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View Full Version : Canadian Dollar Worth More then US Dollar

TruthSeeker
10-09-07, 12:35 AM
Nice, EH!? :D

Go Canada! :m:
spuriousmonkey
10-09-07, 01:27 AM
It just means that Americans will start flooding into Canada to harvest oranges. Start building a wall.
madanthonywayne
10-09-07, 01:42 AM
Well, the Canadean dollar was briefly slightly above the US dollar, but closed at less than the dollar.
The loonie briefly reached $1.0003 US on foreign-exchange markets shortly before 11 a.m. ET, the Bank of Canada said. The currency spent much of the rest of the day flirting with parity — at one point trading at $1.0008 — before closing at 99.87 cents US, up 1.37 cents from Wednesday's Bank of Canada close. http://www.sciforums.com/newreply.php?do=postreply&t=72300
Carcano
10-09-07, 08:17 AM
Its not so much that the Canadian dollar is strong, but that the US dollar is weak.

Canada has been paying off its national debt with huge surpluses...while the US continues to build bombs with borrowed money.
nietzschefan
10-09-07, 08:18 AM
That was a while back, its been trading within 1 cent (above and below) par for a few weeks now.
S.A.M.
10-09-07, 08:22 AM
Is the Canadian government purchasing US dollars to keep the CND at parity?
nietzschefan
10-09-07, 08:25 AM
LMAO, no there are trickier ways to fight the climb of the Canadian dollar, but yes both sides of the border are fighting it.
S.A.M.
10-09-07, 09:57 AM
The reason I asked is because the Reserve Bank of India is absorbing all the dollars funds, since the Rupee (which used to trail at around 46 per dollar) is now at around 39 per dollar.
nietzschefan
10-09-07, 10:12 AM
The reason I asked is because the Reserve Bank of India is absorbing all the dollars funds, since the Rupee (which used to trail at around 46 per dollar) is now at around 39 per dollar.

Well Canada and the U.S are eachother's largest trading partner. Canada largely exporting to the U.S. A small fact few joe blow 'mericans even know, however nearly every 'canuck knows. It sure isn't the best course for us to just buy some greenback(esp when it is estmated to tank at least to 1.10 in the short term).

It will be battled via rate adjustments and trade tweaking(tariffs, etc). Basically screwing the little guys as much as possible, is my guess.

I just hope it is not a ploy to keep the dollar at par for as long as possible to make transition to an AMERO dollar - easy. I wouldn't be surprised, though.