Thursday, September 20, 2007
Okay, the loonie reached parity with the dollar today, for the first time since 1976. Again, this isn't necessarily bad for the dollar; it's just really good for the loonie. However, this should mean that the prices of goods imported into Canada would be dropping, since the loonie has climbed by 16 percent in relation to the dollar and Canadian merchants are therefore getting American goods at a cheaper price. But, so far, the prices here are not going down. So, basically, Canadian merchants aren't passing along the savings to their customers. And, if we want to save money, we have to spend our loonies south of the border.
Posted by Rufus at 8:17 PM