Canada's dollar now worth 90 U.S. cents

[no name no slogan]

One less reason to pick on Canada rears its head. At least those "worthless" Canadians coins I keep getting in change are worth something now.

Canada's dollar rose above 90 U.S. cents Tuesday -- the first time it's been worth that much since the Camp David accord for Middle East peace was signed, the Jonestown massacre took place in Guyana, the Bee Gees topped the pop music charts with "Stayin' Alive" and Guy Lafleur and the Montreal Canadiens defeated the Boston Bruins for the Stanley Cup.

Known as the "loonie," Canada's dollar coin advanced to 90.44 U.S. cents from 89.82 Monday. It touched 90.45 U.S. cents earlier Tuesday, the highest since 90.62 cents on Jan. 24, 1978. One U.S. dollar buys $1.1057 Canadian.

The Canadian economy is growing at the fastest pace in six years, and Canadian exports such as oil and gold are trading near record highs. The Bank of Canada raised its benchmark interest rate to 4 percent last week and suggested more increases may be needed to stem inflation.

http://www.startribune.com/535/story/407913.html

[Ravenseye]

1. But But

How can they have a soaring economy? They have higher taxes than us and National Health care! But But!

[billyskank]

2. It's a mystery, amigo

:shrug:

[no name no slogan]

3. Time for an invasion

How dare those commies have a thriving economy?

[kay1864]

5. Blame Canada!

Evil conniving bastards.

[no name no slogan]

11. ...

[kay1864]

13. With that pic, you have now...

officially dissuaded Mrs. Kay from relocating to Vancouver. Yer on notice mister! :P

[phusion]

4. Has the Dollar fallen against other currencies too?

Wouldn't this development also reflect the downward spiral of the dollar's value?

[no name no slogan]

6. pretty much

that's the way it looks to me, at least. The dollar has been slipping against every currency over the last five years-- which can be good or bad, depending on what you do to earn your paycheck.

[rockymountaindem]

7. I think it's gone up against the Euro and the Yen

Well, insofar as we've gained ground against the Euro (it's still worth more) and the Yen is always way down there so the change doesn't matter much either way.

[bobbieinok]

8. weren't euro and dollar about same value when euro introduced?????

[rockymountaindem]

9. If I recall correctly

The Euro first equalled about 80 US cents. Now it's $1.26. At one point it wa $1.35 or $1.37, so at least we're up from there.

[Divernan]

10. It sucks against the Euro! Prepay anything you can for foreign travel.

Dollar used to be one for one with the Euro - not any more!

[Squeech]

12. Brazil

The real is 2.07 to the dollar today. That's the lowest it's been in the decade I've been paying attention.

I don't think it's just the dollar's weakness, I think it's also that Brazil now has exportable oil.

BTW, "real" is the Portuguese word for "royal," and has nothing to do with verisimilitude.

[no name no slogan]

14. "Real" was also used in Spanish currency, too

http://en.wikipedia.org/wiki/Spanish_real

in fact, I've read literature from the Spanish Civil War period (1936-39) that still referenced the value of a Real in relation to the Peseta.

[Lisa]

15. it figures! I just got a postal money order in $US

Maybe I should wait for our dollar to drop, before I cash it!

(The last time it was this high, I can barely remember ... I was too young to receive an allowance!)