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Canadian Dollar going higher then American.

Discussion in 'General Business' started by INV, Apr 30, 2006.

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  1. #1
    I hate to think about it and just the thought of this happening is making me pretty angry.

    I live in canada but get paid in USD currently and I believe the US currency is at its all time low this year if I am not mistaken. Currently as of today for each 1USD dollar its 1.11 Canadian!

    What are the possible chances that the US dollar is going to go lower? If the canadian going to become worth more not only I am not making a nice extra sum from the exchange but I will be loosing money.

    I am sure many canadians other then myself are really concerned about this because when it was at 1.20 I was complaining really bad how its so low and now I feel SO BAD that I didnt exchange all this money from this damn american currency. This is going to hit me really bad if I exchange at the moment but the question is.. Is it going to go lower? Whats your thoughts
     
    INV, Apr 30, 2006 IP
  2. DomainLoot

    DomainLoot Guest

    Best Answers:
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    #2
    It's a bit of a catch-22...

    Our (CDN) rising dollar signals a lot of worldwide CONFIDENCE in our economy, on the other hand, it is NOT GOOD for CDN exporters or those Canadians who get paid in US dollars. :(

    That's the nature of business sometimes - cycles / ups and downs.

    Who knows what the next few months / years will bring?

    The interesting thing I'm seeing is: a rising CDN dollar, and a CDN stock market that is cooling off? That concerns me more right now.

    No doubt though, the high CDN dollar does "cut into" profits for us substantially.

    Just my 2 cents (about 1.87 cents US) :)
     
    DomainLoot, Apr 30, 2006 IP