Jul 24, 2017
By Christine Ross
It’s good news for anyone planning a U-S vacation anytime soon. The Canadian dollar hit the 80-cent U-S mark Monday morning as the American dollar weakened and investors took in a positive report on wholesale trade. At the close of Monday’s trading day, the loonie was up 0.23 to 79.92 cents U-S. The dollar has been climbing since the middle of June, when speculation grew that the Bank of Canada was going to raise its key benchmark interest rate. The central bank hiked its key interest rate on July 12th, its first rate increase since 2010. If you are planning a winter get-away, buy travel insurance now. Jason Nagy, manager at Can-Am Insurance, told Zoomer Radio news, snowbirds have two months to get the best deal because on September 30, insurers review policy costs and decide on increases. If you act now, the old price applies.