Today it is CityNews:
“I bought a birthday card for my nephew that was $5 U.S. And it was $8 Canadian, and I said to the clerk, ‘That’s ridiculous. You know, that’s a 60% exchange rate,’ ” complains a man who knows a thing or two about loonies and toonies, BMO economist Doug Porter.
Despite an exchange rate of mere pennies, Porter says at the retail level we’re still miles apart.
“There is roughly a 10% price gap between Canada and the U.S. Even when you use a very conservative exchange rate like 88 cents, which is what the average has been over the last year and a half,” he said
Welcome to last week, wait two weeks ago!
