March 30, 2005 -- International Bridge customers who pay with Canadian currency will see the toll rate reduced again, thanks to the continued strength of the Canadian dollar. The changes, effective April 1, are the result of the review done by bridge officials twice a year.
"With the required, semi-annual currency equity review, the rate keeps getting better for our customers who pay with Canadian currency," said Phil Becker, International Bridge Administration (IBA) general manager. "We expect this to lead to an increase in Canadian International Quick (I.Q.) Cards sold, since it now will cost $1.40 (CDN) less per 20-trip purchase."
The intergovernmental agreement under which the bridge operates mandates that the currency exchange rate is equalized each April and October, if the currency difference is substantial enough. The IBA is required to keep toll equity to within five cents in terms of the currency exchange rates.
U.S. currency is the benchmark for any changes. The average exchange rate for the previous six months is what is used to make the necessary modifications.
"This adjustment is needed because the value of the Canadian dollar continued to increase during the previous six months," Becker said.
Starting April 1, the passenger vehicle rate will be altered to $1.85 from $2.00. IQ Card deposits will drop to $19.60 from $21.00. All other Canadian currency toll rates will be adjusted as well. For a complete list of International Bridge tolls, log onto the IBA Web site at www.michigan.gov/iba.
Sault Ste. Marie International Bridge Bridging our past - connecting our future
|
Printer Friendly
Text Version
Twitter
Facebook
Yahoo
Google
Digg
Newsvine
StumbleUpon
Bookmark
Email Page