Word: dollarize
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Dates: during 2000-2009
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...Canadian dollar hit its all-time high was not, in fact, Nov. 7, 2007. The pinnacle came more than 140 years earlier, when Confederate troops reached the outskirts of Washington, D.C., forcing Union soldiers to decamp from Virginia and defend their capital. The Canadian dollar that day was worth...
Some claim the Canadian dollar rose against the greenback because the U.S. dollar has been dragged down by government budget deficits, a long and costly war, and a yawning gap between the value of imports and exports. True enough. But the link between the loonie and the worldwide boom in commodities had even more to do with it. If you graph the value of the Canadian dollar with the prices of oil, natural gas, certain metals and grain, "it's pretty hard to tell which is which, down to every little squiggle," says TD Bank Financial Group chief economist...
...seem, then, that the loonie's $1.10 U.S. mark in November - merely its peak in generations - should not have elicited quite the cheers and fears it did across the country. Canadians, of course, are peculiarly obsessed with the U.S. dollar exchange rate: three-quarters of exports go to the U.S. and a comparable share of imports arrive from there. But America's Civil War is a reminder, if nothing else, that when currencies start breaking records, it's usually a sign that something big is happening...
...common loon, a black and white water bird with a tapered bill and a haunting call, became a symbol of Canada's money in 1987: the year Canada minted its first one-dollar coins with the now-iconic bird on one face. It is a fitting national emblem. The loon is found across much of the country, and moves impressively both in air and under water. Its aquatic skills in particular are so good that outside North America, the bird is known as the great northern diver...
Canada's currency did dive after the dollar coin was introduced - all through the 1990s and into the early part of this century. January 2002 was the bottom. At it's all-time low then, the Canadian dollar was worth just less than 62 U.S. cents. Recovery since then, dramatic and steady, began with something as dull as a rise in oil prices. With that, the laborious process of drawing viscous bitumen out of Alberta's oil sands became ever more viable. Massive shovels churned the earth, digging up the tons of sand needed to produce each barrel...