$1 Cdn = $1 US

Thursday, September 20, 2007

Canada dallar reached with the US dallars on the first time since November 1976. The Bank of Canada said the canadian daller almost reached $1.0003 US on exchange markets, but as later a day it slipped to just under US $1 dallar. Steve. The directer of foregin exchange at Scotia Capital Steve Butler siad, "I still think the fundamentals are so strong right now that we will see Canada continues to climb.

For Canada's economy, there are positive, and negative effects on this situation. Many Canadians will going to U.S, and spent their money, because Canadian dollars is almost same as US, and US products are cheaper compare to Canada. For example, Canadians who lives in the boundaries between Canada, and US, would go over the US, buy car fuels. Negative effect of Canadian dallar is equal to American dallar is that people is not going to buy Canadian market's product, so in Canada, outcome is going to be more than income next few months, or years until US dallars is going back.