Canadian dollar trading even with the US - C/D

This further hampers any designs I had on taking another Montreal/Vancouver trip.

When I went to Vancouver five years ago, I remember most of the prices for food and services being the same as in America, but with a special 33% discount for Americans.

The salad days.

People who go to Buffalo to shop will be happy. I don't, so I don't really care. Prices aren't going down on anything, so it doesn't affect me. Magazines, books and cards still have the two prices, with Canadians still paying about 50% more.

As someone currently living abroad who maintains bank accounts back home both for saving and for servicing debts, the Canadian dollar's steady 4-year climb has already cost me literally tens of thousands of dollars in lost savings and spending power

yup

(ok, not the TENS part, but still.)

I don't understand how the Canadian dollar's climb would cost you if you have Canadian money in the bank...wouldn't it be worth more, then? (Sorry, currency always confuses me even though I know I should get it by now....)

Was also depressed myself to see that the Euro hit $1.41 American, as I'm living in Europe on a fixed amount of American money. Grr.

When I was living in the UK a few years ago it was great to be able to take any savings there back to Canada to pay off debts (and shop, etc) when the pound was 2.5 times the loonie. Now, not so much.

I may just be one of those people who goes over to Buffalo. I wonder when the first Leafs/Sabres games is there. Game tickets are way cheaper down there already...

maria, in my case its canadian debt (student loans) that i'm trying to pay off. strengthening cdn $ means my gbs doesn't stretch as far.

lol when i was living in vermont in 99/00 everyone was always all LETS GO TO CANADA AND SHOP YAY!!!

"maria, in my case its canadian debt (student loans) that i'm trying to pay off. strengthening cdn $ means my gbs doesn't stretch as far."

Same here. My salary is paid in (Japanese) Yen, so each month when I transfer money home to my Canadian account, the stronger dollar means that after it's converted I end up getting less for basically the same amount of Yen. Since I've been gone, the dollar has increased 40% in value against the Yen. It makes a REALLY big difference. I won't get into specific figures, mainly because I would probably just start crying.

So the answer here is to move to Canada, yeah?

I took the test, once I graduate and learn a bit more French, I'm in.

LET'S GO SHOPPING BITCHES

I'm just hoping the pound holds up against the USD long enough for me to splurge like crazy in November when I go to LA.

i'm surprised my canadian ex has not called me to gloat yet.

oh ebay... ohhhhh...

I spent a year in Quebec in 1994, indulging in "99 cent" pizza (64 cents) and items from the "dollar" store and generally living well with C$1.45 for every dollar I spent. Even going to Toronto in 2002 during the week between Christmas and New Years, I stocked up on CDs and clothes during the crazy after-Christmas sales at a rate of maybe C$1.40 on the dollar.

Turnabout is fair play.

Kim otm!

srsly!

I long gave up going to Canada, or Vancouver in this case, just as a shopping destination. Years ago, the low loonie was an extra bonus, but that is all it was. There are still great reasons to visit Canada besides cheap prices.

Also I finally have a good excuse to pressure all my long time Vancouver friends to visit me here in Seattle. I just make the little here-doggie sounds and say the word "bargains" and they are now heeding my calls. Hooray!

British Columbia, excuse me BEAUTIFUL British Columbia, license plates are now more common than Oregon license plates in this city if you don't count the Washington ones.

this is crazy although i'm always a little skeeved by people's eyes lighting up at stuff like this because i just find it hard to believe people have enough money for this to actually make some kind of huge diff - i mean, if you run a hedge fund this is obviously serious for you, or if you have an inheritance stashed as canadian treasury bonds or something but, like the price of CDs? an ipod? clothes? do you really buy so much STUFF that this is some huge deal?

Tracer, it is more of a psychological phenomenon than a practical one. The loonie has been hovering just below the American dollar for over two years, but because it didn't quite break that psychological barrier of being the same or higher, Canada was still believed to be that country with the weak dollar. Now that the news is spreading, Americans and Canadians both will be overreacting to a reality that has been the case for quite a while. The overreacting will stop, but the perspectives of the Canadian dollar will not as long as the current trend continues.

Now if the Canadian dollar is stronger AND a Democrat becomes president, THEN Americans can expect to get more visits from our Canadian friends.

I am not taking into account those who have large investments. I'm sorry you guys have to deal with that.

Sure, Tracer. When I shopped in Canada and found a CD on sale for C$10, that was a great deal, and now not so much.

The best two pairs of pants I've ever owned I bought at Caban (now closed) for about C$70 each, which came to about $45 U.S. I would be more reluctant to spend that much now.

