From 2009 to 2012,many Canadian companies that sell a lot overseas experienced declining profits due to the:

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When a country's currency appreciates, its products become more expensive to foreign buyers, which leads to a decline in exports and ultimately a decline in profits for companies that rely heavily on selling overseas. Therefore, the appreciation of the Canadian dollar from 2009 to 2012 likely contributed to declining profits for Canadian companies selling abroad.

From 2009 to 2012,many Canadian Companies That Sell a Lot