CANADIAN IMMIGRATION NEWS

Canada's dollar reaches 30 year high.

Thursday, 31 May 2007

The Canadian Dollar has been reaching 30 years highs over the past weeks, based on Canada's strong resource base and steadily growing economy.

Over the past weeks, the Canadian dollar has been reaching highs between 91 and 93 US cents - records it has not seen in over 30 years.

While this is partly due to the slowly slumping US dollar, the Canadian dollar's rise is primarily due to the robustness of the Canadian economy. Canada’s economy is projected to grow steadily over the coming years.

The meteoric rise of the Canadian dollar and rosy economic outlook have some economists openly talking about parity with the US dollar - meaning 1 Canadian dollar could buy at least 1 US dollar.

Foreign investors are expected to be highly attracted to the Canadian dollar, pushing its value up even further over the short-term.

As of 11:00am EST on May 31, 2007, CAD$1.00 buys USD$0.9349, and climbing.