1 U.s. $ = 1.10 C$ !!!??

[CanadianGuy]

Unbelieveable. The loonie broke the $1.08 mark this morning. EDIT: now the 1.09 mark.. (9:23pm EST)

[EDIT: 7:22am EDT 11/07] Now at $1.10

Insane.

 

[Wazzo]

 

[SeanK]

it should hit 1.10 before our trip down! It will be nice that i don't have to figure out what something is going to cost for once

 

[riu girl]

OK, so I want to book a cruise for late 2008 and the deposit due is $1000 US. Anybody with a crystal ball out there want to give me their opinion on whether I should book now or wait and see if the Cdn $ goes up even more?

i am so happy I didn't book a few months ago.

So if the exchange rate is 1.08 and my credit card charges 2.5 %, does that mean that in reality I can expect approx 1.05 for an exchange rate. if I was to book now?

 

[East Coaster]

Riu Girl,

That's about right, just subtract 2.5% off of the going exchange rate and that will be your rate. I have found through experience that with CC's the rate is actually based on the time of day you make your purchase, as the rate fluctuates throughout the day.

 

[CanadianGuy]

A buck-oh-nine. That's almost 2 full cents today.. Crazy.

RIU - I'd wait.. I would just totally wait for the next few days anyway. Book when it hits 1.10, which at the rate things are going should be Friday.

All that said, This can NOT be good for the economy.

There's just no way this is good... except for vacations.

Knox

 

[East Coaster]

No, it's probably not good for the economy! But.............lets hope we have a few more good days like today to finish booking our vacations and paying for them before the dollar returns to normal!!

I really couldn't write a bragging story on the brag thread yet but I can certainly tell you that I'm glad I'm not paying 30% as we did a few years ago.

 

[CanadianGuy]

Well heck, just back in March I paid 1.18 C$ for 1 US$ and then in June it was like 1.15 or 1.16..

So this turn around is brain-warping for me.

Souvenirs! I might actually buy one!



Knox

 

[riu girl]

Thanks everyone for you opinions. I really appreciate it.

 

[mousy_in_canada]

It just hit a $1.10 this morning! I think when it does it fall it will fall fast JMHO but it can't stay this high for long. Enjoy it while we can and get as much paid off as you can now... I am off to the bank today to buy some more $$

 

[CanadianGuy]

Unbelieveable...

 

[BitsnBearsMom]

Wow - thinking I'm going to change over all my money for our March trip and finally get it paid off today or tomorrow.

wonder how long it will hang out at 1.10

 

[Daisy*Duck*y]

Deleted

 

[SeanK]

if it's already at a 1.10 i should go up more, they don't expect it will drop until jan

You confused me for a second - I wondered if there had been a sudden gigantic crash!
$1 Canadian = $1.10 US

 

[mousy_in_canada]

it is sitting at a 1.07 right now... keeping my eyes on it to see what happens

 

[braddillman]

This morning (Wed) a senior Chinese official said they would begin to focus on stronger currencies than the USD - meaning they could begin selling USD and buying... hmmmm... CDN?

Also, I saw an analyst calling for $1,000 USD/oz gold. That's about a 20% rise. A 20% rise from $1.07 is about $1.28.

Personally I have a loan in USD on an Orlando timeshare, and I'm not waiting for $1.28 to pay that off with CDN. I'm still hoping for $1.10 again, though. But it might not get back there. Who can say?

Watching the CDN is certainly helping while away the hours waiting for our trip in April '08.

 

[OntFamily]

Riu Girl,

That's about right, just subtract 2.5% off of the going exchange rate and that will be your rate. I have found through experience that with CC's the rate is actually based on the time of day you make your purchase, as the rate fluctuates throughout the day.

The exchange rate is based on the date the charge is posted to your account, and not the date of purchase. It can sometimes take 1 - 3 days for a charge to post.

 

[delta123]

We leave this sunday. We exchange money yesturday It cost us $936.00 canadian for $ 1000.00 US LOVE IT !!!!

 

[McKiggan]

If I had to bet the farm on what's going to happen, I wouldn't assume a long sustained increase against the USD.

The increase in the Cdn dollar is mostly due to the USD tanking. I think the USD is likely to continue to drop against other currencies worldwide.

BUT there is only so low the USD can go before it starts really hurting significant parts of the CDN economy (auto parts exports, cdn manufacturing, lumber, farming, tourism etc.).

Once those sectors of the economy start to hurt the Bank of Canada will be forced to drop interest rates to stimulate our economy, which will make the CDn dollar less attractive for investors.

But what do I know, I can't even balance my chequebook ;-)