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Loonie sinks as Bank of Canada cuts borrowing c

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Loonie sinks as Bank of Canada cuts borrowing costs again


Business | 206570 hits | Oct 21 2:50 pm | Posted by: tritium
13 Comment

The loonie retreated in the wake of the cut, tumbling to close 82.39 cents US in afternoon trading on currency markets. The dollar has not closed that low since August 2005.

Comments

  1. by avatar tritium
    Tue Oct 21, 2008 9:57 pm
    We are on our way to the Canadian Peso. ROTFL

  2. by avatar mixedfarmer
    Tue Oct 21, 2008 10:11 pm
    "tritium" said
    We are on our way to the Canadian Peso. ROTFL

    woohoo

  3. by avatar Toro
    Tue Oct 21, 2008 11:13 pm
    The loonie is worth about 80 cents. Its just falling back to fair value.

  4. by avatar Robair
    Wed Oct 22, 2008 2:03 am
    Drop baby drop. I don't shop down south, but my company sure likes to sell there.

  5. by avatar dog77_1999
    Wed Oct 22, 2008 2:10 am
    I still remember that week it was at $1.09 for 1 Loonie.

  6. by avatar Canadaka
    Wed Oct 22, 2008 6:22 am
    damnit, i was going on a vacation in the US this spring! Grrr.
    But my 10grand US is worth more in Canadian now, woohoo!

  7. by avatar Bacardi4206
    Wed Oct 22, 2008 6:23 am
    "Canadaka" said
    damnit, i was going on a vacation in the US this spring! Grrr.
    But my 10grand US is worth more in Canadian now, woohoo!


    You rich SOB

  8. by avatar 2Cdo
    Thu Oct 23, 2008 9:22 pm
    "Bacardi4206" said
    damnit, i was going on a vacation in the US this spring! Grrr.
    But my 10grand US is worth more in Canadian now, woohoo!


    You rich SOB

    You and I have very different ideas of rich. :lol:

  9. by avatar RUEZ
    Thu Oct 23, 2008 9:38 pm
    It wouldn't surprise me if companies start jacking up prices and using this as an excuse. It won't do manufacturing much good since our biggest customer is in the poor house.

  10. by avatar RUEZ
    Thu Oct 23, 2008 9:55 pm
    If it stays low for any amount of time this is going to be bad news for our Canadian NHL teams again, since salaries are paid in U.S. dollars.

  11. by avatar mixedfarmer
    Thu Oct 23, 2008 10:32 pm
    good news and bad news. bad news markets suck right now but good news for selling cows as prices went up because of the low dollar. grain may be different if asia and india currency falls

  12. by avatar dog77_1999
    Fri Oct 24, 2008 1:07 am
    "RUEZ" said
    If it stays low for any amount of time this is going to be bad news for our Canadian NHL teams again, since salaries are paid in U.S. dollars.


    That's good. Went they convert back to Loonie they'll get more money.

  13. by avatar RUEZ
    Fri Oct 24, 2008 1:13 am
    "dog77_1999" said
    If it stays low for any amount of time this is going to be bad news for our Canadian NHL teams again, since salaries are paid in U.S. dollars.


    That's good. Went they convert back to Loonie they'll get more money.
    I'd be more concerned about the teams paying salaries in U.S. dollars but collecting ticket revenue in Canadian dollars.



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Who voted on this?

  • tritium Tue Oct 21, 2008 1:56 pm
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