<P> The Canadian dollar's value against the U.S. dollar rose sharply in 2007 because of the continued strength of the Canadian economy and the U.S. currency's weakness on world markets . During trading on September 20, 2007 it met the U.S. dollar at parity for the first time since November 25, 1976 . </P> <P> Inflation in the value of the Canadian dollar has been fairly low since the 1990s . In 2007 the Canadian dollar rebounded, soaring 23% in value . </P> <P> On September 28, 2007, the Canadian dollar closed above the U.S. dollar for the first time in 30 years, at US $1.0052 . On November 7, 2007, it hit US $1.1024 during trading, a modern - day high after China announced it would diversify its US $1.43 trillion foreign exchange reserve away from the U.S. dollar . By November 30, however, the Canadian dollar was once again at par with the U.S. dollar, and on December 4, the dollar had retreated back to US $0.98, through a cut in interest rates made by the Bank of Canada due to concerns about exports to the U.S. </P> <P> Due to its soaring value and new record highs at the time, the Canadian dollar was named the Canadian Newsmaker of the Year for 2007 by the Canadian edition of Time magazine . </P>

Last time canadian dollar was at par with us