Canadian Dollar Surges, Thanks to Oil Stores
by Richard Reynolds
The Canadian dollar, nicknamed "the Loonie," has been soaring over
the past six months, reaching a 13-year high Monday. Among the
factors in the currency's rise: Canada's status as an oil producer.
Analysts: Canadian Dollar could approach parity
with the US dollar within a year?
In the Last week the Canadian Dollar hit its highest level since 1992.
The climb has been boosted by soaring energy prices. The Canadian
currency has risen almost 40 percent in the past two and a half years,
and over ten percent in just the past four months. One of the reasons
for the increase is because the Canadian dollar is now considered a
petro Currency.
[NPR Audio]
