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In Depth

The Canadian dollar

How the Canadian dollar compares around the world

Last Updated July 24, 2007

CBC News

By July 2007, the Canadian dollar had soared to highs not seen since the 1970s, at least against the U.S. dollar. But how is the loonie doing against other world currencies?

Generally, the Canadian media reports the value of the dollar against the U.S. dollar, and then the values of other currencies, also against the U.S. dollar.

It's just a reflection of an economic reality in Canada, says Brad Clark of CBC Radio's The Business Network.

"Since we do so much business with the U.S., that's the real benchmark for us," said Clark.

In July 2007, the loonie hit 96.6 cents US in afternoon trading. The dollar has not closed above that amount since 1977.

The Canadian dollar looked so strong in part because of the poor performance of the greenback.

"The U.S. dollar, in the case of the euro, is just about as weak as it's ever been," said Clark.

The Canadian dollar as compared to other currencies:

July 24, 2007

American dollar (courtesy Bank of Canada)
U.K. pound (courtesy Bank of Canada)
Euro (courtesy Bank of Canada)
Japanese yen (courtesy Bank of Canada)
Australian dollar (courtesy Bank of Canada)

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