Canadian Dollar Soaring against the Green Back!
The Canadian dollar is continuing its upward climb since March of this year against the US dollar.
The Loonie is currently above $0.95 US. It hasn’t reach these levels since October 2008 when it was above parity at $1.07 US.
While a higher Canadian Dollar actually hurts the Canadian economy which depends so heavily on exports to the US, it’s great news for Canadian cross-border shoppers!
You can track the current status of the Canadian Dollars against the US Dollar with Google Finance.
Update: Tuesday, Oct 13, 2009 – After a holiday Monday in Canada, the Loonie is soaring to new heights for 2009. The Canaian Dollar exchange rate is hovering around $0.97 USD.
According to the “experts” this trend upwards will continue until it hits parity and will remain there for the Holiday season.
You will definitely get a bang for your buck when you go cross-border shopping for your Christmas gifts.
If it hurts the cdn economy, it’s bound to go down again, is it not?