Friday, October 26, 2007

$1.00 (CDN) = $1.04 (US).

This morning, the Canadian dollar hit a thirty-three-year high in value against the U.S. dollar. As I wrote last month, I'm amazed and somewhat edified by the suddenly robust position of the loonie. I don't know enough about economics or monetary policy to articulate a well-informed opinion on whether the present phenomenon is a mere fluke or a sign that the Canadian dollar is on its way to becoming a strong currency like the euro or the British pound. I doubt that the loonie could ever become anything like the euro - I don't see how Canada could match the European Union economically - but I'm still fascinated by the current state of affairs. I hope that Canadian consumers take advantage and that American consumers take note. AMDG.


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