CDN$ Greater than USD$ – Haven’t You Heard? Not anymore.

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Currently, I’ve been spending my days trying to make heads or tails out of my father-in-law’s Clock Repair Business .. as he is no longer able to, since he was involved in a car accident early November. One of his customers came in today to pick up his antique mantel clock .. and in conversation, he mentioned that he couldn’t wait to get down south to Fargo, North Dakota for some last minute Christmas shopping, since the Canadian Dollar is so much higher than the U.S. dollar now ..

EH? EXCUSE ME? HAVEN’T YOU BEEN FOLLOWING THE NEWS?

ME neither. I haven’t actually heard much on the news lately, although in my own defense .. I listen to my MusicMatch and .mp3’s or internet radio instead of a local radio station, and the Space Channel instead of a News Channel.

You see .. on January 18, 2002 .. was the lowest point in the past 10 years where our Canadian Dollar was in comparison with our counterparts.

$100.00 CDN = $61.99 USD …
January 18, 2002.

In fact .. it has always been like this for the last 30 years – the US Dollar was stronger than the Canadian Dollar and it took more than $100 CDN to get $100 USD

It wasn’t until September 28, 2007 that our Canadian Dollar FINALLY was worth more than the US Dollar!

$100.00 CDN = $100.37 USD …
September 28, 2007.

In fact .. it was big news! And, believe it or not … ONE MONTH AGO TODAY … on November 7, 2007 .. our Canadian Dollar was at the ALLTIME HIGH EVER IN THE LAST 30 YEARS!!!

$100.00 CDN = $109.05 USD..
November 7, 2007

Woohoo! I remember paying for something through my Paypal for $100 USD and it cost me less out of my Canadian Bank. And, like this customer of my Father-in-Law … I bet a lot of Canadians would hope this trend would continue – at least through the XMAS holidays.

Well … the trend did not continue and, in fact .. November 30, 2007 it went back the other way

$100.00 CDN = $99.92 USD ..
November 30, 2007.

Yesterday’s close was even worse…

$100.00 CDN = $98.78 USD ..
December 6, 2007.

(Q) I wonder where our Canadian Dollar will be on January 1, 2008?

Source: Canada Bank Foreign Exchange Rates

Comments

David says:

For me, watching our dollar, as sad as it is to say, is a relief. I am paid in USD, and so my spending power in Canada has been decreasing so much I was nearly having panic attacks.

It is interesting to see things fluctuate, but I didn’t expect the currency to be moving so fast. What a roller coaster ride.

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