One Dollar = One Loonie
The Canadian dollar—nicknamed the “loonie,” after the water fowl depicted on its reverse—recently reached parity with the U.S. dollar for the first time since 1976. That is, one loonie could purchase one U.S. dollar. Although there is nothing special about a price (an exchange rate) equal to one, the recent decline in the Canadian/U.S. dollar exchange rate will affect economic decisions.
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