Video Post

The following is a news video made by a French television channel in Quebec. It talks about the increasing value of the dollar and about the convenience of changing canadian money into american money.

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I could not post the video due to technical problems with the site. Sorry for the inconvenience.

There are not really any opinions shown in this video so it is totally bias neutral. The video was made by a news channel that has a very good reputation and a lot of credibility. They are only showing the facts and helping people take good decisions not to lose money.

At first, they exchange 100 Canadian dollars in a bank. Because of the high interest rates, they receive 99 US dollars. Then, they go in a specialized currency place and they get 101 US dollars for 100 Canadian dollars. The same situation is present in the United States. This little experiment is very relevant to my topic because any tourist will need to exchange his money in order to come to Canada.

The value of the dollar is already causing less American tourists to come visit Canada, and the fact that banks and exchange places take even more money off of them does not help the situation at all. At the end of the video, they mention that the smartest thing to do for a Canadian when traveling to the US is to use a credit card as much as possible because these companies charge less for converting money and it is a safer way to pay. I believe that this is definitely the best alternative, but everybody needs cash money at some point, especially during a trip. Therefore, it is only logical to believe that the high conversion rates charged by banks will not help tourism in Canada.

Thanks for reading.