The Canadian dollar is the official currency of Canada. For a
brief time in October 2007, the Canadian dollar became slightly
more valuable than the American dollar for the first time since
1976. The increase in the value of the Canadian dollar is in
part due to a decrease in the value of the American dollar, and
in part because of Canada's strong economic performance. The
Canadian federal government has consistently run large, net
surpluses of tax revenues over expenditures since 1998, and is
paying down their national debt (currently still at 457 billion
Canadian dollars). The value of the economy also grows because
of their wealth of natural resources, including oil and
minerals. This appreciation of the dollar has caused
difficulties for the manufacturing areas of the economy. The
Canadian dollar has stayed relatively steady against the euro
and other major currencies, while the US dollar has fallen. A
Canadian one dollar coin is commonly known as a "loonie" because
the reverse side of the coin features a