And this is great as far as it being easier for all those good Canadian indie musicians to tour the U.S.

Since shopping is the topic, I did notice that clothing stores in Vancouver always lower their prices to be equal to the American prices but the costs of a new CD is now twice as much as it is in Seattle.

Now here is my question to the Canadians. Can you buy music online in Canada from American web sites without paying a large tariff? Kim mentioned eBay, so I am guessing something like Amazon.ca is going to be the same as Canadian music store prices.

I think the $300 price difference on new Macs is worth the short drive across the border. Drug store stuff is also waaaay cheaper in the US already, so stocking up at Walgrens or whatever is also worth it if you're down there already for a big-ticket item.

caban was a pretty good store for a while there! when it actually had an equal ratio of clothes to housewares and the clothes were always on sale

i think i'm going for a day-hike in vermont this wkend!
the dollar parity also makes a difference re: gas prices
ok i might go to target too if there is one to be found

xpost

"i just find it hard to believe people have enough money for this to actually make some kind of huge diff"

As I mentioned earlier, for people who routinely transfer even moderate sums of money between accounts in different countries, exchange rates do make a very big difference.

when i have to transfer money between countries - and it's always moderate amounts - i'm only doing it because i have to, and if i have to then it doesn't really matter what the exchange rate is because i'm gonna do it anyway.

...

so you wouldn't be happy to get more money or sad to get less because you had to do it anyway?

look i'm a little disorganized OK

end times

say i transfer £500 to a US bank account. that money is now worth $1000. whereas last month it would have been worth what, $990? am i going to delay purchasing a pair of jeans because of shit like this?

(actually, given that i buy clothes like once every two years there may be some sense in watching the currency markets)

I should've just put some money in a Desjardins account five years ago. Cha-ching.

so you wouldn't be happy to get more money or sad to get less because you had to do it anyway?

More or less than what? The exchange rate is the exchange rate, there's no secret rate for people in the know unless you happen to be a futures trader of some kind.

yeah, that would have got you like what - two big nights out plus an ipod!

xpost

Yeah!

If I ever meet any American that went to Canada and cashed $10000 in Canadian in 2002 (because Americans have to explain anything that is above $10000 Canadian during a trip) and kept it all this time, I will make a public announcement, make gooshy eyes with this person, and distribute free Ipods to every one in this thread.

It's pretty classic for Canadians, but this is more a measure of the US dollar's slippage than Canada's rise.

Since I am paid in US dollars and the dollar is swiftly becoming a second-rate commodity, due to this administration's shitting on the dollar in every possible way, it is one fucking dud for me and most of my compatriots. We'll be a long time digging out of this hole. Thanks for nothing, Republicans.

Tracer, CDN dudes be talking about the buying power of their foreign currency income for routine expenses and savings back home. of course it makes a difference!

i.e. i'm glad me and Z are NOT living in Bermuda off a single USD salary right now after all because it would no longer be enough total income against our cost of living. it was an attractive/viable thought two years ago.

As a Canadian I don't really feel the benefit because everything's still priced higher than American prices, but if we ship things from the states, S+H prices + customs = was that even worth it?

Well, that's true - prices here are still higher, but one would hope that this will change if it looks like the currency is going to 'stick' around parity (or above) for a while.

Companies like Apple (sorry to use them as an example again), should have an easier time changing pricing, so I'd like to see CAN/US synchronization of prices on global products since there's generally not much reason for the disparty other than currency value.

Or maybe I'm wrong about that? Maybe products have to be priced higher in Canada because of tariffs or distrubution costs or other factors beyond currency value?

What tariffs???

I ca'nt remember if the blank media tariff still exists or ever existed, but any such things would be more to the tune of like $20 on a $1000 computer so it's mostly irrelevant.

That's what I thought... I'm not an expert in import/export policy differences between the US and Canada - I am aware of the NAFTA but I was just wondering if there were other costs involved that led products to be priced higher in Canada.

There's a much steeper tax rate, but that's not included in the advertised price. And when you import form the states, you essentially pay that tax in customs, if not more (I don't know the specifics but it's steep! send things to Canadians as a "GIFT," please!!!)

i know!!! i just had to pay $7 for a book i got as a thank-you gift for a donation :/

That's why we pay so much stupid fucking tax. When Mulroney sold us out with the free trade - all tariffs were scrapped and the gst was created to offset losses on the federal gov'ts income. Gotta love financing the US takover of our economy.

fucking mulroney i hate his guts.

when i have to transfer money between countries - and it's always moderate amounts - i'm only doing it because i have to, and if i have to then it doesn't really matter what the exchange rate is because i'm gonna do it anyway.

