How is the price of goods affected as the price of the Canadian dollar increases in terms of foreign currency?

Name: How is the price of goods affected as the price of the Canadian dollar increases in terms of foreign currency?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When the Canadian dollar increases in value compared to foreign currencies, it means Canadians have more purchasing power abroad. Therefore, foreign goods become cheaper for Canadians, as they need to spend less of their own currency to buy the same amount of foreign goods.

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