/R E P E A T -- Denis Durand, Partner at Jarislowsky Fraser Ltd, Pierre Fortin, Professor at UQAM, Department of Economics and Simon van Norden, Professor at HEC Montréal, Department of Finance, will be at the Canadian Club of Montreal's podium./

    Speech title: Canadian dollar / US dollar: Are we heading towards a
    fixed exchange rate?

    Monday, March 31, 2008
    Noon - 2 p.m.
    Fairmont The Queen Elizabeth Hotel,
    Grand Salon
    900, René-Lévesque Boulevard West, Montreal

    MONTREAL, March 27 /CNW Telbec/ - Many Canadians believe that a floating
exchange-rate policy has served Canada well in recent decades by allowing the
economy to adapt more readily to shifts in the U.S. economy, by far our
largest economic partner.
    But over the past 18 months, the Canadian dollar has risen dramatically
and experienced periods of extreme volatility, especially in recent months.
    This exchange-rate volatility may be due to factors such as changes in
commodity prices and the growing influence of speculators looking to profit
from currency fluctuations.
    Significant swings in the exchange rate force exporters and importers to
adjust quickly, as profit margins may expand and contract substantially from
one month to the next, creating new management challenges.
    Has the time come to mitigate the impact of volatility by setting a fixed
exchange rate? Should Canada even consider adopting the American dollar as its

    We look forward to the pleasure of welcoming you to this most interesting

For further information:

For further information: and Media Contact: Ginette Bergogne, Executive
Director, Canadian Club of Montreal, (514) 398-0457,

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