COMMERCE 4SA3 Study Guide - Midterm Guide: Redenomination, French Franc, Canadian Dollar
7 Aug 2020
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Indeed, the notion of common currencies among countries is hardly unknown. Europeans are doing it with the euro, folding such mighty currencies as the french franc and the german mark. All governments want to retain sovereign right to control monetary policy. But the best argument would be if europe succeeds and there are benefits to commerce and trade. That would make it a compelling argument for north america. The woebegone canadian dollar has been setting record lows on an almost daily basis, closing trading at . 28 in june 2018. This is already bad news for travellers heading south and could soon cause rising prices here and even an economic downturn, some analysts say. "it falls into the category of preposterous stuff that gets raised in these kinds of circumstances," a senior liberal government official said yesterday. There would be huge costs for canada in adopting the american dollar, u of t"s dungan said.
