The surging of the Canadian dollar in value against the U.S. dollar has many in the film industry in Canada voicing concern that Hollywood producers may soon start looking elsewhere for cheaper foreign locations. A rapid Canadian dollar appreciation of 16% against the U.S. dollar in the past year has producers fearing a repeat of the mid-1980s when the Canuck dollar was valued at $0.80 and dampened film and TV production here. The Canadian dollar touched CAN$0.72 in value on Monday, a new five-year high as the U.S. dollar continues to slide on world currency markets. Ross Leslie, business manager for local 700 of the National Association of Broadcast Employees and Technicians (NABET), said Monday he knew of no Hollywood producers that had backed out of shooting here so far owing to the stronger Canadian dollar.
- 5/13/2003
- The Hollywood Reporter - Movie News
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