Moreover,
Worse exchange rate since 2018::
While many Quebecers are preparing to visit the old continent in the coming weeks for their summer vacation. Meanwhile, the value of the Canadian dollar has been at its lowest since 2018 against the euro.
During the last week, a Canadian dollar was worth as little as 0.62 euros according to the exchange rate of the Bank of Canada, a ratio never seen since 2018.
Compared, a Canadian dollar was worth 0.76 euros to such date in 2022, 0.69 euros in summer 2023 and 0.67 euros last summer.
Before 2018. Furthermore, you have to go back to 2008 to find such a disadvantageous exchange rate for Canadians, according to Yahoo Finance data.
It is therefore currently 1.60 Canadian dollars to support one euro.
This means that it is an item at a price of 10 euros costs $ worse exchange rate since 2018: 16 in Canadian currency.
The Canadian dollar has experienced a difficult year. especially due to the current trade war between Canada and the United States.
If its exchange rate has straightened up compared to the US dollar. it is the opposite compared to the currencies of the old continent, which remained resilient.
The value of the Canadian dollar in Book Sterling has also deteriorated in the past year.
If it took $ 1.77 to equip a sterling book in mid-July 2024, it now takes 1.84.
This rate has increased to $ 1.87 Canadian in recent days, according to data from the Banque du Canada.
The trade war with the United States does not bode well with regard to the exchange rate for the. coming weeks.
If Mark Carney had hope to agree with Donald Trump before July 19. the American president rekindled tensions by threatening to set up customs prices worse exchange rate since 2018: of 35% on August 1.
The Prime Minister also invited his cabinet on Tuesday morning to work on how to face this new threat.
Trump also threatened the European Union with customs surcharge of 30% for the beginning of next month.
Worse exchange rate since 2018:
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