An extremely small sign at the TTC (Toronto Transit Commission) collector booth in downtown Toronto startled me yesterday when I saw the sign that there will now be a 10% surcharge if you are paying in US Funds for your transit ride.
Seems like the TTC jumped the gun big-time, since the US Currency is just a cent or two below Canadian and fluctuates back and forth. The current USD to Canadian rate stands at (1 USD = 0.975585 CAD) and is expected to fall even more.
TTC charges 10% surcharge to US visitors on transit
Americans have enjoyed a 20% premium on their currency for many years but that has changed. Others are reporting it may continue to fall on the world market up to and beyond the Presidential Election in November 2012.
Danny Nicholson a long time spokesperson for the TTC said, “I am not aware of the new signs but would get back to you.”
Brad Ross of TTC Corporate Affairs Communications said “I’m not aware of those signs either.”
No-one from TTC got back to me as to why this new procedure is in effect and how it came about, prior to press time.
They were spotted at the Queen/Yonge subway on Monday.
Other retailers have not made the jump, yet, but with the holiday season approaching, anything is possible.
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