The low Canadian dollar is good news for consumer spending numbers across the country.
That’s according to a report from Moneris.
Chief Product Officer Rob Cameron says the first thing the low dollar is doing is keeping Canadian money within the country.
“So with the low dollar, we’re seeing in the biggest three countries that travel to Canada are the United States, China and the United Kingdom, and all three countries showed really strong increases in the quarter, the United States leading the way at over 10% year over year growth,” says Cameron.
Cameron says Moneris has added a feature to their payment terminals allowing American tourists to see the price of their purchase in Canada in US dollars.
