September 20, 2007

Canada dollar on par with $US

If you do business over the Canada / US border then this topic is of interest... for the first time in 30 years the CDN dollar (aka. the loonie) is worth as much as the $US... my guess is this trend will continue and the loonie will outpace the $US before the year ends. Big deal you might say.. well, if your company is based in Canada and you have US clients your services and products are much more expensive now. Its also more costly for Americans to visit the US so it could hurt the tourism / trade show industry as well. No biggee perhaps to some of you but when you consider that the $US used to get you about $1.50 CDN about 5 years ago it really is quite amazing. I also recall getting 1 Euro for 1 $US a couple of years ago... so much for that scenario. More on this via Bloomberg -

1 comment:

Anonymous said...

Luckily most Americans never leave the country ;-) I mean at least 1 in 5 wouldn't be able to find their way back when they look at the map :-)