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The Fluctuation of the Canadian Dollar
Many Canadians love the higher value of the Canadian money. Products imported from the USA become cheaper, and when Canadians travel to the USA, they can buy more for their money. The manufacturing sector, especially the automotive sector, depends on our export markets, mainly the USA, to buy their products. If the USA does not buy our product because of the value of our money, then the Canadian worker is the one who suffers the most. Every time Canadian money rises in value, Canadian manufacturers loose money. When they don’t make enough money, the Canadian workers won’t either. And the Canadian economy as a whole suffers. For me personally Canadian money higher in value makes the products I buy online in the USA a lot cheaper. But when I look at the whole picture, I am happy that our loonie is around par right now. I am sorry for the Canadian “snow birds” who spend their winter and Canadian pension money in Florida, but I am a Canadian and for Canada as a whole, a Canadian dollar worth 10 % more than the American, is devastating. I can live with a "loonie" being at par, or even slightly below par with the USA.
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The value of the Canadian Dollar has been going up a lot in the last few months. Is this good or bad for the Canadian economy?
