currency posts

We're all fixated on the value of the loonie, especially in relation to that other dollar to the American greenback.

As Canadians, we're used to converting currencies - whether it's to U.S. dollars to save money on online shopping or cross-border trips, or to the euro when so many of us are visiting friends and families in Europe.

But since we're so good at keeping an eye on the value of our loonie (and our neighbour's currency), when we start exploring further in the world, we need to keep an eye on other currencies.

Some of these currencies won't be surprising considering the latest world political news, and some will be a surprise since they're not headline-making destinations. Just make sure to check the conversion before buying a large amount of local dinero in your wallet:

SLIDESHOW: WORLD'S WORST CURRENCIES

Tickets, reservations, luggage, charging up batteries - getting ready to head out on the road?

With the upcoming long weekend (and more travelling in your future, fingers crossed), it's good to make a checklist of what to do (and have with you) before you go away.

Everyone thinks about the house and what they need to take with them, but what about cash or credit? Should it be either/or?

Whether it's a short time or a long time, make it a good time by taking some time to know how to deal with the money.

Inflation isn't a nice word to consumers.

It means an increase in the prices of goods and services and also means that consumers have less spending power.

The recent release of a report by Statistics Canada for the month of May shows that inflation fell to its lowest point in two years, offering Canadians a reason to smile. Or does it?

With the inflation rate at 1.2 per cent, its good news for those with floating rate mortgages and for lower prices on many products.

Gas prices dropped by 2.3 per cent, fresh vegetables are 7.1 per cent cheaper and electronic prices are 13 per cent less than a year ago. We have more money to spend and hopefully more money to save.

So why is this considered bad news?

As Canadians we're known for our polite disposition and passion for hockey, but now we have more bragging rights: our banks are the world's safest.

According to Moody's, the New York-based ratings agency, all of Canada's major banks have been given a double-A2 rating, making them the safe bets for global investors and rating higher than banks in the United States, Europe or Asia.

With the strength of our currency and the profits made by the Canadian banks in the first quarter of 2012, Canada's looking like a superpower.

So what's making us so attractive in the financial world?

As Canadians, we know why we love our country.

We're proud of our stereotype on the world stage - as polite peacekeepers who are proudly multicultural and we're used to seeing the country and major cities lauded as places worthy of attention from the rest of the world.

In 2011, Toronto was one of three North American cities to make the list of the world's most livable cities. And now the Bank of Canada has once again kept its key interest rate unchanged at 1 per cent, and stated that the Canadian economy would perform better in the first quarter of 2012 than expected.

So if we're livable and have a viable, growing economy, why shouldn't Canada be called an economic superpower?

Last week's volatile rollercoaster ride in the world stock markets confused many and had every consultant, trader, broker and advisor checking the numbers minute by minute as financial power players reacted to the US economic downgrade.

With all the reports, analysis and debates over what was happening to currencies, stocks and national economies, a bit of levity is welcome in the face of scary predictions and overwhelming numbers.

So although the economists rely on statistics and history to make their calls, there are a few other ways the economy's path is revealed - through some favourite consumer product purchases.

First up as an economic indicator: MUI or the Men's Underwear Index.

This guest post is provided by Bank Guru from BankNerd.ca, a Canadian website dedicated to helping Canadian consumers learn more about the banking world. Follow them on Twitter, Facebook or join their newsletter.

A few weeks ago the Bank of Canada unveiled their new Canadian polymer bank note, which is expected to be in full circulation, in all denominations by the end of 2013.

These new bank notes are in fact plastic bank notes, otherwise known as polymer bank notes.

Iceland is one of the hottest travel destinations about and it's not just because it has a smoking volcano -- it's because it's finally affordable to travel there.

Right now is the cheapest it has been in years for Canadians to travel to the volcanic island and as I discovered on a trip there this month, you can expect to pay about the same as what you would pay here in Canada, and in some cases less. One loonie currently buys about 120 Icelandic kronas compared to 57 krona three years ago and 50 krona five years ago.

Reeled in by one of Iceland Air's low airfare ads (return flights for June start from under $580 incl. tax from Halifax or $677 incl. tax from Toronto) which picture various people bathing in the waters of the famous Blue Lagoon Spa - a geothermal lake set among volcanic rocks - three friends and I decided to take off on a two week budget trip. The entire trip -- including airfares, taxes, accommodation, food, activities and shared car hire -- cost us $1,200 each, or $86 a day. Such a price would have been inconceivably three years ago when a beer alone would have set you back almost $20 and a dorm bed in a hostel would go for as much as $60 a night.