As a previous post states, I will be traveling quite a bit next month, so I figured I would check out conversion rates… so I headed over to XE.com and looked ans saw that the loonie (canadian dollar) is worth more than the US Dollar…holy shit!
When I first visited Canada like 5-6 years ago my dollar was worth 1.47 canadian. When I lived in Canada 2 years ago it started at around 1.21 and would have lows of about 1.17 when I finally moved back to the US. A few months ago I emptied my Canadian account when I visited and it was at around 1.05. Today it is at 99 cents. WTF?
The US dollar has been going to shit for a while it seems, and I do not think most people notice because they still can eat of the dollar menu at McDonalds/BurgerKing/Wendys, and actually never have to spend their money in a foreign market… I have traveled a bit and it seems like ever time I go abroad it gets more expensive to eat/drink/sleep. This will be my first trip to Asia so I have never really been watching those conversion rats, since we pay our foreign staff in USD.
Just the current observations:
USD vs CAN (canada) = us to shit
USD vs YEN (japan) =US was pretty strong, but dropped in july by about 10%
USD vs CNY (china)= steady decline in the last year. This will be a fun one to watch.
USD vs PHP (philippines) = steady decline in the last yea, means our staff has gotten a steady paycut month over month.
USD vs UAH (ukraine) = not sure
USD vs PKR (pakistan) = this one has actually been pretty steady
USD vs EUR (Euro) = 10-15% drop over the last year. WEAK BALLZ
So who of my readers have noticed their dollar is worth shit or is going to shit against any other country? What are you doing to help protect you from this?
Have any of you started to diversify your affiliate sites to hit foreign markets where you get paid in the euro or other currency?
Besides bitching about it, what can be done to secure a US business against an ongoing weakening dollar?