Loonie Averages Above Parity in 2011

The last time this happened, Trudeau was prime minister.

In 2011, the loonie averaged above parity with the U.S. dollar for the first time in 35 years. The Canadian dollar was at its highest annual value since 1976, averaging 98.92 Canadians cents per U.S. dollar. The loonie is ending the year at $1.0213 compared with the U.S dollar, compared with 99.8 in 2010. Canada also had its highest ever closing compared with the euro, thanks to Europe’s sovereign-debt crisis and Canada’s reputation for economic stability. With a triple-A credit rating, a net 17,500 jobs created in December, and a prediction that Canada will be at parity with the U.S. dollar at the end of next year, Canadians have a lot to celebrate in the new year.