http://biz.yahoo.com/ap/070921/dollar.html?.v=5
Canadians Find Better Bargains in US
Friday September 21, 12:33 am ET
By Rob Gillies, Associated Press Writer <TABLE height=4 cellSpacing=0 cellPadding=0 border=0><TBODY><TR><TD height=4></TD></TR></TBODY></TABLE>Canadians Find Better Bargains in the US As Countries' Currencies Reach Parity
TORONTO (AP) -- Canadians are expressing pride in their economy but might be more inclined to go on shopping sprees in the U.S. after the Canadian dollar reached parity with the U.S. dollar for the first time since 1976.
Thanks to a sinking U.S. dollar and soaring commodities prices that benefit oil-rich Canada, the "loonie" -- named for the Canadian bird depicted on the one-dollar coin -- could be exchanged 1-for-1 with the greenback Thursday.
"It makes me feel very proud. It's a signal that our economy is doing well," said Toronto freelance writer Ayah McKhail. "Everywhere you go in the world, the American dollar is just seen as the strongest one (currency). So to feel that, as a Canadian, our dollar is finally there, it's very exciting."
The U.S. currency also plummeted to a new low Thursday against the 13-nation euro, which traded above $1.40 for the first time since it was introduced in 1999. What's good for Canadian consumers and U.S. exporters, however, isn't such a boon to U.S. shoppers, who will find it more expensive to travel to Canada and to buy goods from the nation's largest trading partner.
Canadians Find Better Bargains in US
Friday September 21, 12:33 am ET
By Rob Gillies, Associated Press Writer <TABLE height=4 cellSpacing=0 cellPadding=0 border=0><TBODY><TR><TD height=4></TD></TR></TBODY></TABLE>Canadians Find Better Bargains in the US As Countries' Currencies Reach Parity
TORONTO (AP) -- Canadians are expressing pride in their economy but might be more inclined to go on shopping sprees in the U.S. after the Canadian dollar reached parity with the U.S. dollar for the first time since 1976.
Thanks to a sinking U.S. dollar and soaring commodities prices that benefit oil-rich Canada, the "loonie" -- named for the Canadian bird depicted on the one-dollar coin -- could be exchanged 1-for-1 with the greenback Thursday.
"It makes me feel very proud. It's a signal that our economy is doing well," said Toronto freelance writer Ayah McKhail. "Everywhere you go in the world, the American dollar is just seen as the strongest one (currency). So to feel that, as a Canadian, our dollar is finally there, it's very exciting."
The U.S. currency also plummeted to a new low Thursday against the 13-nation euro, which traded above $1.40 for the first time since it was introduced in 1999. What's good for Canadian consumers and U.S. exporters, however, isn't such a boon to U.S. shoppers, who will find it more expensive to travel to Canada and to buy goods from the nation's largest trading partner.
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