Producers warn dropping dollar isn’t all good news for fishery

article currencyAmid all the doom and gloom about the economy, the price of oil and the provincial deficit, there’s a bright spot for Newfoundland and Labrador: the Canadian dollar has been tanking. The dollar dropped by more than 17 per cent from a 12-month high last May to a low of 68.69 cents last week. The exchange rate hurts any Newfoundlander going on a trip to Florida, but it helps in plenty of other ways. For one thing, the exchange rate helps soften the blow of abysmal oil prices for the provincial government, and it makes the province more attractive to American tourists who want to spend their greenbacks here. Read the article here 07:58

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