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The dollar is back - at least in Canada
Message
De
10/10/2008 19:57:52
 
 
À
10/10/2008 19:25:21
Information générale
Forum:
Politics
Catégorie:
Autre
Divers
Thread ID:
01354063
Message ID:
01354268
Vues:
18
>>>>If there is a God somewhere it sure hate my guts. Is not only that I never win a darn thing but also when I needed the Canadian dollar to be low for I had U$S dollars for I sold a property in Argentina and wanted to buy here, the Canadian dollar was at record highs. Now that I go to Argentina on vacation so I need it to be strong... is sinking fast....
>>>
>>>Murphy's law?
>>
>>The Canadian dollar fell nearly five cents against the U.S. dollar to a low of 82.41 cents US Friday, but rebounded at close to 84.69 cents US.
>
>That's the most perplexing issue of the current momentum. Despite all printing presses working in 24/7 mode, the only item in shortage is the US dollar. Canadian dollar actually fares much better than almost every other currency.

Part of the reason may well be because of the World Economic Forum report on the worlds banking systems:

In the midst of a global market crisis, a survey by the World Economic Forum has proclaimed Canada to have the world's soundest banking system.

Placing just behind were Sweden, Luxembourg, Australia and Denmark in the World Economic Forum's Global Competitiveness Report, released on Wednesday in Switzerland.

Twelve-thousand corporate executives around the world were interviewed on a number of questions and ranked banks around the world on a scale of one to seven -- one being insolvent and possibly in need of government assistance and seven being entirely healthy.

Canada's banking industry, led by Royal Bank, CIBC, Scotiabank, TD Bank, Bank of Montreal and National Bank, was given a rating of 6.8, the best ranking of any banking system in the world.
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