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September 20, 2007
CDN/USD Friday, November 26th, 1976
A little over thirty years ago -- Friday, November 26th, 1976, to be specific -- Gerald Ford was in the White House, Pierre Trudeau was on Parliament Hill in Ottawa, and the U.S. and the Canadian dollar were at parity. So what? Well, because today, midway through the day, the two currencies were, once again, however briefly, accorded the same value in exchange markets.Remarkable. And given interest rate differentials and general skepticism about the U.S. currency it almost certainly won't stop here.
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Sadly, they'll still dual-price 'em. And never realize that's why they're going out of business.
Also sadly, at least from someone living in beautiful B.C., I'm not sure I've heard of an up-side for us with the dollar-rising... Except for buying stuff off the internet cheaper :)
Maybe there's an arbitrage opportunity in buying books in the US and selling them in Canada?
Go team?
Three cheers for an end to the dual-pricing on bookstore books -- not that anyone buys them there anymore :)