Thursday, June 28, 2007

Jibbed by our Strong Dollar

What a day for the great Canadian loonie?

On top of being just a few days away from celebrating its 20th birthday as a coin, the Canadian Dollar was up 0.95 of a cent today to close out at $0.9439 US. Not bad, eh?

But where are the savings for Canadians?

With the Canadian Dollar almost at par with the American greenback, shouldn't we see the benefits when we go out shopping?

Just go into your local bookstore or greeting card shop, and turn to the back cover; there's a Canadian price and a US price and guess what, in most case, you're talking about a difference of at least 25%. Somehow, I doubt the store will accept your $15.95 US for that $19.95 Cdn book you're buying.

Then have a look at the price difference when it comes to big ticket items like automobiles. There are many online discussions dedicated to the feasibility of saving thousands of dollars when purchasing a brand new vehicle in the States and bringing it across the border.

Someone's got to be pocketing the difference, and it's definitely not us, the consumers.

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