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You have just received good news. You have a
rich uncle in France who has decided to give you a monthly annuity of €2,000
per month. You are concerned that you will become accustomed to having these
funds, but if the currency exchange rate moves against you, you may have to
make do with less.
you are living in Canada, what does it mean for the currency exchange rate to
move against you?
moving to France mitigate some of the risk? If so, how? If not, why not?
C. If you want to stay in Canada, and your
grandparents, who have retired to Provence, receive a Canadian pension of
C$1100 each, what could you do to reduce the risk for all of you?