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October 13, 2009

Loonie close to Par

CANADA - The Canadian dollar (aka the Loonie) may reach parity with the US dollar by December, possibly sooner.

Lately the Canadian dollar has been soaring due to strong economic resilience compared to the United States. The Canadian dollar is currently worth 97.13 US cents.

The Canadian dollar was worth approx. 65 cents US in 2001 and has been experiencing a meteoric rise in value when oil prices started to rise and the US economy went sour during the middle of the decade.

A high dollar is expected to hurt Canadian exports to the USA, however growth in China and other Asian countries is expected to actually increase Canadian exports and our economy won't be effected.

See Also
The Canadian Dollar and Exports
The Canadian Petro Dollar

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