Yes, the Canadian Dollar's highest peak was $1CAD = $1.08USD. This type of thing never happened after the 1970s as the Canadian Dollar was approximately 90 cents American until 6 months ago when the Canadian dollar (and possibly other currencies as well) skyrocketed. What does this mean? Buying power. However, little do happy Canadian shoppers know, the high dollar is impacting people like me. Yes, it impacts the manufacturing and export sectors, but the less known aspects it hits are families with members who work at other places on Earth to provide a living back home.

For example, my father works in Hong Kong and the rest of us lives in Toronto. Due to the skyrocketing loonie, now my dad needs to work many times harder to earn that $1 Canadian compared to couple years ago. The bad thing is that as long as the American Dollar drops, the Hong Kong Dollar drops, so it's bad news for me sad.gif.

So, this means that as long as the American Dollar drops, many people will suffer, even shoppers (yes, we still get charged more than Americans do for the same good. Damn businesses and their gouging.)

 

 

 

Reply

well the american economy isn't all that great either. The american dollar is losing its value because of american spending and what not. and it doesn't help that american has a ridiculously crazy debt. i think its in the billions already oh but what can you do :3 bush spent more on the freakin "war in iraq" which isn't our war but w/e don't get me started with that lol.

Reply

The American debt is in fact about 9 trillion dollars. It increases at just a bit under 1.5 billion dollars a day. If the American dollar continues to lose value it will cause issues for the the entire global economy, not just Canada's. A large part of the issue is that the American dollar has been largely considered the "standard" that other currencies could check their value against. Hopefully, the dollar will stop dropping and any sort of crises can be averted. If not, then it may be up to the EU to use the Euro as the new "globally accepted" currency standard.

Reply