Canadian and US dollar at par

[Slipstream]

Canadians have waited 30 years for this and it's finally about to happen. The Loonie having parity with the US dollar. In fact it might even go higher and be worth more than the greenback.

OTTAWA (AFP) — The Canadian dollar reached a 30-year high Tuesday, nearing parity with the US greenback after the US Federal Reserve cut its key interest rate.

The loonie closed at 0.9864 US dollars, after touching 0.9874 US in the day's trading, its highest level since January 1977, according to the Bank of Canada.

One US dollar would thus buy 1.0138 Canadian dollars.

Following a week of gains in anticipation of a US interest rate cut and record oil prices, the surge came after the US Federal Reserve reduced its key lending rate by half a point to 4.75 per cent. The US paring was double the quarter point economists had expected.

Analysts now say the Canadian dollar could reach parity with the US dollar in the coming days or weeks, already up 13.9 percent this year against the greenback. In the past half decade, the loonie was highest in August 1957, at 1.0613 US, and lowest in January 2002, at 0.6202 US.


XE.com currency conversion rates -

1.00 USD = 1.00956 CAD

1 USD = 1.00956 CAD
1 CAD = 0.990528 USD

 

[anitram]

Shopping in the US is so incredibly cheap for us. It goes to show how for years we have overpaid ridiculously for the exact same items that Americans were buying for 1/3 less. It's a bonanza to go down south these days!

 

[snowbunny00774]

$ for $

Not good for business, but good for me

 

[sulawesigirl4]

arg, dammit! I am going up to Canada next week and was soooo looking forward to the excellent exchange rate.
Thank god, work is paying for everything and I don't have to worry about the prices.

 

[indra]

You call your dollars loonies?

How come every country in the world other than the US seems to have a sense of humour?

 

[anitram]

You call your dollars loonies?

How come every country in the world other than the US seems to have a sense of humour?

It has a loon on it.

The $2 coin is a toonie.

 

[indra]

It has a loon on it.

The $2 coin is a toonie.

Even better!

 

[BAW]

It has a loon on it.

The $2 coin is a toonie.

Rick always has trouble remembering that and calls them "one-ies" and "two-ies"

 

[SeattleVertigo]

Canada has become crazy expensive for those of us south of the border! I can remember when I could get about $1.50 Canadian for an American dollar. Those were the days!

 

[deep]

gotta love the bush years

 

[Varitek]

I hate the god damned price of the dollar. A year ago I considered putting a couple thousand into Euros and didn't - I'm kicking myself for that one. God damn it. First the pound goes above 2$ and now Canada catches up? I can't wait to blow this country and start earning a currency that's worth something.

BUSHasdio;fio493090fiju09 t49 fdsasshole.

 

[elevated_u2_fan]

I for one am happy about this

I was getting sick of the Canadian Quarter jokes...

 

[Irvine511]

I was getting sick of the Canadian Quarter jokes...

we always refered to it as the "Canadian Peso."

 

[BAW]

Canada has become crazy expensive for those of us south of the border! I can remember when I could get about $1.50 Canadian for an American dollar. Those were the days!

Gone are the days of getting a really nice hotel room in Canada for less than $100US

And I loved taking out $100 from a Canadian ATM and seeing it as $72-$75 on my bank statement later

 

[SeattleVertigo]

The new passport requirements are gonna kill travel from the U.S. to Canada. Such a low percentage of Americans even have passports.

The Seattle-Vancouver border crossing is about to get very bad too, because they're closing several lanes in order to do some renovations and new construction in advance of the Vancouver winter games.

 

[deep]

it won't be long before the Canadian dollar has more value.

Over the next quarter there will be other rate cuts by the Fed.

 

[ladywithspinninghead]

Yeah, bad for business, but great for consumers. I can't wait to go shopping in the U.S. this fall

 

[Canadiens1131]

SEE YOU IN PLATTSBURGH, BITCHES!!!!!!




AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

 

[melon]

By the way, for those Canadians buying American goods and importing them back to Canada, what's your customs allowance before you have to pay duty?

 

[anitram]

By the way, for those Canadians buying American goods and importing them back to Canada, what's your customs allowance before you have to pay duty?

Depends on how long you stay in the US.

No allowance under 24 hrs. Under 48 hrs it's $50. Then a week is a lot, something like $750 I believe. It goes up on a gradient scale.

But realistically you can bring anything you want over the border. Nobody cares. They must know we're all full of shit, but I've never, ever had even the suggestion of an inspection, much less an actual one.

 

[snowbunny00774]

48 hrs - 7 days is $400, then 7 days + is $750

and yeah, they don't really care.

 

[Irvine511]

for all your whining, we're so good to our cold kid brother to the North.

 

[snowbunny00774]

official today

 

[Canadiens1131]

We need an Interference get-together car trip to the Duty Free to get some liqueur at cheap US prices

 

[anitram]

for all your whining, we're so good to our cold kid brother to the North.

American customs aren't the ones to inspect entrance to Canada, it's the Canadian ones and they don't care.

National jobless rate is at a 30-year low as well!

 

[ntalwar]

If oil and metal prices keep rising, Bush might decide to annex Canada.

 

[Canadiens1131]

American customs aren't the ones to inspect entrance to Canada, it's the Canadian ones and they don't care.

National jobless rate is at a 30-year low as well!

Yeah, we are really experiencing a boom, but I wonder how long it will last since Canada's economy is so intertwined with the States'. The US, depending on who you talk to, is either about to experience a bad couple of years economically, or is about to head into "the R word", in a worse case scenario.

 

[ladywithspinninghead]

Hurry up and do your shopping kids as economists are saying the dollar will be back at 90 cents US by Xmas


I had so much fun buying stuff from ebay today

 

[ntalwar]

I don't think there's a consensus on what's next for the Canadian dollar. Its value is strongly related to the price of natural resources, and if the current bubble continues, it could get even stronger.

 

[Lally1011]

It's a good thing for the canucks...considering they can buy stuff w/o sales tax in some states whereas Canada has GST.

That can add up.