Loonie at new high

Can you believe the Canadian dollar closed at 86.01 U.S. cents? For anyone who has done any kind of traveling to Canada, the favorable exchange rate draws American tourists. I remember when the mark was in the 70s. Earlier this year in my travels, the rate has been in the lower 80s.

The 86.01 mark was at its highest level in more than 13 years. The U.S. dollar has been getting killed everywhere, but this recent growth has more to do with the positive growth of the Canadian dollar.

Many Americans, especially on border trips, just use American money instead of taking time to get it exchanged. Major cities will usually easily accept U.S. cash, but keep in mind, you won't get back as much change that way. But at 86 cents, for a short trip, you might as well not exchange money.