It was slightly more valued (up to the record of US$1.07 for every CN$1 last November, then it fell and stayed between CN$1.00-$1.03 for every US$1 for the past eight months now. It's very stable now.
I always watch the exchange rate because my parents put money in my US bank account and I use a Canadian ATM to get some fat loonies at the best exchange rate.
You could get an hostel in Canada, which is about $20-$25 per night. I know a very good one right in the old city of Montreal that goes for $20 per night. It's an awesome hostel and it's in a 18th century stone house built during the French days plus a more "modern" wing behind it that has the beds...but it was a 19th century barnhouse converted for hosteling for youths (actually, there is no age limit there...so people like Gary and Benji can stay there as well). It's right in the old city! Old buildings are just steps away around you and you can see the river in 10 minutes by walking. And downtown would only take 10 minutes by foot and metro.
As I said, if you leave it to the expert (ME!), I can help every GA to keep your spending to the minimum. You can easily live on CN$50 per day which includes one night hostel, a couple good beers at a pub or a club, and a couple lunches. Dinner is expensive however...you would have to spend $25 per person (drinks and the meal). Of course, you can have a good Vietnamese rice noodle dinner for just $6 in Chinatown. I am not counting shopping money. You'd have to pay like $40 plus 13% taxes for a pair of jeans at American Eagle or $20-$25 for a t-shirt. If you stay there for three days, I can get you a $19 tourist card that will give you a unlimited access to the metro and busses for three days (the tickets cost $2.75 a piece...so it's a good deal!)
The downside to this is that some of you may have to fly to Montreal, which means you would have to get a passport (if you don't have one). It cost $105 to get a passport. :s
I won't mind going to the USA for a meeting, but I just want to make Canada look easy to reach to. It's not like Europe you know.