Canadians welcome the strength in the C$ but many doubt that it will change their investment decisions, shows a survey released Friday.
The C$ first reached parity with the US$ on Thursday, for the first time since 1976, and remained there Friday.
“Canadians also do not appear to be in any great hurry to alter their investment decision making as a result of the rising dollar,” said a statement from Harris/Decima Research, which conducted the survey for Investors Group between Sept. 4 and Sept. 13, while the C$ was advancing towards parity.
“Forty percent of those with an investment portfolio are not sure the strong C$ will change their investment decisions in any way.”
Travelling and shopping, however, will be affected.
The survey of 2,055 Canadians shows 44% will take more vacations outside Canada, and 41% say they will be able to stay away for a longer time on vacations.
As well, 29% of those surveyed said they will cross the border into the U.S. more often for shopping and entertainment.
What’s ahead for the C$?
One in three Canadians expect the currency to stay at 90 cents US or higher for between one and two years, while 22% say it will stay high for the next three to five years. An optimistic 17% see a powerful dollar for five years or more.
C$ at parity won’t alter investment choices: survey
- By: IE Staff
- September 23, 2007 October 31, 2019
- 12:32