As a previous post states, I will be traveling quite a bit next month, so I figured I would check out conversion rates… so I headed over to XE.com and looked ans saw that the loonie (canadian dollar) is worth more than the US Dollar…holy shit!
When I first visited Canada like 5-6 years ago my dollar was worth 1.47 canadian. When I lived in Canada 2 years ago it started at around 1.21 and would have lows of about 1.17 when I finally moved back to the US. A few months ago I emptied my Canadian account when I visited and it was at around 1.05. Today it is at 99 cents. WTF?
The US dollar has been going to shit for a while it seems, and I do not think most people notice because they still can eat of the dollar menu at McDonalds/BurgerKing/Wendys, and actually never have to spend their money in a foreign market… I have traveled a bit and it seems like ever time I go abroad it gets more expensive to eat/drink/sleep. This will be my first trip to Asia so I have never really been watching those conversion rats, since we pay our foreign staff in USD.
Just the current observations:
USD vs CAN (canada) = us to shit
USD vs YEN (japan) =US was pretty strong, but dropped in july by about 10%
USD vs CNY (china)= steady decline in the last year. This will be a fun one to watch.
USD vs PHP (philippines) = steady decline in the last yea, means our staff has gotten a steady paycut month over month.
USD vs UAH (ukraine) = not sure
USD vs PKR (pakistan) = this one has actually been pretty steady
USD vs EUR (Euro) = 10-15% drop over the last year. WEAK BALLZ
So who of my readers have noticed their dollar is worth shit or is going to shit against any other country? What are you doing to help protect you from this?
Have any of you started to diversify your affiliate sites to hit foreign markets where you get paid in the euro or other currency?
Besides bitching about it, what can be done to secure a US business against an ongoing weakening dollar?
{ 11 comments… read them below or add one }
NZ. when i lived there, it was $2.1-$2.2 in the year 2000…Now a ridiculous $1.32. Used to be cheap there, now expensive…really sad.
I never knew you lived there! North or South island?
It sucks for both our economies… more and more canadians will realize that going shopping in the US is a win win situation like it was 20 years ago, which in turn will hurt the canadian economy… so get your fucking ass in gear americans…
Wellington (north) was home base, but i was all over…
Wellington (north) was home base, but i was all over…
The Chinese Yuan conversion is artificially set by the Chinese government so it is not an accurate currency to watch. Although, I am sure that it means something when they change it.
Part of the reason the dollar has been sliding is because the government is letting it to make domestically made products look better to consumers. I don’t know all of the economics behind it, but as the Chinese Yuan and other currencies move higher against the dollar it will be good for domestic good and help the trade deficit or something because exports look better. Yeah, it is still crazy.
LOL boys your us dallor is shit cleary because your president bush is pumping all your funds in to his so called war on terror. LOL buying all the steel and iron from other countrys watch when he is out your dallor will go back up he was the biggest mistake your county could ever of made makeing him president, he’s the real terriost
yes, what a dramatic change from a couple of years ago. It was the top news story the day the loonie passed the buck. Sucks when you’re living in Canada but being paid in $US for services. On the other hand, we’re heading stateside for a road trip soon, and it should be about 30% cheaper than the same trip we did last year. yay!
Buying on ebay is fun now being a Canadian and all
I am from England and having a weak Dollar is very Bad for anyone involved in Export Business in Europe as US ,made stuff is much cheaper to Buy.
I think it is great the U.S $ is falling against the Canadian $. The more the U.S $ the happier I am. Hoping it goes to $1.00USD = $0.50CAD by the end of the year.