Loonie reaches parity with U.S. dollar; Whatcom County retailers could benefit

The Canadian dollar finished exactly at par with the U.S. dollar Wednesday, Nov. 10, good news for Whatcom County retailers heading into the holiday shopping season.

It's the first time the currencies have reached parity or above since April.

The recent rise in the loonie reflects increased prices for natural resources, such as oil, as well as a stronger Canadian economy, said Steven Globerman, a professor at the Center for International Business at Western Washington University.