Canadian Dollar Drops to 80 Cents US

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by Jordan Yerman | December 3, 2008 at 08:40 am
902 views | 26 Recommendations | 7 comments

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Easy come, easy go... once riging high, the Canadian Dollar is once more losing ground. Maybe due to the cartoon-brawl into which our government has descended: a little tornado with fists flying in and out.

The loonie was trading at 79.63 cents about an hour before North American stock markets were set to open Wednesday, down 0.31 cent from Tuesday's official Bank of Canada Close of 79.94 cents, having earlier fallen as low as 79.55 cents.

“I must say there's been a lot of interest in Canadian politics, which is very unusual,” Steven Butler, director of foreign exchange at the Bank of Nova Scotia in Toronto, said of the drama in Ottawa where a Liberal-New Democrat-Bloc Québécois coalition is threatening to unseat the Conservative government.

Source: business.theglobeandmail.com

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Most RecentMost Recommended Comments (7)

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0
Iffy
Iffy (not verified)

at 11:57 on December 3rd, 2008

The Canadian dollar is worth 60 cents US. I am sorry to break that news to you, but that reflects Canada's global economic role.

0
Fairbanks
Fairbanks

at 12:09 on December 3rd, 2008

1 $ gets you $CA 1.26.  It has been so since the first round of $700 billion bailouts a couple months ago.  While the world economy is melting down, the best place to be, if not in the USA, is in a neighboring country. 

0
lefty_liberated
lefty_liberated

at 07:07 on December 4th, 2008

Yeah well they're such bad people for being self contained and hesitant to ruin the earth through greed. Sorry that was meant for a reply to the first comment. Oh and I disagree. I'd immigrate to Canada in a heartbeat. 

0
scott43729
scott43729 (not verified)

at 23:26 on March 13th, 2009

60 cts no way buddy canada poor above 85 we still need to import goods from usa the market investors decide what its worth at 60 is a total joke not below 80 better at 87 88 1.12 goods in usa are way better than canada and less taxes if i can get better deal in usa screw canada you just want canada to be inferior to the united states if investors like canada and get good return on their money theyll drive up the can dollar value over 90cts is good dont complain im going shopping

0
RJulius
RJulius

at 17:51 on December 3rd, 2008

All of which are signs of economic stress....

0
lefty_liberated
lefty_liberated

at 07:04 on December 4th, 2008

What a bummer. Take Harper down! Woohoo! lol. 

0
denseatoms
denseatoms

at 14:26 on December 4th, 2008

Back in October, on a trip to Quebec City, I once again felt like an American rich man. I felt guilty, but it sure felt good.

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