Our Canadian dollar has seen highs this past week that have been unheard of in over thirty years.

On Thursday, the Canadian dollar broke over the American dollar at one dollar and zero zero 8 cents.

Ron Areshenkoff, certified senior advisor explains that the rise is generally good for the economy however, brings bad news to the manufacturing sector that sells products to the US, especially those exporting lumber.

Areshenkoff adds that the cause of the climbing dollar is largely related to the prices of commodities, more specifically the rising price of oil. If U.S. Interest Rates drop along with the oil prices, the general consensus would be that the Canadian dollar would drop as well.