"Collecting Foreign Currency Debts in British Columbia: An Examination of the Foreign Money Claims Act", National Creditor/Debtor Review, June 2011
Date:
June 1 2011
In this article, Salim Hirji discusses foreign currency debts in British Columbia and the Foreign Money Claims Act.
In the last three years, the Canadian dollar has seen a great deal of volatility — in the Spring of 2008, the Canadian dollar was on par with the U.S. dollar, and competitive against other major currencies such as the British Pound and the Euro. Six months later, as the global financial system began to show serious signs of weakness, the value of the Canadian dollar quickly slid to 77 cents U.S. Today, the Canadian dollar hovers within five cents of the U.S. dollar.
Reproduced with permission of the publisher from National Creditor Debtor Review, Vol. 26, No. 2, June 2011.
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