US$1.10 for a Loonie
Yikes! When is the Canadian dollar going to stop rising? It hit US$1.10 in trading today.
For the first time (in my 38 years) I deposited a US cheque in my Canadian bank account only to realize that it was worth less in Canadian dollars. I never thought the Canadian dollar would be this strong. I’m used to treating US money like it was gold and now our Loonie is worth more than an American dollar?
I don’t know why, but I feel nervous about our dollar being so strong. This ride can’t last forever and I can’t help but wonder if some global economic catastrophe is just around the corner.
Stumble It!Posted in News at 1:34 PM
Comments
Actually, the position our dollar is in is due to a global economic catastrophe…for the USA. They’re in some dire financial straits as a country right now. Our dollar has not really gone up very much. Our current rate of exchange is due to a very weak US dollar globally. The Mark, Pound and Yen are all way up against the Greenback as well.
Posted by: Paul on November 7, 2007 5:52 PM
The Globe and Mail reported today that our loonie has risen 25 per cent against the greenback this year. Compared to the Euro which is up 11% against the US dollar in 2007, I think that is a lot!. Even the government is ‘anxious’ about the rise in the loonie. Okay, now I’m sounding like an alarmist.
Time to shop online in the US I suppose.
Posted by: jay 
on November 8, 2007 11:48 PM
