Good and bad to low loonie

The Canadian dollar seems poised to both make the news and drop.

This January, the dropping Canadian dollar has been dominating the news.

It seems poised to continue to do both (make the news and drop) into the next few months of the new year.

For those travelling outside of the country, it sucks. There’s really no other word for it.

The Euro and the American dollar are both considerably higher, which means we don’t get much for our money overseas, or south of the border.

But there are undeniably opportunities as well.

More budget-conscious Canadians may take the opportunity to look at what’s available for them here at home. Hopping over the border for shopping doesn’t look so tempting anymore.

And tourists from other places face the opposite of what Canadian travellers do in terms of value for their money.

That can only bring in more foreign currency to our economy.

There is also an opportunity for our farmers.

We’ve been hearing dire warnings about the future price of various fruits and vegetables with California in the midst of a multi-year drought.

Now the rubber is meeting the road, with the advent of $6 or $7 prices for a head of cauliflower.

The prices being charged by our local small farmers suddenly don’t look out of the way at all anymore.

And there are all the other benefits of buying fresh, local food as well.

In fact, our low dollar creates a great reason to buy local on a lot of levels.

Black Press

 

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