AmbergrisCaye.com Home Forums Belize Life News $ 1 US = $ 1 Canada: First time in 31 years

Wow! This means that a 1 week stay in a $250US per night room last March would have cost $2012CDN. Right now it would be $1625CDN, a $387CDN savings. That's a lot of extra Belikins!

The value of the Canadian dollar jumped by more than two full cents Friday, reaching its highest levels in history when compared with the U.S. greenback.

At one point the loonie reached 107.18 cents US, following word of strong employment rates in this country. According to Statistics Canada the healthy Canadian economy led to the creation of 63,000 new jobs in October, dropping the unemployment rate to 5.8 per cent. That's down 0.1 per cent from the September numbers.

It's the second month in a row that the jobless rate has been below six per cent, which represents a 33-year low. All of which was good enough to let the loonie hit a new record when the markets closed at the end of the work week: 107.04 cents US.

See the following article: "Strategies for dealing with weak dollar", and I quote:

As an alternative to vacationing at home: "Other spots to consider around the globe as alternatives to pricey Western Europe include Argentina, Chile, Ecuador, Peru, Indonesia, India, Laos, Thailand, the Bahamas, Quebec City, Belize, Costa Rica, Guatemala and Nicaragua."

http://www.mercurynews.com/travel/ci_7385541?nclick_check=1

Ah, but the dollar has made a historic run against Camel Cash.

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Cdn dollar closed today at $1.0852 . . yaaaaaaaaahhhhhhhhooooooooooooo!!!

Of course, it's got a long way to go before I get paid back for the days when I had to pay $1.60 Cdn for a $1 US, in order to chill in Belize.

I had a Canuck pay me today in full for classes to be given late next summer because he is certain the favorable rate will not stay this way long.

It is said that our dollar is currently over-valued by a minimum of 10% and that something's got to give. At this time, it is anticipated that the government will do something to help our dollar back down.

While it is all very well and good for me (and other Cdn travellers like me) to be excited about the dollar, the majority of our products are exported and payment is received in US dollars. At a time with record highs of employment, we now find ourselves facing companies and plants going out of business.

Gives with one hand and takes with another . . sigh.

Oh well, my cup is half-full.

Pushed past $1.10 this morning.

Holey Moley!

Word on the street is that the Euro is already beginning to take over as the reserve currency. Even supermodels are now demanding payment in Euros and refuse US dollars.

Fell back to just under $1.09. Oh well,

The farmers are hurting though. I try not to feel too much glee.