Posted: Tue Dec 06, 2005 8:06 pm Post subject: What's with the Yen?
I have seen numerous posts about the rate of the yen compared to other dollars. Particularly the Canadian dollar now at approximately at $0.01 to the yen. People say this is not good. I'm just wondering, how is it worse? Because I would imagine you would get less for $0.077 CAD for one yen as you would a few years ago than the current rate now. How does it measure up? Any responses would be much appreciated. Thanks.
OK, let me explain this to you.
3 years ago it was 76 yen to $1 CDN.
Now it is 106 yen to $1 CDN.
Let's say you have 300,000 you want to send back to Canada.
3 years ago, you would get $3,947 for that.
Now you would get $2,830. So in other words, you lose $1,117.
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