Dramatic Changed Landscape of Toronto Currency Exchange Industry in Pandemic
Covid-19 hit hard on global economics and forced many industries to shrink or shift courses. As one of the most damaged business sector, currency exchange industry has suffered lock down, reduced hours and income, staff shortage and even close shops. Here is what happened for major Toronto currency exchange dealers. Ultimate Currency Exchange at Yonge and Eglinton shut down its Toronto branch in Sept. 2021. The direct reason was that the retail shop will be redeveloped as a condo project, but the true reason behind the scenes was people were not exchanging money for travelling at all. The foreign exchange dealer try to run on reduced hours but still cannot survive. Calforex in Sherway Gardens Mall was closed its operation in 2021. Calforex is one of the most famous Toronto foreign exchange dealer in Canada. The Sherway Garden Mall branch was opened just before Pandemic and did not have chance to build up enough clients to keep it open. Wall Street Finance was sold to Ebix Cash Wal