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On 31st October 2007, The greenback (USD) hit 130 year low against the loonie (CAD). At about 4:15PM, each U.S. dollar was worth 94.19 Canadian cents shattering the previous record set over a century ago. Currency exchange experts expect the U.S. dollar to drop to around 90 Canadian cents before leveling off.

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  • Breaking News/Archive/102007
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  • On 31st October 2007, The greenback (USD) hit 130 year low against the loonie (CAD). At about 4:15PM, each U.S. dollar was worth 94.19 Canadian cents shattering the previous record set over a century ago. Currency exchange experts expect the U.S. dollar to drop to around 90 Canadian cents before leveling off.
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  • On 31st October 2007, The greenback (USD) hit 130 year low against the loonie (CAD). At about 4:15PM, each U.S. dollar was worth 94.19 Canadian cents shattering the previous record set over a century ago. Currency exchange experts expect the U.S. dollar to drop to around 90 Canadian cents before leveling off. The American Federal Reserve interest rate cut, the Canadian tax cut, and the raising oil price combined to push the greenback down against the loonie. America is currently recovering from a Credit Crunch while Canadian Oil Sand and Offshore Oil is seeing record demand in the world market. The Credit Crunch may lead to a Housing Crunch in America as the mortgage rates reset. If that happens, Currency experts expect the U.S. dollar to drop to Civil War level. Canadian shoppers is exploiting the strong loonie to make purchases in American shops during their snowbird trip south to avoid the icecold harsh Canadian weather. Even though the loon is soaring above the eagle, most American shops only will accept the loonie on par (1:1). American shop owners are all thanking the greatest president ever, George W. Bush, for the greenback consecutive drop over the past six years to the extremely low level today for bringing in all the Canadian snowbird shoppers.
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