This volatility increases the cost of 1 / 11  BIS central bankers' speeches  making international transactions and poses risks that have to be managed, especially by exporters and importers. Nonetheless, we come down squarely on the side that the benefits of a flexible exchange rate for Canada far exceed any such costs.
To facilitate easy opening of accounts especially for small customers, Know Your Customer (KYC) guidelines have been simplified to such an extent that small accounts can be opened without any documentation by just giving a self certification in the presence of bank officials.