Us Currency

CURRENCYS STRENGTH WILL DEPEND ON U.S. RECOVERY, MARTIN SAYS Alan Toulin         The Canadian buck disagreeable at $62.94US a go into suffering. The Minister of Finance, capital of Minnesota Martin express that, The fundss vividness go forth depend on U.S. recovery and that the recovery in the unite States will boost the miserliness and our currency. The $62.94US conclusion breaks the outlive record of a close of $63.09US which was set on sublime 28, 1998 cod to a financial crisis in Asia. However, Paul Martin stated that the economy is basically sound and that the Canadian economy is stronger and then most other countries.         Paul Martin stated that he is mostly concerned with the economic recovery in the United States because it is that that will have an impact on our currency. The Canadian long horse closed at a record low and it this instant takes rough $1.59 to buy an American dollar, not including foreign intercha nge charges. umpteen investors fear the economic insecurity which caused investors to escape the loonie due to reeking prices in gas, mineral oils and Canadas lumber. Chief economic expert at CIBC World Markets, Jeff Rubin, say he expects the loonie to reach almost $0.61 by the end of the year. A TD Bank economist said that Canadas economy will most likely assert worse as rate profits fall and more layoffs argon introduced.         However, an economist at Informetrica Ltd.

Said that the weak currency is not such a bad thing. The low dollar assists implication and export competing firms an d discourages consumers from buying foreign ! products or taking vacations overseas. A reoccurring debate is likely to occur due to the low Canadian dollar which would implement the possibility of a car park coupling American currency, which has been rejected before, but some expression that this system would stabilize the Canadian currency.         Unemployment results may cause the... If you motive to get a full essay, order it on our website: OrderCustomPaper.com

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