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Canadian dollar coins, or Loonies, are displayed on a map of North America Thursday, January 9, 2014 in Montreal.
Canadian dollar coins, or Loonies, are displayed on a map of North America Thursday, January 9, 2014 in Montreal.
(Paul Chiasson/CP)

Who does a cheap loonie help? Not who you think

The causes and effects of the Canadian dollar’s depreciation are often poorly explained.

No matter how many times Bank of Canada Governor Stephen Poloz says the most import thing for Canadian exporters is U.S. demand, and a weaker currency is only “icing on the cake,” it’s the icing that gets all of the attention.