For the first time in 31 years the Canadian dollar was higher than the American dollar. The Canadian dollar has risen 62% since 2002. The Canadian dollar on Thursday topped the American dollar and was at $1.0008 which was the high of the day. The Canadian dollar finished at 99.87 cents. For Canadians its makes imports cheaper as well as vacationing anywhere in the States. Some harmful things are that Canada's will have less American tourists because it is more expensive than before to come to Canada. So in a way this benefits and at the same time is bad for Canada. I think imports are bigger than tourism so I think that the dollar being this high is better for Canada's economy. I think that if the Canadian dollar levels off just below the American dollar around 95 cents then it would be perfect for both sides.
Thursday, September 21, 2007
http://www.cbc.ca/money/story/2007/09/20/canadiandollar.html?ref=rss
1 comment:
I think this would affect both Canada, and American economy, because American products are usually cheaper than Canadian products. Canadian who lives close from boarder between Canada, and America, they would go to America, and shop there, because products are cheaper in U.S. Other hand, American would stay in their country, because Canadian products costs more.
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