The Loonie on par with US dollar...is this good?
By whywiki
@whywiki (6066)
Canada
September 20, 2007 12:58pm CST
The Canadian dollar rose as high as $1.0001 cents US just before 11 a.m. on Thursday, something that hasn't happened since the Nov. 25, 1976.
The dollar ultimately fell back a few hundredths of a cent. It was trading at around 99.85 cents at 11:15 a.m.
The greenback sunk to a record low against the euro, a signal of the U.S. currency's weakness around the world.
I live in a tourist town and the surrounding areas rely on the forestry industry. The forestry industry doesn't like it one bit, and the tourists from the states are dwindling. This may hurt our area. On the other side of the coin I am thinking a trip to the states would be fun. I have had no desire to go there when our dollar was so low but now I think I may go. I guess this will help tourist spots south of our border.
What do you think is the Canadian Dollar being on par a good thing or bad?
1 person likes this
2 responses
@cher913 (25781)
• Canada
20 Sep 07
in some ways it is good becuase that will enourage alot of canadian shoppers down to the states. we go there about once a year because in the us you can get things you cannot get here.
but i spose that it may not be all that good for canadian business though...
