By using this site, you agree to our Privacy Policy and our Terms of Use. Close
foxtail on 27 March 2015
Edit Thread
super6646 said:
Acevil said:


It is at 80 cents now. I will take a bit. It use to be at 78 Cents. Also don't think we will go higher than 90 cents from that alone. USA recovering is the other big factor. Remember it doesn't just depend on what Canada does, but it also depends on how much the USA does. 


Back in 02, it was at 61 cents. Many people forget that though!

A brief history of the Canadian dollar from 1950 to its peak of  $1.10 (U.S.) in 2007.

  • Mid-1950: Canadian dollar depreciates. The federal government cancels fixed parity, putting it at odds with the International Monetary Fund, and the Canadian currency appreciates.
  • Aug. 20, 1957: The Canadian dollar hits a peak of $1.06 (U.S.).
  • May 2, 1962: The government establishes a new par for the Canadian dollar, fixing it at 92.50 cents (U.S.) with a fluctuation band of 1 per cent.
  • May 31, 1970: The government floats the Canadian dollar amid a growing budget surplus and rising inflation.
  • April 25, 1974: The dollar hits a high of $1.04 (U.S.) against the greenback as global demand boosts the price of raw materials. The strength sparked fear about Canada's export industries at a time when the unemployment rate was already high.
  • Nov. 15, 1976: The Parti Québécois is elected, causing markets to "make a major reassessment of the Canadian dollar's prospects." At the same time, commodity prices start to soften, inflation picks up. By 1979, the currency slides to 84 cents (U.S.).
  • August, 1981: The Bank of Canada's key rate hits 21.2 per cent. By 1982, the dollar traded below 77 cents (U.S.).
  • Feb. 4, 1986: The Canadian dollar hits a record low of 69.13 cents (U.S.) as falling commodity prices hurt the economy.
  • 1988-1989: The currency rebounds somewhat to close the decade at 86 cents (U.S.).
  • 1990s: The currency weakens again, closing the decade at 69.29 cents (U.S.). Inflation and interest rates fall and commodity prices soften.
  • 1998: The international crisis in emerging markets such as Russia and Latin America causes the dollar to slide as low as 63.11 cents (U.S.).
  • 2002: The currency hits a record low of 61.98 cents (U.S.) on Jan. 18, 2002.
  • 2006: The loonie tops 90 cents (U.S.), prompting calls for parity. It then weakens for much of the rest of the year.
  • 2007: The loonie takes flight again. On May 31, it topped 94 cents (U.S.) - the highest level in 30 years. Later that year it hit parity in September. That fall the loonie hit its modern-day intra-day high of $1.10 (U.S.), and hit its highest closing price of $1.08 (U.S.) on Nov. 6, 2007.
source - CBC and the Globe and Mail