Ask:
This was our headline in the newspaper this morning. The loonie (our Canadian dollar) is now at 93 cents US. Not that long ago it was 63 cents. I can't tell if this is a good thing or a bad thing? Good for one country and bad for the other or neutral? Any economists out there? I'm confused.
Answer:
That is awesome! (for you all) Your dollar is 93 cents U.S. That is a GREAT Thing.
It's going to suck for us in August!! Our U.S $ used to go so much farther in Canada. I remember getting $1.25-$1.40 for every U.S $ converted into CDN.
Oh well. I am still happy for the Cdn dollar though. It's been a long time comin'!
Answer:
So that means it is cheaper for you to come here, than it is for us to go there? right?
I am from the UK and the rate used to be 1.57 or 1.59 dollars for one Pound. Now it is $1.98 for one pound!!! so everything costs double when I go there, but when they come here, everything is 50% off to them!