Friday, November 2, 2007

The American vs Canadian Dollar

I got a bit of a rude awakening yesterday with respect to the decreasing value of the American dollar compared to the Canadian dollar.

While it is encouraging to note that our trip to the US in February will probably cost less than anticipated, I discovered the opposite effect yesterday when I got a settlement document for an investment which I sold.

Apple stock has been riding high lately and I decided to sell 25 shares. The gross proceeds for the sale was $4645.25 in US$. The net proceeds were $4405.52 in CDN$.

What irks somewhat is that most of my shares in Apple were purchased when the dollar was skewed in the other direction! At least I have made a profit on the sale, but it still hurts to see the negative exchange.

Image Credit: jburwen's photostream

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