Canadian dollar at 47-year high

[drag n' fly]

Canadian dollar at 47-year high in morning trading at 104.69 cents US
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at 11:55 on October 29, 2007, EDT.
By THE CANADIAN PRESS


A Canadian dollar, or loonie, sits on top of its American counterpart in Toronto Thursday Sept. 20, 2007. THE CANADIAN PRESS/Adrian Wyld
TORONTO - The seemingly unstoppable Canadian dollar traded at a 47-year high Monday, hitting 104.69 cents US late in the morning.

That's a gain of three-quarters of a U.S. cent since Friday as the currency hit a level unseen since early 1960 - when John Diefenbaker was prime minister and Dwight Eisenhower was still in the White House.

The loonie has risen more than 18 cents US this year, as several factors converged to drive it to parity with its U.S. counterpart and beyond, including record-high oil prices and a weak greenback.

Another element hurting the U.S. dollar, in relation to the loonie and other currencies, is the likelihood that the U.S. Federal Reserve will cut interest rates again this week in an attempt to boost the American economy.

 

[DbleTheFun]

Dont you just LOVE it???? We are heading to Hawaii next week and are so excited about the $$ being this high! Not to mention, it convinced my DH to finallly buy into DVC!!

 

[Disneydaddycanada]

Changed $100.00 cad for my DD4 for are christmas trip. This was her allowance savings. She received $103.90 usd.

She is only 4 yrs old so she does not understand how important this is to us...

I still remember going in 1999 when we were at .67 usd for every cad dollar.

What a swing!

 

[debbiet1]

Thats a terrific rate. Hopefully it just keeps getting better. We were in Florida early 90s when it was sooooo bad.. This will be a nice change.

 

[Lollipop's Mom]

It is great for vacation and shopping, but terrible for many Canadian businesses that rely on the US. The film industry in Canada is dying slowly because of it.

 

[KINGBOBOFTHENORTH]

Canadian dollar at 47-year high in morning trading at 104.69 cents US.

The U.S. dollar at all-time lows.
U.S. gasoline at all-time highs.
The war in Iraq.

Just a few of the reasons I say, "Thanks, George!!"
I sure wish there was a way we could keep you 4 more years.

BobK/Orlando

 

[TreesyB]

It is great for vacation and shopping, but terrible for many Canadian businesses that rely on the US. The film industry in Canada is dying slowly because of it.

Or one could say that the cream of the crop is rising to the surface. Those who are good Canadian fare will survive. It's the US shlock that comes to Canada that dies.

 

[Nagle]

Or one could say that the cream of the crop is rising to the surface. Those who are good Canadian fare will survive. It's the US shlock that comes to Canada that dies.

HUH?

 

[drag n' fly]

The dollar is high but we are being extremely careful with our money. The royalty review made us review our investments etc more carefully and put all our ducks in a row. We decided to not buy the new vehicle and just keep on driving our '05 since it is paid for. We are clearing any remaining debt before we buy DVC. I tend to be over cautious since their is no such thing as job security anymore and things are a bit unstable in the oil and gas industry right now.

 

[SeanK]

36 days until i buy a DVC

 

[sheilag]

The Canadian dollar certainly has Disney reaching out to Canadians - that new special for Canadian residents is a good deal at a peak travel time (Jan1-Mar15).

 

[Charleyann]

I have all my American Money. Never paid any US exchange. First time ever we came ahead!


Charleyann

 

[Tantor]

They mentioned on the news the other day that it may go up to 1.10

 

[TreesyB]

Or one could say that the cream of the crop is rising to the surface. Those who are good Canadian fare will survive. It's the US shlock that comes to Canada that dies.

HUH?

Sorry, I was responding to the Canadian Film industry dying thing. It just means we are making better Canadian TV and Film since the Canadians aren't competing with the US B movies that come here.

With the strength in our dollar comes the strength in Canadian culture.

 

[CanadianGuy]

Tressy:

I think what the poster that mentioned that was saying was..

That the large amount of U.S. productions flocking to Canada (in part) because of the lower value of our dollar is drying up .. putting lots of technicians and below the line workers in the TV/Film industry out of work ..

Knox

 

[TreesyB]

Tressy:

I think what the poster that mentioned that was saying was..

That the large amount of U.S. productions flocking to Canada (in part) because of the lower value of our dollar is drying up .. putting lots of technicians and below the line workers in the TV/Film industry out of work ..

Knox

I'm well aware of that, but all the A team technicians are now working for our Canadian productions, thus making a better product that the US dollar were able to pay for and now those technicians are working on the Canadian productions, making those products better.

 

[CanadianGuy]

AH! Now I get it!!

Knox

 

[CanadianGuy]

It's at a 57 year high now.. the highest level recorded since the Canadian dollar was allowed to 'float' on the open currency markets in 1950..

Unbelieveable.

1.0614 or something crazy like that..

Knox

 

[bababear_50]

Good enough to make me finally book that last few nights in Disney--kinda feel like I'm getting good value for my hard earned dollar.

 

[Calgary DISHeads]

There is good and bad in it - but as far as Disney vacations go it's all good! We did Disney back in Jan 2003 when the dollar was $1.62, and we paid $100US a night at CBR. Now because the $ is good we can justify (how I ask??) the Poly and BC at Christmas but we do. I do work in O&G, my husband doesn't, but Calgary is always affected no matter if you work in the industry or not. Anyhoo, Disney Christmas here we come nice thing is because I travelled so much for work this year we got 3.5 out of 4 airline tickets for free