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Loonie Closes Above US Dollar Value!

By 250 News

Friday, September 28, 2007 03:57 PM

    

It may not be good for lumber exports, but,  for the first time in more than  three decades, the Loonie has closed  above the parity mark with the U.S. dollar.

The Bank of Canada says the Loonie was up 2/3rds of a cent from Thursday’s close to end the week at $1.0052 US.

In other words, the US dollar is worth about 99 and a half cents Canadian.


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Comments

When the Canadian dollar was 75 US we were told that the price of clothing and imports from the US were high because of the dollar. Now that they are at par, we seem to be still be paying a premium price for everything compared to the US. By the way, I would wish to thank Chrysler Corp for not honoring warrenties on cars bought in the USA for thousands of dollars cheaper than the same auto costs in Canada. If they figure it will discourage me from buying in the US, the only thing they accomplish is that I will not deal with them in either country. Book stores no longer have my business either until the prices is equal to the US book prices. As a pensioner I might keep some money in my own pocket for a change. I still would consider buying electronics in the US when I next go to Vancouver. It would be a win, win situation: cheaper prices and no rip off tax for recycling fees. Life goes on.