Loonie Hits 47-Year High; Update - Broke $1.10 today! - Page 4 - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Nehkara · 10-31-2007, 01:03 PM

Quote:

Originally Posted by return to the red

says you

I have great confidence in my refreshingness.

Azure · 10-31-2007, 01:09 PM

Where are you guys watching it?

return to the red · 10-31-2007, 01:15 PM

Quote:

Originally Posted by Azure

Where are you guys watching it?

www.finance.yahoo.ca

Azure · 10-31-2007, 01:31 PM

Quote:

Originally Posted by return to the red

www.finance.yahoo.ca

Thanks.

Nehkara · 10-31-2007, 01:55 PM

After a brief dip the dollar has resumed its surge... 1.0586

Nehkara · 10-31-2007, 01:59 PM

1.0592

Nehkara · 10-31-2007, 01:59 PM

For those keeping track... the Canadian Dollar has not been higher than 1.0614 since World War II.

Nehkara · 10-31-2007, 02:19 PM

WOW! It made it!!! Canadian Dollar hit its post-war high!

1.0615

troutman · 10-31-2007, 02:27 PM

up to 0.7324 vs. the Euro

return to the red · 10-31-2007, 02:30 PM

Quote:

Originally Posted by troutman

up to 0.7324 vs. the Euro

the Euro and the GBP at just over .51 are a good indication of the true strength of the Canadian Dollar.

Juventus3 · 10-31-2007, 02:50 PM

I'm sure this is somewhere in all the CDN Dollar threads already, but what's the highest it's ever exchanged at against the USD?

Nehkara · 10-31-2007, 02:58 PM

Quote:

Originally Posted by Juventus3

I'm sure this is somewhere in all the CDN Dollar threads already, but what's the highest it's ever exchanged at against the USD?

Wikipedia:

Quote:

Unlike other currencies in the Bretton Woods system whose values were fixed, the Canadian dollar was allowed to float from 1950 to 1962. From 1952 to 1960, the Canadian dollar traded at a slight premium over the U.S. dollar, reaching a high of US$1.0614 on August 20, 1957 (the all-time high of US$2.78 was reached on July 11, 1864 after the United States had temporarily abandoned the gold standard).

Azure · 10-31-2007, 03:11 PM

So what it hit today is the all-time record?

Bertuzzied · 10-31-2007, 03:13 PM

Quote:

Originally Posted by Azure

So what it hit today is the all-time record?

That would be $2.78 i think. Too bad Bush isn't in power for another 3-4 years. hehe

Nehkara · 10-31-2007, 03:31 PM

Quote:

Originally Posted by Azure

So what it hit today is the all-time record?

The all-time record is $2.78 but that was almost 150 years ago...

The modern-day (post-war) high was $1.0614 and it hit $1.0615 today but I think it may have been after the markets closed so I am not sure if it is official or not.

MoneyGuy · 10-31-2007, 09:34 PM

Quote:

Originally Posted by Kobatuzzied

That would be $2.78 i think. Too bad Bush isn't in power for another 3-4 years. hehe

It's never been that high, has it? Source? Never mind. Found this.

Loonie at highest level on record

Release date: 31-Oct-07 10:04 PM
The seemingly unstoppable Canadian dollar surged to its highest level yet Wednesday, topping 106.17 cents (U.S.).
The record came just after 4 p.m., when official trading ended for the day. Officially, the dollar closed at 105.85 cents, up nearly a cent from Tuesday's close, but trading continues virtually around the clock.
By cracking through 106 cents, the dollar topped what most observers believe to be the old record of 106.14 cents set on Aug. 20, 1957.
Technically, the dollar was worth as much as $2.78 in the late 1800s, but that's largely because during Canada's early history the value of the currency was either pegged to the price of gold or regulated by the government. It wasn't until 1950 that the dollar began trading freely on global markets, according to the History of the Canadian Dollar, written by James Powell. The Bank of Canada recognizes the 1957 mark as the official record.

[Mod edit- please do not post entire article.]

V · 10-31-2007, 09:37 PM

nm

chris lindberg · 10-31-2007, 10:00 PM

Quote:

"As long as you still see all these factors and the current backdrop continue, there is the potential for further strength."

Will they eventually put higher sticker prices on the american goods and lower sticker prices in Canadian funds? ($10 American vs $9 Canadian)

Quote:

a warning by Prime Minister Stephen Harper this week that unless retailers lower their prices in face of the soaring Canadian dollar the government would take some unspecified action.

What would/could the government do?

V · 10-31-2007, 10:08 PM

Is anyone here buying US$ as an investment? I'm just curious, because I've heard of some people doing it, and I just don't see if the ROI is there to justify it. Any opinions?

ken0042 · 10-31-2007, 10:16 PM

Quote:

Originally Posted by MoneyGuy

It's never been that high, has it? Source? Never mind. Found this.

Loonie at highest level on record

Well, there's the arguement. Some people don't classify the mid 1800's because Canada wasn't a country. The other bit of wording- the "Loonie" has never been higher- keep in mind the "Loonie" has only been around since 1987.

So, a few ways of looking at it.

Oh, and please edit your post. We can't have people posting entire articles to copyrighted material.