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Apr 19, 2011, 04:16 PM
#16
Junior Member
Hi Rostov,
Actually from the economics point of view, a strong (Canadian) currency may not always be a good thing.
Benefits: it's cheaper when you buy/import goods from overseas or when you spend money overseas (on tours etc). If your country imports goods heavily, this also helps to combat inflation rates.
Drawbacks: Canadian manufactured goods that are exported overseas will become more expensive - This means reduced demand for Canadian goods, lowered competitiveness, and businesses closing down leading to job losses.