ANALYSIS BY: DAN DONATO
A decline in oil prices, Canadian banks being downgraded by Moody's, and uncertainty around global trade have led to a plunge in the Canadian dollar. Good for our exports? Yes. But not so good for Canadian consumers.
Notes: The Canadian-Dollar Effective Exchange Rate Index (CERI), calculated by the Bank of Canada, is a weighted average of exchange rates of the Canadian dollar against its major trading partners. There are six foreign currencies included in the index: the U.S. dollar, European Union euro, Japanese yen, U.K. pound, Chinese yuan, and Mexican peso. The lines in the chart show the index level from Jan 2 to May 18, 2017.