Thursday, October 11, 2007

Forecast for Canadian Dollar 2008

I have written frequently about the decline in the US Dollar.

Mirroring the decline in the US Dollar, the Canadian Dollar (nicknamed the Loonie, after the bird that appears on coins) has experienced a significant appreciation.
The strength of the Canadian dollar is due, not just to a falling US dollar, but also the strength of its exporting raw material sector.

I have written here about The future prospects for the Canadian dollar

2 comments:

Anonymous said...

"nicknamed the Loonies, after the bird that appears on bills"

Actually, we don't have dollar bills anymore. It is a coin that the loon appears on. :)

Bryan said...

In fact the Loon never appeared on any bills. The most recent Canadian 1 dollar bills had a picture of the parliament buildings on one side and the queen on the other, if I remember correctly. The loon only appeared on the coin which was introduced in around 1987. The actual nickname for this coin is the 'Loonie' (as opposed to the plural form of the word cited in the author's post). The Canadian Mint holds the rights to this name.