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Originally posted by loagun
Oh my... this is not new at all. You don't have to go all the way to Amsterdam to get your US$ turned away... I remember in 2007 when the US dollar had slipped so far the two bars I worked in (and many, many other places of business) stopped accepting US currency as cash and that was in Toronto, Ontario Canada.
It was like that was for a good half a year until the US$ climbed back up a little more then the Canadian dollar, however it has never risen much more then that since. The Canadian dollar has once again overtaken the US$, and as soon as it hits anything more then a 10 cents rise again businesses will stop accepting US money once again. Reason being because the cost of converting US$ back into Canadian dollars isn't worth it.
They are projecting a 25 cent increase in the Canadian dollar over the USD by the end of the year...
Originally posted by snowspirit
Also, it used to be, when our dollar was too strong, our export market suffered. I'm not sure about our exports right now, but our economy is still very strong. It might depend on the province, but Saskatchewan has never been better. I guess it helps that are getting strong trade with other countries besides the states.
I think that if our dollar here in Canada stays above the U.S. dollar, you will see that it does indeed hurt us in exports. Although it's good for the average Canadian, overall in an economic standpoint, it's not the best thing that could happen. at least that is what I am told on the news, but how much of that is true is anyone's guess..