Shrinking Canadian dollar

I think it might be wise to not have the loonie so closely linked to the price of a barrel of oil. Maybe a more diverse foundation would be a good thing. Just a few years ago you would have laughed at this, but not so much now.

We "like" the exchange rate where it is - make us feel at home. Makes everything the same as we pay in Canada.

On our fixed income this is going to make it almost impossible to go to our place in Texas this year. We did pay our site rental in late May at 0.94 on the dollar but the cost of food, gas, propane and entertainment at 0.70 will be very hard to justify for us.

Its more expensive in Mexico as well, despite the fact the exchange rate of the Canadian dollar against the peso is largely unchanged. RV parks down there have acquired a nasty habit of pricing themselves in US dollars. Its illegal so when you go to pay, they go on line look at the exchange rate and convert to pesos, in other words you pay 20% more than last year. If a park in Canada tried that it would be out of business in a week. I am acquiring the habit of only using parks who price themselves in Pesos. They pay their bills in Pesos, they pay their employees in pesos, they should not be charging US.

Read last week that the CDN dollar is projected to be at 70 Cents by year end. By the time we exchange at the bank that will be an impact of 65 cents. Ouch!

3oaks wrote:
Hang in the Canadians.
The way our Federal Reserve here in the U.S. is manipulating our currency, you will have the advantage over us and our funny money.

We'll all be in the same boat come October when the IMF removes the dollar as the reserve currency with the upcoming push of the Yuan....Dennis

Hang in the Canadians.
The way our Federal Reserve here in the U.S. is manipulating our currency, you will have the advantage over us and our funny money.

We're in upstate NY during much of the summer months. This year from early May, there has been roughly a 20% drop in Canadians visiting our campground where we seasonal. Also a similar drop to cross-border shopping in the region according to the local media.

It will affect our daily expenses while in the US but when we started this 12 years ago the dollar was worse so for us it's fine. We bought our RV property in the US a few years back when the dollar was in the mid 90's so other than our maintenance fees it's not really a bother as far as accommodation. Our maintenance fees cover our golf too so other than groceries we don't have much in the way of expenses. We are about 7 years away from turning 60 and ending our snowbird lifestyle in the USA. If the dollar is low then it will make for a nice little bonus on the real estate value when we sell. .)

80 cents US for a Canada dollar is bound to hurt. But I can remember getting a Canada dollar for 65 cents US.