Last Updated: Thursday, September 20, 2007 | 12:39 PM ET CBC News The Canadian dollar reached parity with the U.S. greenback on Thursday for the first time since November 1976. The loonie briefly reached $1.0003 US on foreign exchange markets shortly before 11 a.m. ET, the Bank of Canada said. The loonie's stint at parity was brief, however, as it later slipped back to just under $1 US. Some financial data providers reported that the loonie had reached parity shortly after 9 a.m. ET. But the Bank of Canada said the data its trading room was looking at did not show parity at that time. "Currency trading is an over-the-counter market," a Bank of Canada spokesperson told CBCNews.ca. "It's not like the TSX." So there can be small discrepancies depending on the trades the data source monitors. At any rate, all data sources are now showing that the Canadian dollar did reach parity. U.S. dollar falters The dollar's latest rise comes as the U.S. dollar falters against major currencies and commodity prices continue to gain strength. Source: http://www.cbc.ca/money/story/2007/09/20/canadiandollar.html
You mean I can no longer drive to Canada to get a good deal on my perfume, liqueur, and prescription meds? Crap!
It was bound to happen with the latest interest rate decrease putting a lot of pressure on the dollar. The Loonie will have the dollar thoroughly toppled within a few weeks. I expect it will be worth around $1.03 within a month.
*sigh*..the US dollar has done nothing but go down for those of us here in the USA, we're screwed! lol