06/17/2015 05:15 EDT | Updated 06/17/2015 05:59 EDT

Vancouver Now Less Expensive, Still Among Most Livable Cities

Vancouver dropped on the list of most expensive cities, thanks to the falling loonie and surging U.S. dollar.

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According to two new rankings, Vancouver is still among the world's most livable cities and is now much less expensive.

A global survey by Mercer placed Vancouver as the 119th most expensive city in the world. It's a big drop from as recently as 2012 when the city came in 63rd spot.

The decline is linked to a falling loonie and the surging U.S. dollar, said the human consultancy firm.

The cost-of-living comparison for business travellers still has Vancouver as the most expensive city in Canada, ahead of Toronto. Luanda, Angola, ranked as the world's priciest city for the third year in a row.

Meanwhile, Vancouver placed seventh in the top 10 most livable cities in the world listed by Monocle, a global affairs magazine.

That ranking is topped by Tokyo.

The magazine cited 22 factors including cycling commutes, cost of living, and the price of a cup of coffee.

With files from Daniel Tencer/HuffPost Canada

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