When the bottom falls out of your home currency...

[Sopwith]

If where you live has a cloudy future and unstable past...

 

Just looking at the exchange rates over the past two years for the USD, CAD, GBP, EUR, AUD. The major change is actually not related to instability or volatility with the CAD, GBP, EUR or the AUD. These have changed relatively little against each other over the past two years. The biggest change is the rising value of the USD against almost everything else, as the unstable and weak US economy has finally shown signs of recovery.

 

But all of that is moot. It is what it is. The interesting point is that as the USD gains strength against international currencies, Americans will gain nothing in terms of cruise fares. I'm just curious to see whether we discriminating Canadians form a big enough piece of the cruise lines' market to cause them to sweeten the pot a bit more if they want to retain their market share in the Great White North. I'm thinking that the ones who price aggressively to keep us will win out in the end. But then, if the lines can fill the boats with Americans, perhaps not. Maybe the strategy is to drop the price in USD just enough to fill the boats with Americans and to heck with Canadians. Interesting dilemma for the gurus at head office.

[RJB]

Just looking at the exchange rates over the past two years for the USD, CAD, GBP, EUR, AUD. The major change is actually not related to instability or volatility with the CAD, GBP, EUR or the AUD. These have changed relatively little against each other over the past two years. The biggest change is the rising value of the USD against almost everything else, as the unstable and weak US economy has finally shown signs of recovery.

 

But all of that is moot. It is what it is. The interesting point is that as the USD gains strength against international currencies, Americans will gain nothing in terms of cruise fares. I'm just curious to see whether we discriminating Canadians form a big enough piece of the cruise lines' market to cause them to sweeten the pot a bit more if they want to retain their market share in the Great White North. I'm thinking that the ones who price aggressively to keep us will win out in the end. But then, if the lines can fill the boats with Americans, perhaps not. Maybe the strategy is to drop the price in USD just enough to fill the boats with Americans and to heck with Canadians. Interesting dilemma for the gurus at head office.

Well if they drop the price for the Canadians than everyone else will have to pay more. They will need to collect the same revenue no matter where it comes from. Rates go up and down and it's hard to adjust for these things all the time. Leave things as they are and in time all will be well.

[LHT28]

Well if they drop the price for the Canadians than everyone else will have to pay more.

They have not changed the prices they have given a small discount

Just like when they offer Florida residents special deals ;)

[RJB]

They have not changed the prices they have given a small discount

Just like when they offer Florida residents special deals ;)

Sounds from most of these posts that a small discount would mean very little in reducing the cruise fare to make up for the drop in value in the Canadian dollar. Unless your thinking is that a 25 or 30% discount is small. Still hoping to see many Canadians on our further cruises as they are good people and would hate to loose them. :):):)

[LHT28]

Sounds from most of these posts that a small discount would mean very little in reducing the cruise fare to make up for the drop in value in the Canadian dollar. Unless your thinking is that a 25 or 30% discount is small. Still hoping to see many Canadians on our further cruises as they are good people and would hate to loose them. :):):)

 

The promo was 20% off the cruise

it did help & I am grateful to Oceania for it

 

When I booked my cruise I did not see the promo I was willing to accept the prices as advertised even with the exchange rates

 

but my wonderful TA got the pricing which included the Canadian promo so it was an added surprise for me & we booked a second cruise

so a win win for Oceania & us ;)

[RJB]

The promo was 20% off the cruise

it did help & I am grateful to Oceania for it

 

When I booked my cruise I did not see the promo I was willing to accept the prices as advertised even with the exchange rates

 

but my wonderful TA got the pricing which included the Canadian promo so it was an added surprise for me & we booked a second cruise

so a win win for Oceania & us ;)

Have a wonderful trip. Hope it is on the same cruise as us. One in Feb. and one in July. :):):)

[Hambagahle]

Even though I often disagree with Hawaii Dan, this time his advice is spot on. On our last several trips, I have been amazed at both: (1) the number of Americans that travel regularly to Europe that have opened bank accounts in European banks, i.e. Deutsches Bank or other. This has allowed them to capitalize on conversion opportunities when they avail themselves and; (2) the number of Canadians that have accounts in both the US and in European banks.

 

One of my very close friends, that lives in Austria about 4-5 months a year, deposited in his European account and converted about $20K back earlier in the year when the $ and Euro were nearly at par. Every Euro he spends over there now is still at that conversion rate, not the current rate. A lot better return than he was getting from the bank or the stock market.

 

A huge additional plus for my American friends that have done this, is the ability to get a true chip and PIN card from their European bank for use while on vacation there. I have been told, and one of my plans for 2016 is exploring and following up, that some of the European Banks; with offices here in the US, allow one to open accounts in Euros, as opposed to dollars; and will issue you c&P cards.

 

If I were Canadian, with all the wild swings in your currency, I would definitely be exploring opening bank accounts in other countries to hedge your savings.

 

All sounds lovely but just don't come to Switzerland and try to open an account here as an American. Swiss banks have been "firing" their US clients and won't open new accounts for US nationals - because of FATCA amongst other things.

 

I have the greatest sympathy for our Canadian friends. For the past 15 years or so I have been dealing here in CH with a USD that was dropping and dropping. Finally it has started to turn around. But is still a long way from the 1fr20 to the USD that it was 20 years back... You just put your head down and get on with your life. Currency fluctuations are not something you can control - but you can budget for a "worst case" scenario and be happy when it is less than that.

 

happy New Year everyone!:)

[LHT28]

Have a wonderful trip. Hope it is on the same cruise as us. One in Feb. and one in July. :):):)

Sorry on Regatta in April B2B

Enjoy your cruises also

[LHT28]

You just put your head down and get on with your life. Currency fluctuations are not something you can control - but you can budget for a "worst case" scenario and be happy when it is less than that.

 

happy New Year everyone!:)

Well said Gerry

 

Happy New Year & happy sailing

[canuck.qc]

All sounds lovely but just don't come to Switzerland and try to open an account here as an American. Swiss banks have been "firing" their US clients and won't open new accounts for US nationals - because of FATCA amongst other things.

 

I have the greatest sympathy for our Canadian friends. For the past 15 years or so I have been dealing here in CH with a USD that was dropping and dropping. Finally it has started to turn around. But is still a long way from the 1fr20 to the USD that it was 20 years back... You just put your head down and get on with your life. Currency fluctuations are not something you can control - but you can budget for a "worst case" scenario and be happy when it is less than that.

 

happy New Year everyone!:)

+1 Gerry

I am more than happy to take land vacations through our beautiful provinces till the dollar gets back on track:) Happy Holidays

[PSULion]

Will O take Bitcoin? ;)

[orchestrapal]

+1 Gerry

I am more than happy to take land vacations through our beautiful provinces till the dollar gets back on track:) Happy Holidays

 

Good theatre festivals in NOL and Stratford. See you this summer.

Edited December 29, 2015 by orchestrapal

[RJB]

Will O take Bitcoin? ;)

 

Either that or gold coin