trade posts

10 World Currencies You Don't Want in Your Wallet

Filed under: Budgeting & Planning, Travel

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

Tags: American dollar, AmericanDollar, Canadian dollar, CanadianDollar, currency, money, trade, worthless currency, WorthlessCurrency

Canada's 2011 Economic Horoscope: What the Big 5 Banks Predict

by Alia McMullen

Filed under: Banks, Budgeting & Planning, Employment & Careers, Financial Crisis

Things have been on the mend for the Canadian economy and conditions are going to continue to improve this year, Canada's Big Five bank economists say. Even so, economic growth will likely creep along at a slower pace than in 2010, meaning there will be no quick return to the boom times that preceded the recession of 2008-2009.

"Exports remain challenged by a strong loonie, and domestic consumption growth will be moderating, either through rate hikes or other measures, as Ottawa attempts to slow the climb in household debt," says CIBC economist Krishen Rangasamy.

While there is no doubt that the Canadian economy will continue to grow in 2011, economists are divided on exactly how much. Some experts, such as at Scotiabank and CIBC, foresee a slow 2.2% pace of growth in 2011 largely due to the high Canadian dollar, weak exports and struggling foreign economies. Others, such as RBC, have a much stronger outlook.

Tags: 2.6, big 5, big five, Big5, BigFive, bmo, canada, canadian dollar, CanadianDollar, cibc, economic outlook, EconomicOutlook, economist, economy, employment, expire-images:2011-2-9, exports, growth, jobs, rbc, recession, scotiabank, td bank, TdBank, trade

Continue reading Canada's 2011 Economic Horoscope: What the Big 5 Banks Predict

Canadian Dollar Near Parity, But For How Long?

by Alia McMullen

Filed under: Banks, Investing

The Canadian dollar is once again dancing about near parity with the U.S. dollar making this holiday shopping season a great one for snagging some bargains whether you're in Canada or travelling across the border. But how long will it stay there?

The loonie has been historically strong all year, largely because of weakness in the U.S. dollar combined with rising commodity prices. This week it has been trading at about US99 cents. Abnormally low interest rates in the United States at a time of high unemployment and fear of a second dip into recession has made investors shun the greenback, causing most currencies around the world to rise. The loonie has been no exception. But the loonie is not expected to stay near parity forever and the experts are beginning to forecast when it will likely fall and by how much.