Canadian dollar reaches parity with US dollar
{{date|September 20, 2007}}
{{missing image|Image:CAN Loonie.jpg|right|thumb|180px| Canadian dollar coin ("loonie").{{Image source|[http://www.flickr.com/people/67794534@N00 Brent Gilliard]}}}}

The rising value of the [[Canada|Canadian]] {{w|Canadian Dollar|dollar}} briefly matched the falling [[United States]] {{w|U.S. Dollar|dollar}} for the first time since 1976, before closing at 0.9987 US dollars on Thursday. The Canadian dollar has risen 62% since bottoming out at 0.6179 US dollars in 2002, following a steady decline since the 1976 electoral victory of {{w|Quebec separatism|separatist}} {{w|René Lévesque}} in {{w|Quebec}} which triggered economic fears about Canadian stability.

As a result of their rising currency, Canadians have enjoyed cheaper imports from the US and tourism in the US, while export industries have suffered. The Canadian dollar's recent rise is partly due to the soaring prices of oil, gold, copper, and wheat, which Canada exports in great quantities. The Canadian economy has also benefited from Canada's large budget and trade surpluses.

The value of the US dollar has also fallen in relation to other currencies in the past year: while the Canadian dollar rose 16%, the Euro gained 6%, the Japanese yen about 4%, and the British pound 2%. 

The US dollar took a sharp hit this week due to a higher-than-expected half-point cut in interest rates by the {{w|US Federal Reserve}}, intended to mitigate the effects of a deepening housing slump and turbulence in the credit market.
{{haveyoursay}}
==Related news==
* {{Wikinews|title=Fears grow about U.S. dollar value stability|date=September 20, 2007}}

==Sources==
*{{source
 |url    = http://www.cbc.ca/money/story/2007/09/20/canadiandollar.html
 |title  = $1 Cdn = $1 US
 |author =
 |pub    = CBC News
 |date   = September 20, 2007
}}
*{{source
 |url    = http://ca.today.reuters.com/news/newsArticle.aspx?storyID=2007-09-20T151933Z_01_N20369170_RTRIDST_0_NEWS-MARKETS-CANADA-DOLLAR-BONDS-COL.XML
 |title  = Canada dollar jumps above parity as greenback sags
 |author =
 |pub    = Reuters
 |date   = September 20, 2007
}}
*{{source
 |url    = http://ap.google.com/article/ALeqM5j6DO-M306r3uR6wYuld4DI8fUeXw
 |title  = Canadian Dollar Reaches Parity With U.S.
 |author =
 |pub    = Associated Press
 |date   = September 20, 2007
}}

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[[Category:Canada]]
[[Category:Economy and business]]
[[Category:North America]]
[[Category:United States]]
[[Category:Tourism]]
[[Category:United States dollar]]
[[Category:Currency]]
The rising value of the Canadian dollar briefly matched the falling United States dollar for the first time since 1976, before closing at 0.9987 US dollars on Thursday. The Canadian dollar has risen 62% since bottoming out at 0.6179 US dollars in 2002, following a steady decline since the 1976 electoral victory of separatist Quebec which triggered economic fears about Canadian stability.

As a result of their rising currency, Canadians have enjoyed cheaper imports from the US and tourism in the US, while export industries have suffered. The Canadian dollar's recent rise is partly due to the soaring prices of oil, gold, copper, and wheat, which Canada exports in great quantities. The Canadian economy has also benefited from Canada's large budget and trade surpluses.

The value of the US dollar has also fallen in relation to other currencies in the past year: while the Canadian dollar rose 16%, the Euro gained 6%, the Japanese yen about 4%, and the British pound 2%. 

The US dollar took a sharp hit this week due to a higher-than-expected half-point cut in interest rates by the , intended to mitigate the effects of a deepening housing slump and turbulence in the credit market.
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