Loonie drops down to 79 cents

[ZenOps]

79 cent special discount, you pay cash - no visa.

[AG_Styles]

Considering almost everything in Canada costs more to begin with, it's terrible. Dollar drops, gas prices still increase. Canadians will be ones losing their savings in a blink of an eye. Apparently it's predicted to drop to 75 by April, and past 70cents after and last til at least 2017 or some retarded year.

[Nitro5]

Wait, wasn't everyone complaining that when oil was high and our dollar strong it was killing every other business in Canada?

[benyl]

Race to the bottom. Let's see who gets there first.

[max_boost]

Vacation just cost 10% more vs a month ago. That's about all I know.

[Speed_69]

Originally posted by max_boost
Vacation just cost 10% more vs a month ago. That's about all I know.
Doesn't look like I'll be travelling to the states any time soon with these exchange rates.

[Sugarphreak]

...

[spikerS]

it comes and goes in waves. It wasn't long ago that our dollar was sitting at like $0.60 against the USD.

I can still remember my brother proclaiming that if the Loonie rose to $0.75 he was going to Vegas baby!

This is great news for Canadian exporters dealing in USD.

[tirebob]

10-12 years ago the loonie was WAAY lower than it is right now, well down into the low 60's, and we were booming along everywhere in Canada. Shit I moved to Calgary in 2004 and it seems to me people were making money (and spending it) hand over fist compared to any time over the last 6-8 years...

I am not putting a lot of stock in the doom and gloom BS... Just another cycle

[freshprince1]

Crap . Heading to Maui for 2 weeks in April and need to get some US cash. Should I go now or gamble that it comes back up before we leave? Or risk it going even lower? :banghead:

[01RedDX]

.

[Jlude]

Originally posted by freshprince1
Crap . Heading to Maui for 2 weeks in April and need to get some US cash. Should I go now or gamble that it comes back up before we leave? Or risk it going even lower? :banghead:

You should have already gone...

I'm a Canadian based company with 85% of our work coming from American clients. This is the first time we have seen benefit from the exchange rate, since we have been in business, it's been on par or better, so this isn't too bad for us.

[BigMass]

Originally posted by 01RedDX
Look at the 40 year chart - the two currencies always tend toward parity. USD peaks are always followed by precipitous drops, which got more frequent and more precipitous in recent years. This won't last long.

http://i.imgur.com/cVPm78a.jpg

I agree. People are delusional if they think the US is going to raise rates this year. More like QE4

Remember our dollar is pricing in 2 more rate cuts, a rate increase in the US and $40 oil for the long term. I'm going to predict that all three of those events are not going to pan out.

[shakalaka]

Vegas in April...will wait till last minute to get the US cash..whatever don't care.

[Dave P]

Phx next week, Whitefish week after that.

Dont Care. Vaaacaaaaaaaaaaaaaaaaaaaaay

[CokerRat]

Originally posted by 01RedDX
Look at the 40 year chart - the two currencies always tend toward parity. USD peaks are always followed by precipitous drops, which got more frequent and more precipitous in recent years. This won't last long.
Many would argue the long-term balance should be around 0.85 (~1.18) and it has historically varied within +/- 20% of that over the past 40 years or so.

[Tik-Tok]

Originally posted by CokerRat

Many would argue the long-term balance should be around 0.85 (~1.18) and it has historically varied within +/- 20% of that over the past 40 years or so.

Many people in Ontario.

Manufacturing takes a hit when it's at parity, which is all Ont. has going for it.

[TYMSMNY]

Originally posted by shakalaka
Vegas in April...will wait till last minute to get the US cash..whatever don't care.

Same, going in a couple of weeks.

[themack89]

Currencies make an already complex system even more complex. I don't think anybody really knows or understands the full story of how big currency shifts will affect things over time.

[ExtraSlow]

Vegas in march, it's been booked for months. I guess my lap dances are now 20% more expensive.

[Feruk]

Originally posted by Nitro5
Wait, wasn't everyone complaining that when oil was high and our dollar strong it was killing every other business in Canada?
Only those that didn't realize Canada is a one trick pony now. Manufacturing in Ontario? Don't make me laugh.

[spikerS]

Originally posted by ExtraSlow
Vegas in march, it's been booked for months. I guess my lap dances are now 20% more expensive.

You could save some cash and have the wife fill in...

[ExtraSlow]

Well, it might feel awkward getting a lapper from your wife, but ok, send her over.

[mr2mike]

Originally posted by Feruk

Only those that didn't realize Canada is a one trick pony now. Manufacturing in Ontario? Don't make me laugh.
Haha yep. If you need to rely on exchange rates to make a go at it, you're doing it wrong.


Originally posted by spikerS


You could save some cash and have the wife fill in...

"Baby, you don't want me wasting 20% more of our savings and child's future education... dance"

[Ben]

I was pretty surprised that the 1000USD I got for 1050CAD this time last year last year just cost me 1315CAD on Friday (30th).

Already saved the difference however this month alone on fuel so I suppose if you look at it like that it's digestable. From one hand to another I guess. I dislike because I travel a lot.

[v2kai]

Originally posted by ExtraSlow
Well, it might feel awkward getting a lapper from your wife, but ok, send her over.

:rofl: well played

[BigMass]

USD went up too far too fast given the weak numbers coming out of their slowing economy. Lets not forget the 4.5 trillion dollar Fed balance sheet which will stay there forever as there is no possible way for them to ever unwind it. People will be in for a shock when the Fed doesn't raise rates this year.

[bball2]

Where's the best place to exchange USD dollars to CAD with minimal transaction charges? Looks like most places have about 2.5 - 4% charges compared to what's listed online:

1 USD = 1.2523 CAD from bank of canada

1 USD = 1.2177 CAD from CIBC (from the past weekend)

1 USD = 1.2246 CAD from TD

[BigShow]

Calforex is good, otherwise my home branch mgr has offered 'special' rates before.

[sabad66]

Canexforex in eau Claire has pretty good rates. Better than any bank for sure

[The_Penguin]

Hmm guess I'll convert straight to Pesos instead of taking USD to Cabo.

[quick_scar]

Originally posted by The_Penguin
Hmm guess I'll convert straight to Pesos instead of taking USD to Cabo.

I was just going to ask peoples thoughts on this. Going to mexico for the first time in a couple months. Was going to ask if I should be taking Paseos, USD or both.

[Neil4Speed]

Originally posted by quick_scar


I was just going to ask peoples thoughts on this. Going to mexico for the first time in a couple months. Was going to ask if I should be taking Paseos, USD or both.

I would take Paseos, its their home currency. I remember that being best when I went.

Edit. I guess it also depends where you go. If your going to a boarder town with the US, US$ may be better.

[HiTempguy1]

Pesos. You'll pay more with usd. Plus if prices are only posted in usd, I usually start by offering 10:1 ratio of pesos for an instant 20% off.