Monday, March 09, 2009

Canadian Dollar at a 4 1/2 year low vs. US Dollar

Here's a nice little perk for Americans living along the northern border. Remember that large frozen land to our north that you used to visit way back in 2003 when a Tim Horton's coffee cost just $0.72 US?

Well, thanks to the collapse of energy prices (which are recently rebounding) and the flight to safety in the US Dollar, the Canadian dollar has fallen to an exchange rate of about $1 US to $1.30 Canadian.

This is a far cry from the days (last year) when the Canadian dollar traded at par (equal) to the US dollar.

However, this is probably a zero-sum game for the North Country because the benefits you see personally from lower costs associated with your visit to Canada may be offset by fewer Canadian tourists and shoppers crossing our the border to visit Watertown and the 1000 Islands.

Cheers!

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