The rise in our Canadian dollar has helped the NHL, especially our Canadian teams. This comes from the New York Times.
The rising Canadian dollar is nearing parity with its United States counterpart. The Canadian dollar, whose value against the United States dollar fell to a low of 62 cents in 2002, is worth about 96 cents today. As a result, the revenues for the six Canadian clubs helped the entire league earn its highest operating profit in more than a decade, according to Forbes magazine.
So for some the higher Canadian dollar is not a good thing like for instance our manufacturing industry is suffering but for others there are benefits. It's a tough balancing act. It would be nice if there was a point in the value of our dollar where all would benefit but where is that point?
I concur. Here is an economist hockey fan's view on Canadian Dollar; A Love Story
ReplyDeleteA strong Canadian dollar certainly helps the team in Hamilton. We just need to get an NHL team in Toronto.
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