Canadian dollar is now above par!

When I was going to University in the USA, the exchange rate was AWFUL. It was so bad that it didn’t even really matter that I was on a full scholarship, because the price it cost for my plane tickets and spending money ended up costing way more per year than what tuition would have cost me if I had lived at home and gone to the local University.

But that was way back when it was between .60-.70 cents to the dollar. See that chart? I went to University from 2000-02. Right when the dollar was at its lowest.

Now, as I type this, the Canadian dollar is worth more than the American dollar. It’s almost unbelievable to me. My trips to Seattle have become more and more frequent this year than in past years, because it’s not as expensive anymore. When I look at the price of something down there, I know I’m basically paying at par, and I don’t have to tack on an extra 50% onto the total cost.

I’d like to think that perhaps if the Canadian dollar had been stronger when I was in University, I might not have come out with as much debt. But that’s not really an excuse. I knew what the exchange rate was when I was living down there.

Some people I know are starting to buy American cash. Lots of American cash. I’ve briefly thought about doing the same, but I’m wary. I’ve never heard of people doing this before, but maybe it’s because I’ve never known the Canadian dollar to be worth more than the American dollar. Do people do this on a regular basis? I was thinking of buying American money now, in anticipation of future trips to Seattle … because the Canadian dollar is eventually going to go back down, right?