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Nation currency affect the nation net exports

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Reference no: EM133302217

Changes in the value of a nation's currency affect the nation's net exports and GDP.

Canada trades extensively throughout the world and there are many Nova Scotian companies trading internationally. The US dollar is the world's dominant currency. Imagine you work for a Nova Scotian company that exports to many diverse countries. Today you are shipping two orders: one with a USD1000 invoice value to the US and the second order valued at €1000 shipment to France. (€ = Euros) You will be paid in 30 days by the customers.

Today, determine on day one, the shipping day, how much those invoices convert into CAD, so you know what you will expect to see in 30 days. What is the exchange rate?

Today calculate, USD to CAD and € to CAD.

Monitor the exchange rate on a weekly basis to assess the CAD currency values.

What are they? You will note, weekly, what the exchange rate is and the value of your USD1000 in CAD and €1000 in CAD.

Include in your assignment: the exchange rates from Weeks 1, 2, 3 and 4

At the end of the month (30 days), you will receive the wire transfer payments of USD1000 from your

US customer and €1000 from your customer in France.

1. What did you receive from your US customer when converted to CAD?

2. What did you receive from your customer in France (€) when converted to CAD?

3. Did you gain, or lose CAD based on the conversion you did on day one?

4. What are some factors that would affect the change of currency?

Reference no: EM133302217

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