Canadian Dollar on Par With American Dollar

For the first time in 31 years the Canadian dollar briefly reached parity with the American dollar on Thursday September 20.

Over the past year the Canadian dollar has steadily been gaining strength on the international market compared to the American dollar.

Steve Butler a currency strategist at Scotia Capital in Toronto was recently quoted saying "we'll see Canada continue to strengthen."

This was further supported by Martin Lefebvre, a senior economist at Desjardins Securities, who said "Once parity is achieved, there is nothing stopping the loonie,".

This is fantastic news for Canadians purchasing or looking to purchase property abroad.

As the value of most properties are stated in American dollars, this means that for Canadians it is now cheaper to purchase the US Dollar. Not only does this mean that Canadians in essence will be paying less for property than 9 months ago. It also means that if the mortgage is in another country such as Costa Rica, the monthly payments are now also less.

This is really good news for the Canadians who are looking to invest in real estate here in Costa Rica. Your dollar is now worth more! Come on down and see the country and while here take a look at some of the fantastic properties we have listed.

Rod