johan Cyprich said …

    Recessions come and go. Its unavoidable. You need to look into how to your business can weather such events.

    As for the math question, I’ll look into what could be causing the problem. Thanks.

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