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That is something I've never understood...how can the Canadian dollar be worth 2% more when prices are nearly always much higher in Canada?
by moheeb 13y ago
That is something I've never understood...how can the Canadian dollar be worth 2% more when prices are nearly always much higher in Canada?
- qu4z-2 13y agoBecause exchange rates and cost of living are two separate things. The Canadian dollar is worth 2% more, meaning for one Canadian dollar you get USD$1.02. On the other hand, stuff in Canada is more expensive no matter whether you're paying in CAD or USD. Exchange rate is to do with currencies, independent of location; cost-of-living is to do with location [pretty much] independent of currency. To see a much more drastic difference in cost of living, try going somewhere like Siam^WThailand. Maybe someone else can fill in the details on the factors that influence exchange rate and cost of living.