By Marie
Dwyer-Bullock
With the Loonie
hitting parity with the U.S. dollar, Canadians have a window of opportunity
to take advantage of two great currency exchange rates:
-
$1.00 U.S. = $1.01
Canadian (as of 12/28/2010)
-
$12.25 Mexican
Pesos for $1.00 Canadian Dollar
So for
Canadians looking to move to Mexico,
there is no better time than right NOW. Not only will Canadians capitalize on
the exchange rate when buying a house in Mexico (since most house prices
are in U.S. dollars), but they will benefit greatly by a much lower cost of
living by getting $12.25 pesos to the Canadian dollar. (Read this Article on the effects of the exchange
rates and see an example on how you can save $70,000 on a house purchase.)
When we first
moved to Lake Chapala
from Canada
back in 1995, we were getting 3.5 Mexican pesos to each Canadian dollar and
about $0.64 against the U.S. dollar. So truly, there is no better time
financially, to make the move.
But will it last?…
In an article
published today in the Montreal Gazette, Loonie hits parity with U.S. dollar, Avery Shenfeld states:
Avery Shenfeld, chief economist with
CIBC World Markets, suggested in a recent report the Bank of Canada should do some currency intervention of
its own, selling loonies to help devalue the currency and improve Canada's export
prospects.
So there is no
time to waste. This window of opportunity may be short lived. Act now before
the Loonie gets devalued.
Loonie hits parity with U.S. dollar
By Eric Lam, Financial Post December 28, 2010
The loonie was trading at 100.10 US cents Tuesday morning.
Photograph by: National Post, National Post
The Canadian dollar hit parity against the U.S.
dollar Tuesday, but only just barely.
About an hour after markets opened, the loonie
hovered at US$1.001, after opening at US99.4¢.
The loonie has flirted with parity multiple times
in 2010, boosted by interest from foreign central banks looking to diversify
their holdings and a "death grip" on the U.S. dollar.
Mark Carney, governor of the Bank of Canada,
warned of the death grip as a result of many countries amassing greenbacks as a
way to manage their own currencies.
Avery Shenfeld, chief economist with CIBC World
Markets, suggested in a recent report the Bank of Canada should do some
currency intervention of its own, selling loonies to help devalue the currency
and improve Canada's
export prospects.
The U.S. dollar has been on the decline so far
Tuesday, hurt by an S&P/Case-Shiller index study showing home prices
declined almost twice the expected amount in October.
The S&P/Case-Shiller composite index of 20
metropolitan areas dropped 1% in October, ahead of the 0.6% drop forecasted by
economists polled by Reuters.
Canadian markets remain closed for the holidays. U.S. markets
are open, but largely flat.
© Copyright (c) The Montreal Gazette
Triple Promo Offer
If you have any
interest in checking out Mexico,
we invite you to join us on an 8-Day Focus on Mexico program, where you will learn everything (and more)
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I just got a
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Lake Chapala, rated by National Geographic as the second best
climate in the world (first place Heaven), is still one of the best kept
secrets. We enjoy a much lower cost of living, have an established English
speaking infrastructure with live theatre and lots of wonderful entertainment
and night life and fabulous restaurants. We are welcomed with open arms by the
Mexican community who are said to be the happiest people in the world, and we
learn many lessons about their value system from them. We live in a safe
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Thousands of Canadians and Americans and Europeans can’t all be wrong. Join us
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For more
information, contact Marie Dwyer-Bullock:
Email: marie@focusonmexico.com
Phone: (Alberta
Vonage # 403-770-1878) (Ontario Vonage #
416-619-9310)
I will be more
than happy to answer all your questions!