Dollar Dropping

[dennise]

Does anyone know what is going on with the dollar? It has dropped to little more than .95 today. Hope it bounces back.

 

[petunia]

I know, anyone out there in the "business" that can tell me if I should buy USD now, or wait it out a few weeks??

 

[yosh12]

Its because of the oil prices that the dollar is dropping. The lower the oil prices go, the lower the cdn dollar goes. The TSX is also dropping and it all hinges on the oil prices.

 

[yosh12]

I know, anyone out there in the "business" that can tell me if I should buy USD now, or wait it out a few weeks??

I would buy soon....oil is suppose to keep falling and the dollar will fall with it. I am lucky I paid my trip off early last week at .98. Still not as good as when we were at 1.10 last fall...LOL.

 

[Ted in Halifax]

Yosh12 hit the nail on the head. If fuel prices go up ... our dollar gets stronger .. if oil goes down, so does our exchange. Canada is the largest supply of oil to the US (almost 2 million barrels a day).