BECKHAM
11-05-2013, 01:08 PM
Finance Minister Jim Flaherty said he hasn’t heard much concern from exporters about the strength of the Canada’s currency versus its U.S. counterpart.
“Not really,” Flaherty said, when asked in an interview with Bloomberg News about whether businesses have expressed currency worries. “I find that Canadian exporters, business people, have anticipated the dollar around par and have based their business plans around that.”
Canada’s dollar has gained 29 percent from its lows during the 2009 recession, and has averaged about C$1 per greenback, or parity, over the past two years, according to data compiled by Bloomberg. Exports, meanwhile, have yet to return to their pre-recession highs. The currency was trading at C$1.0124 at 11:58 a.m. in Toronto.
Flaherty made the comments in Aylesbury near London, where Group of Seven officials were meeting.
“Not really,” Flaherty said, when asked in an interview with Bloomberg News about whether businesses have expressed currency worries. “I find that Canadian exporters, business people, have anticipated the dollar around par and have based their business plans around that.”
Canada’s dollar has gained 29 percent from its lows during the 2009 recession, and has averaged about C$1 per greenback, or parity, over the past two years, according to data compiled by Bloomberg. Exports, meanwhile, have yet to return to their pre-recession highs. The currency was trading at C$1.0124 at 11:58 a.m. in Toronto.
Flaherty made the comments in Aylesbury near London, where Group of Seven officials were meeting.