Canadians last week enjoyed the mixed blessing of having the world's hardest currency. A brisk international demand pushed the dollar to an alltime high of $1.0611 U.S., bringing joy to Canadian importers, dismay to exporters, and concern to the nation's money managers.
Canada's dollar has always held close to the U.S. dollar -in value. Soon after Canada rejected the sterling system in 1853 to adopt a decimal-based monetary system, the government pegged its dollar on a par with the U.S. dollar. Later, Canadian money was freed to find its own level. In 1940 the dollar dropped to a low of...
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