At the moment, we Canadians are hovering around par with our U.S. counterparts. In fact, our dollar has even climbed a few times today to be worth more than the U.S. greenback. Good news for shoppers planning on heading over the border to look for deals. Your first deal will be that your dollar is going to go farther.
Analysts are pointing out trends in the Canadian economy which show our country strengthening while problems in the U.S. housing market are apparently weakening our neighbour to the south. Of course, things change quickly in the markets so who can predict where any of us will be tomorrow, never mind next week.
Stand by for further developments but don’t hesitate to get in your car and drive over the border. At the moment, things are looking pretty solid for really getting a buck’s worth for the Canadian dollar spent in the U.S.
to read more from William Belle
Bank of Canada: Currency Converter