Wow - 1 Canadian dollar is now worth more than 1 US dollar

[NewJeffCT]

I was browsing some eBay auctions and saw a seller from Canada that I had bought something from a few years back - it was normally like $50 CAD and I would to have to pay a little over $40 US for the item. However, I saw that he had something us for $65 CAD and it was like $66+ US.

Maybe it was some new paypal conversion fee that put it over the top?

Nope - I did some online research and sure enough, the US dollar is now worth less about 97.5 cents in Canada.

http://finance.yahoo.com/currency/convert?amt=100&from=USD&to=CAD&submit=Convert

[raccoon]

1. Alas, Babylon. nt

[rucky]

2. I bet the malls in Detroit are crawling with Loonies. n/t

[truebrit71]

3. It's been that way for a little while now...

...amazing isn't it?

[Warpy]

4. The Loonie topped the dollar a couple of weeks or so ago

People who are buying items out of country need to consult http://www.xe.com/ to find out what it costs in $US at the day's closing rate.

[adigal]

5. The only good thing about that is shoppers

coming to NY from Canada.

[mitchtv]

19. Palm Springs is very happy

Lots of Border Brothers making reservations, for extended stays. Only problem is driving behind Alberta plates. Besides that , all good

[OrangeCountyDemocrat]

6. But The Stock Market Is At Record Highs

:sarcasm:

At least that's what they would like you to believe.

Shhhhh....don't tell anyone.

[PearliePoo2]

7. when was the last time this happened? nt

[gateley]

9. Good question! Living in Seattle, we'd go to Vancouver and shop like fiends

because the dollar was so strong in comparison. I'm 54 and I never remember it being the reverse.

[NewJeffCT]

12. Mid 1970s, I think

results of the Nixon-Ford economic policies.

[Zywiec]

14. The Canadian currency last closed above $1 on Nov. 25, 1976

and remarkably you and our country are still here.

[Vilis Veritas]

17. Can I buy you a beer? Most sane post today...

:toast:

[Zywiec]

20. I never turn down a beer,

it's one of my favorite things in life, as you can see by my avatar and screen name.

Cheers!

:beer: :toast:

[PearliePoo2]

18. thanks for the info

31 years ago!
Damn, I'm getting old.
I've spent lots of US dollars in beautiful Victoria, B.C. when the US dollar would get you $1.25 Canadian.
Great deals on woolens, dinners, Northcoast Indian art, Butchart Gardens and locally brewed beers.

[TahitiNut]

23. Yup. Ford's clemency and Carter's pardon of the draft dodgers saved the Amerikan dollar!

:silly: :dunce:

[kestrel91316]

8. Wow. Mission Accomplished (TM).

[Romulox]

10. I don't have a problem with this

We have quite a trade deficit with Canada, IIRC.

[Yavin4]

11. How Can A Country With Socialized Medicine Have A Currency More Valuable Than Ours?

I hear that Canadians have to wait 3 years just to see a doctor, and dead bodies are piled up in their streets 'cause their doctors are poor.

:sarcasm:

[pampango]

15. Canada is a net exporter, not a huge net importer like the US.

National health care and better social services notwithstanding, they have figured out a way to export more than they import. That tends to strengthen your currency.

[whoneedstickets]

13. The Last time this was the case....

..was before Nixon abandoned the gold standard. Canadian dollars were routinely worth $US 1.10 through the 60's. When Nixon decoupled the currency it created even more demand for the dollar as a reserve currency in a free-floating market. This sent the dollar's value climbing. This (and OPEC) are part of what created the rust-belt crisis of declining US manufacturing exports as the cost of US goods was made higher by the change in exchange rates.

Later in the 70's and 80's the Canadian government's deficits led to declining confidence in the dollar (many thought that the governent would use inflation to shrink the debt) and the Loonie hit record lows.

However, Chretien's liberal governments balanced the budget and even ran a surplus that allowed the Canadian dollar to rise in value.

This may not be good thing for the Canadian economy -- but it is great for energy exporters!

[Yavin4]

16. Is It True That Celine Dion's Face Is On The Loonie?

Or is it Anne Murray?

[Canuckistanian]

24. I'd be grinding it off if that were true

Hey, Celine! Why the long face?

[Lisa]

21. funny to think that Canadian Tire money (a type of coupon we have up here) is now past parity!

[Aristus]

22. My wife and I are going up to our regular retreat in Victoria B.C. next week.

We're going to get soaked in the exchange rate for two nights at a nice B&B. This'll be the first time we've been to Canada since the Canadian Dollar surpassed the U.S. Dollar. Man, I guess we should just wallpaper our house with our U.S. green from now on...

[Lisa]

27. well, I hope you have a nice visit anyway ... if you've got a DU sticker ...

... I'll look for it around town!

Things are totally slammed at work next week, or I'd offer to take you out for lunch.

[SergeyDovlatov]

25. Yeah. Go Bush. Go Iraq war!

Did you notice that in the recent repub debate, Brownback was expounding on how america is great and that it has 1/3rd of the world military spending.

[applegrove]

26. Whenever the USA ends up in some crummy war the Cdn $ goes above

par to the American one. Happened in the 1970s too.

[joe_sixpack]

28. Oh man,

does that mean the price of Canadian bacon is going up?

[XOKCowboy]

29. It's true. Unfortunately our $$ is in the toilet. The economy is great though...

I'll still go up there for the wonderful people, the beautiful countryside, the wonderful laws concerning things like pot. It'll just cost a bit more. :shrug: