Bet your bottom dollar
The value of Canada’s currency, languishing at an 11-year low against the US dollar, hasn’t exactly been a cause for seasonal celebration but there is a silver lining. US visitors keen to take advantage of such a favourable currency rate have surged across the border and helped buoy local economies. “British Columbia is one province that is doing better than many,” says Nick Exarhos, an economist at CIBC World Markets in Toronto. “They should continue to benefit from the weak [Canadian] dollar.” What’s more, Exarhos thinks the new year could see a turnaround for the country’s diminished manufacturing sector as demand for Canadian-made products picks up. “Over time it should help win back some manufacturing that went away,” he says.