Foreign Exchange Rate Risk.
Effects of foreign exchange rates in commerce.. how to minimize it narrate in short story... ;)
Canadian dollar declines as jobless rate unexpectedly rises
Canada’s dollar dropped against most of its major counterparts after a government report showed the jobless rate unexpectedly increased in October as the nation’s employers eliminated positions.
The Canadian currency slid for the first time in three days versus its U.S. counterpart on reduced demand for risk after Germany’s Chancellor Angela Merkel said Group of 20 leaders were unable to agree on International Monetary Fund resources. The Canadian dollar headed for its first weekly decline since September on increased speculation the Bank of Canada will lower borrowing costs following the jobs report.
“It’s a miss in a very meaningful way,” said Jack Spitz, managing director of foreign exchange at National Bank of Canada in Toronto, in a telephone interview. “This is likely to contribute to some Canada lagging.”
The loonie, as the Canadian currency is nicknamed for the image of the aquatic bird on the $1 coin, depreciated 1.2% to $1.0193 per U.S. dollar at 11:09 a.m. Toronto time, extending its weekly drop to 2.7%. It touched $1.0229, the weakest level since Oct. 20. One Canadian dollar buys 98.16 U.S. cents.
foreign exchange rate risks - News
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