We started silverorange just over eight years ago. Back then a cheque (or "check" as our neighbours call it....er.. neighbors) from a client south of our border was worth over one and half of its value in Canadian funds. It was like winning a small lottery every time you made a deposit.
Today the tables have officially turned: We lost money making a US deposit. While the exchange rates are still not quite at par the greedy banks take a little off the top when they buy currencies off of you. With this small bank fee we received less Canadian dollars than the US dollars we deposited.
I'm not an economist but this can't be good for the US. Their websites are now going to cost more to build.
Comments
Steven Garrity - September 18, 2007 4:05 pm
I so called this in 2004. Let's call Europe.
Konstantinos - September 18, 2007 10:28 pm
Whenever you guys talk about this topic, it seems your spelling powers go bad. To honor the trend initiated by Minh Nguyễn, I believe there's an extra apostrophe in the final sentence ("Their website's are now going to cost more to build.").
OK, back to topic now.
Marc Musial - September 18, 2007 11:50 pm
I caught that on the news tonight, they are expecting the CDN dollar to be on par/pass the US dollar by weeks end. At first I was like "this is great!", but I didn't think of having to raise prices for web development for US projects until I read your post. Good Point.
Dan James - September 19, 2007 8:28 am
Konstantinos - Misplaced apostrophe is now removed. Thanks!
Isaac Grant - September 19, 2007 9:16 am
Konstantinos, you assume we have spelling powers in the first place?