The Canadian Dollar

[slepr1]

I'm just blowing a bit of steam due to the fact our Canadian dollar really sucks right now. Today bank rate is US$1 equals CAN$1.23. :thatswck:

I've been planning on buying some parts before spring in the States and its basically 25% more now. The American economy is huge and getting stronger by the day.

The flip side is our Canadian goods for export look cheaper now. Again bad for us since its better to export for more money than sell locally. :black_eye:

 

[Budnicks]

I'm not so sure our dollar is all that good right now {weak somewhat stagnant/slow growth economy still},
yours seems it is just much worse, if it's that much lower than ours...

sorry for your plight...

good luck finding your parts

 

[Bigal75]

Man am I glad I bought my HEMI last spring...I guess that doesn't help your cause...

 

[Moparsmitty]

I feel your pain. Canadians are still streaming down here from B.C. to buy their gas, groceries, etc. but maybe not much longer if the Canadian dollar continues to slide.

 

[terzmo]

it's a never ending cycle.....A few years ago it took over 1.50 to get 1 dollar US.......About 8 months ago,the Canadian dollar was worth more or at par.....2 years ago 90 cents Canadian got 1 US dollar. Cycle...cycle...cycle

 

[Coyoteduster]

I'm afraid that the declining price of oil is effecting Canada much more than here in the States right now since production costs are greater. Hang in there, it won't last forever ...

 

[68GTX4SPEED]

same here in Sweden a year ago I paid 6.30 now I have to pay 8.10 thats up 30 percent, I dont buy much stuff now.

 

[super-bee_ski]

slepr1,
It could be worse...
The Russian economy has "tanked"....

 

[68bigblock]

I'm going to put some larger purchases on hold for now as well. hopefully it doesn't last to long

 

[HT413]

True it hurts you when buying American goods, but it might help your economy rather than hurt it. Low Canadian dollar drives down manufacturing costs for your domestic products which can drive down costs of domestic goods. This is a strong incentive for Canadiens to buy domestic products but also is a strong incentive for Americans and others to buy cheaper Canadian goods as well. This can increase demand sharply, thus increasing your domestic output. It can also help spur job creation as relatively low wages offer an incentive to keep jobs and manufacturing home rather than outsourcing. It seems to me that Canadiens have historically tried to keep their dollar a bit week against the American dollar for those reasons.

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I'd bet this will help your tourism industry tremendously as Americans have more incentive to come north for vacation rather than traveling to Europe where our money is relatively weak.

 

[jj426savoy]

Not that this is gonna help you now but like terzmo said it's a cycle.......i to get most of my parts from the US........i put money aside when I can then when the dollar is strong I buy a couple thousand and keep it in a US. Account......then when the roller coaster ride starts I don't panic.........we also use it for family vacations............. Works well

 

[monaco66coupe]

Look on the bright side,(if there is one) In 1971 When I went to Canada from North Dakota to get my BSA fixed in Winnipeg, the dollar rate was 1.01. 44 years and not much change,,,,The shop thought the bike was junk, too.LoL

 

[Richard Cranium]

Look at the bright side. You still have billions of barrels of beer.

 

[monaco66coupe]

Very good beer by the way. Moosehead, now that is one great beer, but smelly (according to my wife) I can't smell anything.

 

[Photon440]

Look at the bright side. You still have billions of barrels of beer.

Come on over, I'll start chilling one for you.

 

[Budnicks]

Hummmmmmmm BEER

 

[HYRDGOON]

True it hurts you when buying American goods, but it might help your economy rather than hurt it. Low Canadian dollar drives down manufacturing costs for your domestic products which can drive down costs of domestic goods. This is a strong incentive for Canadiens to buy domestic products but also is a strong incentive for Americans and others to buy cheaper Canadian goods as well. This can increase demand sharply, thus increasing your domestic output. It can also help spur job creation as relatively low wages offer an incentive to keep jobs and manufacturing home rather than outsourcing. It seems to me that Canadiens have historically tried to keep their dollar a bit week against the American dollar for those reasons.

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I'd bet this will help your tourism industry tremendously as Americans have more incentive to come north for vacation rather than traveling to Europe where our money is relatively weak.

You're absolutely right, when our Canadian dollar is strong there's always several stories on how it's hurting the Canadian economy with exporting but for this hobby game it's definitely a kick in the junk. I'm lucky I did MOST of my big spending last year when it was "better" but the Tranny, bellhousing and clutch I just ordered it's definitely a bit of a squeeze

Not that this is gonna help you now but like terzmo said it's a cycle.......i to get most of my parts from the US........i put money aside when I can then when the dollar is strong I buy a couple thousand and keep it in a US. Account......then when the roller coaster ride starts I don't panic.........we also use it for family vacations............. Works well

That's a great approach... But I guess if I personally had the money to be putting into the U.S. account I'd just be buying the parts at that time! lol

 

[shag766]

guys i don't want to come across as a doom-sayer but it is what it is. within the next 3-5yrs there is going to be a major flock-up but this time world wide. about the only silver lining in all this is the biggest percentage of us on here live in the only 2 countries that will probably fair the best of it.
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-.02 cents

 

[alsant]

I'll be going again in feb for work , we get $80 a day per diem . Good for us

 

[44070dart]

I live right near the border and can tell the Canadian traffic is a lot less because of the dollar ..cycle is on our side now.. I remember going to Canada to get gas years ago to save 50 cents a gallon and pick up booze at the duty free store ..and good Canadian beer.. mmmmmmm Molsons Golden ..going to Niagara on the lake next week and will be saving a few bucks for sure ..eh :laughing7: