Monday, October 27, 2008

Speaking of scary.....

Have you seen what the exchange rate is between Canada and the U.S. these days? For most, this probably doesn't matter, it just means that Americans can get more for their money when they come to the "Great White North" and that Canadians are less likely to drive across the border to Buffalo for shopping trips, as was the case about a year ago at this time when the Loonie was actually worth more than a dollar. This month, the Loonie has plunged more than it has in a single month since 1950, and it is at its lowest overall rate against the U.S. dollar since 2004. The official close at the bank today was 1 U.S. dollar = 77.59 Canadian cents. They're saying that it could get as low as 70 cents to the dollar before this is all said and done. It does mean that there will probably be some good sales up here around Christmastime, but still.....that really sucks for us Americans being paid in Canadian dollars, eh?

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