Canadian dollar regains parity with U.S. greenback
Last Updated: Thursday, September 20, 2007 | 8:55 AM ET
CBC News
The Canadian dollar reached parity with the U.S. greenback on Thursday for the first time since November 1976.

The loonie briefly reached $1.0003 US on foreign exchange markets, the Bank of Canada confirmed. The loonie's stint at parity was brief, however, as it slipped back to trade at 99.88 cents US.

The dollar's latest rise comes as the U.S. dollar falters against major currencies and commodity prices continue to gain strength.

The U.S. dollar hit a new record low against the euro earlier Thursday, two days after the Federal Reserve made a surprise cut of one-half of a percentage point to a key U.S. interest rate. Economists had been expecting a quarter-point rate cut.

Also giving energy to the loonie's flight has been the rising price of oil.

In global commodity trading, the price of a barrel of oil was at $82.10 US, up 17 cents from Wednesday.

With the loonie quickly approaching parity with the U.S. buck, questions are arising about where the Canadian dollar goes once it passes $1 US.

"We've come a long way. It wasn't that long ago that the Canadian dollar was trading around 60 cents and people were thinking the end was near," said Steve Butler, director of foreign exchange at Scotia Capital.

"And now, seeing it close to parity with this much strength and this much momentum, I don't think parity is going to be the number that stops it," he told CBC News.

Butler said he wouldn't be surprised if the loonie passes parity shortly and then possibly retreats below par before resuming its rise.

"I still think the fundamentals are so strong right now that we will see Canada continue to climb," he added.

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Originally posted by Ravemontreal Once I took a piss in front of everybody at Stereo. Put the garbage under the mixer, and did it right there while people were dancing and screaming. people thought I was playing with the mixer but I was playing with my zizi.

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Originally posted by Enjoy a classic from the aria days: me: are you on TA? girl: uhhhh... im on speed

presently 99.82

It's been hovering between 99.80 and 99.95 all day.

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Originally posted by RickyM you're just a shit version of Moral Hazard. At least he knows what he's talking about.

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Originally posted by pkcRAISTLIN lol, i love it when moral feels the need to lay the smack down

i saw a commercial the other night advertising a cdn dollar at par sale....haha someone should have told that guitar store in ny state that the cdn dollar is already at par. advertising money down the drain.

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quote:

Originally posted by Moral Hazard presently 99.82 It's been hovering between 99.80 and 99.95 all day.

Where are you checking the rate change? I looked on the bank for canada site, but it only shows the noon rate.

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Originally posted by Orko Where are you checking the rate change? I looked on the bank for canada site, but it only shows the noon rate.

yahoo

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Originally posted by RickyM you're just a shit version of Moral Hazard. At least he knows what he's talking about.

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Originally posted by pkcRAISTLIN lol, i love it when moral feels the need to lay the smack down

I am waiting to see which pro athlete first demands a contract in canadian dollars.

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Scott has been introduced to the rave scene, and Ecstasy, by Craig. The two of them go out on the weekends, with some of Craigs friends, and stay up all night, dancing in a drug-fueled trance.

Last edited by Moral Hazard on Apr-26-2011 at 07:48

Terrell Owens

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quote:

Originally posted by Ravemontreal Once I took a piss in front of everybody at Stereo. Put the garbage under the mixer, and did it right there while people were dancing and screaming. people thought I was playing with the mixer but I was playing with my zizi.

quote:

Originally posted by Enjoy a classic from the aria days: me: are you on TA? girl: uhhhh... im on speed

You're on par with the greenback!!!

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www.xe.com, for all your currancy conversion needs

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quote:

Originally posted by rabbitjoker You're on par with the greenback!!!

why thank you.

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We are the kids of the quiet revolution, and we fight for a new quiet concept of evolution. We play house music.

quote:

Originally posted by rabbitjoker You're on par with the greenback!!!

You're on par with the loonie.

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quote:

Originally posted by shanny You're on par with the loonie.

you're off par.

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