Canadian dollar fall boosts banks’ FX profits
NEWS
TORONTO -- Canadian banks saw increased FX profits for full-year 2001, ending October 31 2001, spurred part ly by the weakening Canadian dollar.
The currency began the reporting year at C$1.500 per US$ on November 1, 2000, but by October 31 this year had slipped to C$1.577. With volatility in the G7 currencies dwindling with each year, the Canadian dollar’s movement threw up some excellent trading opportunities for Canadian banks, FX analysts said.
Toronto Dominion Securities reported trading
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