Tuesday, May 02, 2006

Loonie up to 90 cents US

I'm both happy and sad to see the loonie breach the 90 cent US mark (story on CBC). I remember the day when the American greenback would give 1.55 cents Canadian. I could buy a chocolate bar, pay with a dollar US, and get over a loonie back! Gone are those days... maybe forever. The rising Canadian dollar is making it harder for me to repay student loans in Canada.
On the plus side, the Americans who sneer at the Canadian dollar may finally realize that it's worth real money. I've had cashiers in the US pick a Canadian nickel out of a stack of change with a look that says: 'Are you trying to rip me off?'. Also, my Canadian friends and family will be able to visit more easily with their stronger dollar.
Either way I'll continue to receive the benefit of less taxes. Moving to the US still looks pretty good income wise. If you're interested in learning about why the Canadian dollar is rising than here's a good read.

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