Posted AT 4:27 PM EST on 19/09/07
Loonie tops 99 cents
The Canadian dollar topped 99 cents (U.S.) Wednesday on the back of surging oil and gold prices, a weakening U.S. dollar and as traders bet on the increasing likelihood of parity.
The currency rose as high as 99.18 cents, before closing the day at 98.50 cents following a report showing inflation at an eight-month low. The last time the Canadian dollar was at parity was Nov. 25, 1976.
The surge spells good news for Canadian travellers.
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