Friday, September 21, 2007

Canadian Dollar Hits Par With USD

It's a day many have been waiting for, and most thought would never come. The Canadian dollar reached parity with the US dollar briefly yesterday afternoon, something which hasn't happened in over 30 years.

So will it go higher? At this point, I don't really see why not. Some financial people are predicting it to rise further, and with the current financial issues in the States and worldwide, I think it's quite possible.

The link below is to a CBC article that covers the topic, noting that much of the rise is due to a declining US dollar as opposed to a strong Canadian dollar.

This is not going to impact most people on a daily basis. However, we have a number of relatives and friends in the US, and it will make traveling much more affordable. Any cross-border trips will be cheaper as well.

Reference

U.S. dollar 'the real story' behind soaring loonie, Flaherty says
Currency converter

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1 Smart Remarks:

Anonymous Stephanie said...

If I'm not mistaken...it's back at parity right now (Friday pm).

Way to go Loonie!

2:43 PM  

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