USD at 1.27 today. The sky is falling

Reef Supplies · #1 01-30-2015, 11:47 PM

Tell us, has the crazy spike in USD affected your spending? Today's rate is 1.27, this means that if you use your Canadian credit card to shop in the USA you will likely be paying over 1.30.

Save this link http://www.bankofcanada.ca/rates/exc...d-can-summary/

Ray

corpusse · #2 01-31-2015, 01:15 AM

Might cause you to get a little more business as BRS for example is quickly becoming unaffordable.

Really though I will be spending less simply because I have less (each and every day). Makes me wish for gas prices to be back at 1.20...

warriorcookie · #3 01-31-2015, 01:18 AM

The thing that really gets me is I always try to buy at Canadian retailers as much as possible. All the manufactures base our pricing on US dollars. This makes buying from China more and more enticing, especially with their low shipping rates...

Myka · #4 01-31-2015, 05:24 PM

Quote:

Originally Posted by warriorcookie

The thing that really gets me is I always try to buy at Canadian retailers as much as possible. All the manufactures base our pricing on US dollars. This makes buying from China more and more enticing, especially with their low shipping rates...

Pretty much. With the lower prices of fuel, you don't see shipping getting any cheaper. Although oddly, I noticed the price of diesel was still $1.20 (a few weeks ago).

Rice Reef · #5 01-31-2015, 05:36 PM

Quote:

Originally Posted by warriorcookie

The thing that really gets me is I always try to buy at Canadian retailers as much as possible. All the manufactures base our pricing on US dollars. This makes buying from China more and more enticing, especially with their low shipping rates...

The RMB follows the USD, not the Canadian dollar. Would not be surprise to see 1.35 soon

Sharkbait-huhaha · #6 01-31-2015, 06:28 PM

Went to TD downtown to exchange for US. I'm going to Hawaii next week. The exchange is at 1.31. Wtf!!!!

mohammadali · #7 01-31-2015, 07:07 PM

in canada were paying $0.50+ tax on every litter of gas we buy
if China release 10-20% Of their money out of china bank USD will be worthless

intarsiabox · #8 01-31-2015, 07:41 PM

Quote:

Originally Posted by mohammadali

in canada were paying $0.50+ tax on every litter of gas we buy

Some places way out east are but this is not true for most of Canada. In Alberta we pay 10 cents federal flat tax, 9 cents provincial gas tax and 5% GST. BC has a higher provincial/carbon tax of about 21 cents. So about 23 cents and 35 cents per liter respectively.

Aqua-Digital · #9 01-31-2015, 10:41 PM

Best advice I can give anyone that buys regularly in USD and pays by bank transfer. Buy a futures contract on USD.

Drop me a line if you want to know how to do it.

Fyi - only worth it if the currency is ascending and or you need to fix your rates for price lists.

Rice Reef · #10 02-01-2015, 02:00 AM

Quote:

Originally Posted by mohammadali

if China release 10-20% Of their money out of china bank USD will be worthless

China and the U.S. got each by each other's balls. One cannot do anything to upset the other. For China to flood the market with US dollars is just not smart and suicidal. China has real financial wealth and the U.S. has intellectual wealth.

Yes, there is still room to take advantage of the futures market