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Tuesday, January 03, 2006 |
Followup: More On Those Wacky Canadians
Welcome to 2006, a year in which the Canadian dollar is expected to hit $0.90 US, being the first time in my memory that the Canadian currency will be worth more than the US dollar of the same denomination. With crude steady at just north of $60/bbl, there's plenty to like about the Great White North's money; if the increase suggested by Reid Farrell of CIBC World Markets is correct, that means the wily Canadians would get a 6% discount on B.J. Ryan's seemingly absurd contract, and in fact, on their whole payroll. Of course, the years are more painful than the money, but still, their offseason dealing is looking better and better.
Comments:
I think you misread that, it said that it will be worth C1.10 or .90 US cents by March. Considering that it is trading at .87 right now, that is a large leap, but not as large as what you predicted. I doubt anyone would have the stones to predict a ~20% increase in the value of Canadian money.
# posted by 
: 1/03/2006 03:01:00 PM
: 1/03/2006 03:01:00 PM
It actually says this: "Farrill predicted the Canadian dollar will strengthen to C$1.10, or 90.91 U.S. cents, by the end of March."
That means 1 US dollar gets you $1.10 Canadian dollars, not the other way. I don't think it is really expected that the Canadian dollar will pass the US dollar by the end of the year (although, that is not to say it isn't possible).
That means 1 US dollar gets you $1.10 Canadian dollars, not the other way. I don't think it is really expected that the Canadian dollar will pass the US dollar by the end of the year (although, that is not to say it isn't possible).
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