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Low Canadian Dollar not all Bad in the North

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Northern residents may be surprised by how the low-trading Loonie is affecting communities.

The Loonie is currently trading at around 75 cents on the US Dollar.

The low Canadian dollar affects mostly international travel.

Yves Labelle from the Kapuskasing EDC says it’s an advantage for one business in the area.

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He says since the Tembec mill in Kapuskasing exports to the US, the lower trading dollar helps the mill compete financially.

 

Labelle says the Canadian dollar is tied very closely to oil prices, which are also at a low.

The price at the pumps in northern communities has only recently begun to drop.

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