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Sarnia

Low Loonie A Double Edged Sword

The president of the Sarnia-Lambton Chamber of Commerce says there's positives and negatives to take from the sharp decline of the Canadian dollar.

On Wednesday, the dollar was hovering near the 76 cents US mark, the lowest since September 2004.

Rory Ring says that will entice residents to shop local rather than across the border.

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Ring says a drop in oil prices combined with the Bank of Canada reducing the country's key interest rate has led to the weak dollar.

In the long term, he believes the oil market will recover and the dollar will level off.

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