Loonie hits 28-year High against the US Greenback

[Kittycat]

Sorry if this is a dup. A friend from Canada shared this with me yesterday.

http://www.ctv.ca/servlet/ArticleNews/print/CTVNews/20060428/cdn_dollar_060428/20060428/?hub=Canada&subhub=PrintStory

Loonie hits 28-year high against U.S. greenback




CTV.ca News Staff

Updated: Fri. Apr. 28 2006 11:37 PM ET

The Canadian loonie reached its highest intraday level in more than 28 years against the U.S. dollar on Friday, bolstered by strong domestic economic growth data.

The Canadian currency rose to hit 89.41 U.S. cents, to its highest peak since 1978, CTV's Business Editor Linda Sims reported Friday afternoon.

"It is not an all-time record high, because, of course, you remember, there was a while when they were at parity with the U.S. dollar, even a bit above that," Sims said, adding that the last time the Canadian and U.S. dollars were at par was in 1976.

It has risen more than 40 per cent against the greenback in just under four years.

Canada's dollar will continue to gain and may soon reach parity with its U.S. counterpart, Sims said.

-more at link

[Canuckistanian]

1. Bad news for Canadian producers

But good news for Canadian consumers! And our gas prices are going down.

[megatherium]

2. Wow! I lived in Canada in 1987, and the Canadian dollar was at 69 cents.

It climbed to 74 cents (if I remember), which I thought was great, since I was being paid in Canadian dollars.

[thecrow]

3. I bought my Canadian propertyat $0.62 hoping to retire there

and hoped that6 my SS money would last me longer.

*sigh*

Now all I can hope for is a better political climate.

[Kittycat]

4. Consider that a sound investment - at minimum.

Glass half full ;)

In another year or two, after bush has destroyed everything, you can sell it for profit - then buy cheap land in the states.

[eppur_se_muova]

5. The "LOONIE" ?!? Please explain this little bit of cultural wonderment. nt

[jpak]

6. Canadian slang for their dollar coin (has a loon on the reverse)

Not to be confused with a "Twonie" which is a $2 coin with a polar bear on the reverse.

[eppur_se_muova]

8. Oh, OK ... no sillier than a "buck", then.

I read once that American bills used to have pictures of farm animals on them ... rooster, cow, horse ... so people who couldn't read could tell how much the bills were worth. Not sure if that explains the "buck" or not.

[lonestarnot]

7. whatsa Canadian looooooonie? loooook like?

[Neil Lisst]

9. Way to go, Bush!

Used to be when you went to Canada, you felt like you were making extra money because of the exchange rate. Now, it's not even enough to cover the GST.