[Yikes]

On the 8th I wired money to Europe (Purchased Euros) for $1.27 per Euro, on the 11th $1.29 and today $1.44

That's $ 0.17 in 9 days (7 work days) or over 10% in a little over a week.

I fear that we're only at the begining.

 

[Tridacnid]

Wasn't it like that a couple months ago? Way back when the Canadian dollar passed us?

 

[JadeEast]

C$ passed then blew a head gasket.

 

[Uncle Erik]

The money supply seems to have been expanding faster than that recently. Though a good kick of inflation wouldn't be entirely bad - I wouldn't mind shuffling off the student loans with cheap dollars.

 

[marvin]

Quote:

Wasn't it like that a couple months ago? Way back when the Canadian dollar passed us?

Nope. The Fed just set the target discount rate to below 0.25% from 1%. They made the first move, so the dollar's going to be down against other currencies until they also drop their rates.

For reference, the Bank of Japan's rate is at 0.3%, the Bank of England's rate is at 2%, the Bank of Canada's rate is at 1.5%, and the European Central Bank's rate is at 2.5%. The Fed's been really aggressive with their monetary policy in response to this crisis and the rest of the world is expected to follow suit early next year.

 

[Trippytiger]

The Canadian dollar has also been rising quite a bit against the USD over the last few days! I'm pleased; I wasn't happy about the decline in my cross-border purchasing power. It's still much lower than it used to be, but it's getting better!

 

[kydsid]

Anyone else see the irony in the thread title and the op's name?

 

[fraseyboy]

It's been good for us. Now I can buy things online from USA cheaper

Still not cheap enough. But cheaper than it has been...

 

[xenithon]

About two months ago, my local currency (South African Rand) lost approx. 50% against the US$ in 10 days. Between one Monday and the following Wednesday it went from ~R8/$ to ~R12/$. It's now hovering around R10/$, still some 25% down from the level it was relatively stable it for almost a year.

 

[mark2410]

sterling is doing just as badly,actually worse, just now £1 will only get you $1.54 US and more shockingly will only get 1.07 euros

 

[demoNMaCHiN3]

Quote:

Originally Posted by kydsid /img/forum/go_quote.gif Anyone else see the irony in the thread title and the op's name?

that's not irony

 

[omegaman]

It's been worse/better ( Depending were you live ) in the past. Last time I was in the US ( May ) I was getting about $1.50-Euro.

The euro is very strong at the minute, The Euro to £ is about 1.07, about 4 months ago it was worth 1.45.

The currency market is crazy at the minute.

 

[ph0rk]

Spend em now, kids!

 

[jonathanjong]

Indeed, we can spend more online now. Cept I already bought the HD25s from phork.

 

[juniperlater]

Quote:

Originally Posted by demoNMaCHiN3 /img/forum/go_quote.gif that's not irony

Thanks for that. I didn't want to be Mr. Pedantic.