It allows you to hire better quality of artists in many areas, acting, you know, in your wardrobe, and we spend more money on visual effects here because of having more money available. Producer Peter Bogart brought his crew to Canada to take advantage of the exchange rate. And I know people who don't think about shooting in the United States anymore. Twenty years ago the Canadian dollar was worth about the same as the US dollar. Then its value began to drop, reaching a low this summer of about 63 cents.
Economists say it's fallen because Canadian industry has become less competitive.
They blame some of Canada's industrial infrastructure, which they say is outdated and inefficient. Combined with high wages, that makes Canadian products expensive to manufacture. With 80 percent of the country's exports coming to the US and having to compete against American products, Canada has had to, in effect, discount its goods by lowering the value of its currency. Canadian economist David Bond. The only way we could continue to sell goods to the United States was to take less American dollars for the same amount of goods, which means that the Canadian dollar was falling in value effectively.