Loonie Vanquishes the Greenback

That’s right, for the first time in 30 years the Canadian dollar has given the U.S. dollar a run for its money (’ha ha’ — very punny).

The latest exchange puts the Loonie at $1.0052 U.S. The last time the Canadian dollar closed above the U.S. dollar was 1976. Some analysts expect Canada’s currency to be worth as much as $1.03 U.S.D. by the end of this quarter.

Canada’s economy has been strong in recent months. The country has also benefited from its large, untapped oil resources. As energy prices climb, so does the value of Canada’s national treasure. Personally, I’m already waxing nostalgic for the paperback books that had two prices on the back.

Loonie image by DarrenBaker [public domain]