-- Tracer Hand, Friday, September 21, 2007 11:43 AM (2 hours ago) Bookmark Link

Yeah, this is pretty much my take, too. Plus, it takes me too long to figure out whether, say, US$1 = Cdn$2 is good or bad.

Classic for being able to throw it in American's faces when they get all "You'd so be our bitches." Otherwise, it makes a pretty minor difference in my life, though I suppose Canadian money will go a little further towards tuition and rent. What really grates is that at the border and at the bus terminals etc, they still discount Cdn money by 25-30%.

am going hiking in vermont tomorrow, so got my passport out and found that i also had american $$ in the place i keep my passport! it is good, because, y'know, money i didn't know i had, yaay! BUT not as good as it used to be, which was YAAY AMERICAN MONEY. now it is just, y'know, money. wait. yaay money!

Daerest Canadian Ebayers, quit asking me to lie about value on customs forms. Oh, and I probably won't ship to Canada anyway.

oh cmon

pfff, typical american! ;)

I have never had to pay customs/import tax on all the CDs/LPs that I order from the US. I have no idea why.

According to the last dude who asked me, anything under $20 doesn't get charged an import duty.

Aha! That explains part of it, but even with pricey items from Amazon.com there is no tariff.

Since I am paid in US dollars and the dollar is swiftly becoming a second-rate commodity, due to this administration's shitting on the dollar in every possible way, it is one fucking dud for me and most of my compatriots. We'll be a long time digging out of this hole. Thanks for nothing, Republicans.

-- Aimless, Friday, September 21, 2007 5:34 PM (2 days ago) Bookmark Link

agreed.

otherwise, lots of (perhaps willful) stupidity about economics on this thread.

Cursing the fact that I'm a Canadian living in New Zealand, where the Kiwi dollar was recently downgraded as it edged up past 80 cents against the US (now at about 74 cents). Damn export-based economy.

CANADA

YES

whut

i was pretending to be canada for a minute there no worries

hahaha. i love canada! it is a great country.

Yus.

http://webhome.idirect.com/~royschmaus/camp/beaver.gif

i stopped reading halfway through, but i want to respond to tracer. it isn't so much that the GBP, EURO, and CDN have gained value, but that the USD has lost it. and that sucks for people in the US, like me.

halo 3 us price: $60
canada price: $70
wtf :(

Head of Morgan Stanley Asia: "So far, the dollar’s weakness has not been a big deal. That may now be about to change."

Paranoid yet?

totally ot - but that page Ned linked to is fantastic. you can double click any word and it gives you the meaning! Even "the"!
Sorry if this is old news for everybody and i'm embarrassing myself. i'll stop; besides i have words to go click

Today's Canadian Dollar to U.S. Dollar Exchange Rate: 1.0865
http://ichart.finance.yahoo.com/3m?cadusd=x

I hope the dollar gets worse so I can go back the UK and pay off all my student loans at least before I die.

i am going shopping in nyc

Economic tourist!

It is ridiculous though. I have two sets of visitors coming over this month and the dollar is like play money to them. You can see it in their eyes, how much they want to buy things!

maybe they'll buy you things though!

I think I'm going to be fed. That's enough for me.

We should form a North American union and call our currency "doso's". I'm sure Mexico wouldn't mind.

I eat 75% of my meals in a college cafeteria!

xp

what's the highest the CAD has ever been vs. the USD, adn are we on course to shatter that rekkid?

Well, the thing is that CAD has been lingering below parity for well over a year. Figure in the higher sales tax, and it practically *has* been parity. It's only now that people are waking up because the actual dollar-to-dollar comparison is showing the CAD slightly stronger than the US, and Americans are now going "OH MAN, IF EVEN CAD IS HIGHER, WE'RE SCREWED MAN!".

There's a lot more to be worried about re: U.S. economy surely, but the CAD rising isn't anything to worry about. Just get used to lots more Canadian tourists if you live in a border city like Buffalo or Detroit or Bellingham or Seattle, etc. In fact, they can bring fun! (interpret that however you want.)

I mean, just talking music geeks here. A typical CD on sale at HMV Canada costs $18CAD. You can get the same CD in the U.S. for $10CD if it's on sale. That's 2 to 1, after exchange and tax! The number of Vancouver people who buy the piles at Easy Street Records on the weekends is helping that store's net profits alone.

Also, selling your car in Seattle or Bellingham is now easier, especially when people from Vancouver call you and make better offers than your neighbors.