Loonie hits 90 U.S. cents

The great perk of traveling to Canada has been "great exchange rate." That is pretty much gone.

The Canadian dollar closed Tuesday at 90.79 U.S. cents, a 28-year high.

The news is great for Canadians to spend money in the U.S. From their perspective, this truly is a 28-year wait. For U.S. residents spending money in Canada, the news is awful.

I will be testing this later this month when I dip my toes into Windsor on a Detroit/Windsor trip. Just about any place in Windsor will take U.S. cash (but give you Canadian change). Now, it may not which currency you take. Don't try spending the Canadian money in Detroit; those merchants will freak!

I still like spending Canadian money, even when I'm in Windsor -- makes me seem "less American" and less like a tourist. But the monetary advantage of being in Canada will be minimal.