The US dollar falls, the Canadian dollar rises
While we’re thinking about the topic of exchange rates, here’s a piece from CBC News on the other side of the falling US Dollar: the rising Canadian Dollar.
A Canadian dollar closer to parity with the US is better for Canadian consumers because it means US-made goods and services are cheaper, and vacations to the US are less expensive.
But more isn’t necessarily better. Canadians manufacturers pay a price when the Loonie rises, and exports to the US feel the impact. The Canadian Manufacturers and Exporters, a lobby group, reports Canadian firms that export goods lose about $2 billion in sales with each one per cent rise in the value of the Canadian dollar.
