Industries Can Cope with High Dollar: Think-Tank

Josh Pringle
Monday, March 15, 2010

The Conference Board of Canada suggests the loonie reaching parity with the US dollar may not pose as great a danger for Canadian industry as many assume.

A new report says that while a strong loonie does harm some industries, many have found ways to hedge against fluctuations and can even derive benefits as well.

The think-tank says Canada’s manufacturing sector has mostly internationalized its operations and hence is able to guard against a strong currency.

The conference board does say the transportation and warehousing industry, retail, and the information and cultural industries are most impacted by the strong Canadian dollar.