BUSINESS

US And Canadian Dollars Equal In Value For First Time Since 1976

03/28/2008 02:45 am ET | Updated May 25, 2011

The Canadian dollar has reached parity with the U.S. dollar for the first time since 1976. They are now equal in value. The euro also soared to its highest-ever level against the dollar, trading above $1.40 for the first time since the currency was introduced in 1999.

So why is the dollar plunging, and what impact does that plunge have on U.S. and world markets? Here's a look at some of the reasons for the dollar's fall, and the consequences

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