Posted AT 4:57 PM EDT on 16/05/08
Loonie holds above par
The strong loonie, above par with the United States dollar Friday, is good news for Canadian consumers heading south of the border to shop on the holiday weekend – but the exchange rate will continue to pose a challenge for exporters.
The Canadian dollar opened at 99.92 cents, after briefly nudging above parity overnight, and quickly regained its ground, fuelled by record oil prices. It was trading at $1.0045 (U.S.) just before noon, the slipped to close the day at $1.0002.
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