The loonie's will-it-or-won't-it flirtation with U.S. dollar parity over the past couple of years has pundits and patriots in a tizzy about what it all means. The dollar started the year flying high, and some currency-watchers predict it will go even higher. So, who gets a spring in their step when the Canadian dollar is soaring? And who can't wait for it to tumble?
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During the 2002 Winter Olympics in Salt Lake City, Canadian icemaker Trent Evans placed a loonie under centre ice. Although it was worth only 63 cents (U.S.), it spelled gold for the men's and women's hockey teams.
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"I wouldn't use the word 'comfortable.' Don't put the word 'comfortable' in our mouths."
Bank of Canada governor Mark Carney responds to the notion of a 96-cent dollar
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"There are always two absolutes: Winning is good, and it's always better when the Canadian dollar is stronger.''
Ken King, president of the Calgary Flames, who gets a break on players' U.S.
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"[Canadians]will see what the dollar value is [when]they're doing comparison shopping, and if the dollar moves a cent in a day, that could be their decision as to whether they buy or not.''
Darrell MacMullin, general manager of PayPal Canada
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"The Canadian dollar is like an aircraft carrier and you can't stop that on a dime - it's got a lot of momentum. It'll stop when one of your major exporters closes shop and says he can't compete any more.''
Dennis Gartman, author of the Virginia-based Gartman Letter , after the loonie topped 1.09 (U.S.) in November, 2007
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"My guess is [the dollar is]going to go above par and set new records. Every time the U.S. dollar weakens and the Canadian dollar strengthens, the oil price tends to go up. It's almost a bit of a natural hedge."
Marvin Romanow, president and chief executive of oil and gas producer Nexen Inc.
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"It won't be long before our loonie is worth more than the U.S. greenback. That may cause a certain nostalgic smugness among some old-timers who remember when 'a dollar was a dollar.' But it's unequivocally bad news for our economy."
Jim Stanford, economist, Canadian Auto Workers
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$174 billion
Canadian dollars cleared daily through the country's bank-payment system
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Residents of the French territory Saint-Pierre and Miquelon use both the Canadian dollar and the euro as everyday currencies. It's the only foreign territory that uses Canadian dollars
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77
Percentage of Canadians in a 1999 survey who believed Canada and the U.S. would share a common currency by 2019
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$115 billion (U.S.)
Value of Canadian and U.S. dollars exchanged on a daily basis in 2007
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who likes a high dollar?
Food Retailing
Importing food will be cheaper, but savings won't necessarily be passed on to consumers
Forestry
More than 70% of Canadian exports head south, and so will profits
Manufacturing
A one-cent increase in the Canadian dollar versus the greenback equals a $2-billion loss in sales
Autos and Auto Parts
As the cost to produce vehicles in Canada goes up, imports become more competitively priced
Oil and Gas
The benefits of cheaper imported machinery are wiped out if crude prices (which are pegged to the U.S. dollar) go down
Metals and Mining
If the dollar rises in concert with commodities - as is often the case - higher costs are likely offset by less expensive machinery and other inputs
Retail
The benefits of less-expensive imports may be overridden by competitive pressures to pass on savings to shoppers
Sources: the Bank for International Settlements; Angus Reid; Canadian Manufacturers and Exporters Association