It’s not a good week to be an exporter…

About 95% of Reinvented’s income comes from the U.S.A. So we get paid in U.S. dollars. And U.S. dollars keep getting less valuable. He’s a snapshot of the last week, for example:

U.S. Exchange Rate Graph

In the real world of cashing cheques (or rather checks, as they spell down there) this means that a $US10,000 check cashed last Wednesday would have garnered $CDN1630 in exchange while the same check cashed today would garner only $CDN1450, a difference of $180 in only a week. That’s a lot of lunches at the Formosa Tea House.

The unfortunate irony of all this is that it’s in my best interests for the Canadian dollar to be worth less, something which happens, I presume, only when Canada is a less attractive and stable place to live. If only Quebec would separate, I could cash in!

Comments

jsp's picture
jsp on November 26, 2005 - 04:26

I assume you mean US$1,000, and not $10,000. If you’re getting paid $10,000 and only getting C$1,450, you are in real trouble!

Peter Rukavina's picture
Peter Rukavina on November 26, 2005 - 15:26

The $1450 is the additional value, not the total value.

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