Loonie, what have you done for me lately?
You've by now tracked the rise in the dollar (trading at 93.36 cents US this morning). As bullist analysts are calling for parity by year's end, consumers may be hurting for a shopping trip down south to take advantage of the mighty loonie.
But if you're looking to capitalize on home ground, The Financial Post's
Jacqueline Thorpe and Hollie Shaw have some bad news for you:
The 50% rise in the currency in the past five years has brought little joy at the till for the average consumer.
Some examples:
After converting the Canadian price into U.S. dollars, the gap between Canadian and U.S. prices still averaged 8%. Canadians pay 10% more for an Economist magazine and 20% more for a sample of five birthday cards.
