Do you have plans to travel this holiday season?
As the Canadian dollar loses ground against major global currencies, some travellers are beginning to feel the pressure. A weaker dollar translates to less purchasing power abroad, which can make trips to popular destinations like the United States, Europe, or even tropical getaways more expensive than in previous years.
Whether you’re dreaming of an international escape or a cozy Canadian getaway, I’ll explain how current exchange rates can impact your travel plans. I’ll also share tips to help you plan smarter and protect your wallet.
What does a weaker dollar mean for Canadians?
The Bank of Montreal’s latest Real Financial Progress Index revealed that 79 per cent of Canadians are planning to cut their holiday budgets this year. This includes spending on gifts, dinner parties, and even travel for vacation or to see family.
In early November, the loonie fell to a four-year low, and some experts believe …