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Posts Tagged ‘Canadian loonie’

Despite Canada running a budget surplus for over 10 years, and the U.S. running a budget deficit for eight years, on September 29, 2008, the Canadian dollar underwent a decline from 96 cents USD to 77 cents USD in less than one full month.

From xe.com/ict, we see that on September 29, 2008, the Canadian dollar was valued at 96 cents USD.
By October 27, it had fallen to 77 cents USD — a decline of 20% in less than one full month.

Luckily for Canadians, the drop bottomed out there, and didn’t continue to an 80% drop in four months, like Iceland’s currency did from July to November, 2008.

What’s the Canadian loonie been up to lately? After its big dive from September-October, and low flying since then, it’s gone up from 83 cents USD on April 29, 2009 to 91 cents USD on May 29 — a 10% increase.

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