Canadian dollar drops to 81 cents; could slow cross-border shopping

The Canadian dollar tumbled on Wednesday, Jan. 21, and that could mean fewer cross-border shoppers in Whatcom County.

In what many investors and economists consider a surprise move, the Bank of Canada lowered the benchmark interest rate target from 1 percent to 0.75 percent. This led to a weaker Canadian dollar, dropping to around 81 cents compared to the U.S. dollar. That’s down 5 cents from a month ago and down 13 cents since July.