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Post by Throwback on Oct 1, 2007 15:30:21 GMT -5
September 28th 2007
TORONTO (Reuters) - The Canadian dollar rose above parity with the U.S. dollar for the first time in 31 years on Thursday as the Canadian currency's commodity-fueled rise was helped by a sharply falling greenback.
Canadian bond prices fell alongside U.S. treasuries.
The Canadian dollar rose as high as C$0.9996 to the U.S. dollar, or US$1.0004, according to Reuters data, before dipping back below the level.
At 11 a.m. (1500 GMT), the currency was at C$1.0003 to the U.S. dollar, or 99.97 U.S. cents, up from C$1.0152 to the U.S. dollar, or 98.50 U.S. cents, at Wednesday's close.
The historic level -- last hit in November 1976 -- follows a 62 percent rise from early 2002, largely fueled by surging oil and metals prices and the broad decline of the U.S. dollar.
It was the latter influence that drove the gains on Thursday, as the greenback hit a record low against the euro, weakened by the U.S. Federal Reserve's 50 basis point rate cuts on Tuesday, and concerns that further easing could follow.
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Post by gsguy on Oct 1, 2007 15:31:28 GMT -5
Damn Canadians!
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Post by Shy Guy on Oct 1, 2007 15:33:19 GMT -5
SUCKAS.
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Post by Dr. Marzvon Zombie M.D. on Oct 1, 2007 15:34:18 GMT -5
eh? lol
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Post by gsguy on Oct 1, 2007 15:34:52 GMT -5
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Post by forgottensinpwf on Oct 1, 2007 15:35:36 GMT -5
Yippie!
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Post by gabou142 on Oct 1, 2007 15:38:44 GMT -5
I remember a joke in the Simpsons when they gio in Toronto and bribe a guard with a big 1$ US and he readily accept...THE JOKE IS ON YOU NOW!!!  |
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Post by Throwback on Oct 1, 2007 16:10:01 GMT -5
I remember a joke in the Simpsons when they gio in Toronto and bribe a guard with a big 1$ US and he readily accept...THE JOKE IS ON YOU NOW!!! i was gonna say that.  |
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Post by chibidiablo on Oct 1, 2007 16:35:52 GMT -5
And the £ is worth 2x as much as both.
Haha, you peasants
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Post by Baixo Astral on Oct 1, 2007 16:36:38 GMT -5
I'm planning to buy up NYC in November, with my heap big shiny £1s.
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Post by chibidiablo on Oct 1, 2007 16:45:56 GMT -5
Ive got 50p for Toronto
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Post by daltonimperial on Oct 1, 2007 17:17:57 GMT -5
And the £ is worth 2x as much as both. Haha, you peasants I'm used to the pound being worth more than the dollar, but I was always able to comfort myself by making fun of the weak Canadian dollar. At least a dollar is worth more than a peso...for now. |
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Post by Dr. Marzvon Zombie M.D. on Oct 1, 2007 17:51:55 GMT -5
And the £ is worth 2x as much as both. Haha, you peasants I'm used to the pound being worth more than the dollar, but I was always able to comfort myself by making fun of the weak Canadian dollar. At least a dollar is worth more than a peso...for now. Give it time. Give it time.... |
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Post by Throwback on Oct 2, 2007 1:35:07 GMT -5
I really don't see the big deal in one countries dollar being worth more than another country. Maybe if I traveled to different parts of the world on a regular basis it would matter to me. But since I stay in my own home I really don't mind. I just thought it was interesting that it's the first time in 31 years since this happened.
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Post by Thread Pirate Roberts on Oct 2, 2007 1:39:21 GMT -5
Cool so when I finally move to Canada I will be even richer!
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Franchise
Hank Scorpio
No you didn't.
Ronnie Garvin, you idiot! I like steak, not soup, Ronnie Garvin!
Posts: 6,879
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Post by Franchise on Oct 2, 2007 2:27:47 GMT -5
I'm moving quite literally 10 minutes across the river from Detroit next month, so this is awesome.
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Post by Throwback on Oct 2, 2007 2:34:15 GMT -5
I'm moving quite literally 10 minutes across the river from Detroit next month, so this is awesome. I always thought it was crazy that detroit has such a huge crime rate but just across the river in windsor Canada has one of the lowest crime rate in the country. weird how that works eh? |
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Post by Thread Pirate Roberts on Oct 2, 2007 2:44:41 GMT -5
I'm moving quite literally 10 minutes across the river from Detroit next month, so this is awesome. I always thought it was crazy that detroit has such a huge crime rate but just across the river in windsor Canada has one of the lowest crime rate in the country. weird how that works eh? Because all the Canadian thugs sneak across the boarder and commit thier attrocious acts then go home! |
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Post by SsnakeBite, the No1 Frenchman on Oct 2, 2007 2:48:48 GMT -5
I really don't see the big deal in one countries dollar being worth more than another country. Maybe if I traveled to different parts of the world on a regular basis it would matter to me. But since I stay in my own home I really don't mind. I just thought it was interesting that it's the first time in 31 years since this happened. Well, I assume it can be a problem when a country needs to buy something from another country. If the money in the country that sells this thing is stronger than the country that buys it' s money, well it' ll be even more expensive for the country that buys it. And to buy the item, the country will have to find a way to get more money, which means increasing the taxes. I don' t know if I was very clear, not to mention that I' m not very god for this kind of stuff, but I believe that' s why it could be a problem. Ahem... *hands a Euro to an American* American : OH ! AN EURO !! I' m opening my own restaurant !! ;D ( joke, k ? ) |
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Post by Throwback on Oct 2, 2007 2:52:58 GMT -5
see I don't pay attention to poltics. unless it's going to make a drastic change in my life then I just don't care. If Canada owes another country money I don't care, it's not me who owes it. I know you're gonna mention taxes going up is like I'm paying the debt but I really don't care about my paycheck going down a few cents and my groceries going up a few cents.
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Hunt. Hunt.
