BS: Cd $ reaches parity with US $

Subject: RE: BS: Cd $ reaches parity with US $
From: Ebbie
Date: 20 Sep 07 - 01:06 PM

If that isn't enough to alarm everybody I don't know what it would take.

Subject: BS: Cd $ reaches parity with US $
From: Little Hawk
Date: 20 Sep 07 - 12:59 PM

Well, the US $ has sunk to a 30 year low against most other currencies, and the Canadian dollar is now at parity with it for the first time since 1976.

A Canadian dollar was worth 62 cents American in 2002. It's now worth just a hair over $1.00 American, and is expected to go as high as maybe $1.05 American in the near future.

This is great if you're a Canadian buying from the USA or shopping across the border.

It's a disaster if you're a Canadian exporter, getting paid in US dollars for your Canadian-made goods. The Canadian exporting sector has reportedly lost about 400,000 jobs so far due to this falling American dollar.