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The Canadian Dollar has undergone major fluctuations over the past number of years. The CAD to USD exchange rate is always a topical pairing.
The Canadian Dollar is pegged to the US dollar, meaning that when one currency rises in value against another, it will also change in relation to other currencies. One of the causes for this drop can be attributed to rising oil prices and a weaker economy as Canada’s GDP shrank over the last few years. In addition, demand from China has fallen due to their slowing economic growth – they are not importing goods as before. This decrease in demand led people around the world who had invested heavily in CAD looking for opportunities elsewhere; likely contributing significantly to its recent decline.
We have seen a noticeable decline of the Australian Dollar and New Zealand Dollars against the US Dollar.
There are many factors that contribute to changes in exchange rates – such as central bank interest rates or other economic indicators – from one country to another. A few examples include:
- Changes in demand for goods produced domestically can change prices relative to exports like oil and gas
- Changes in supply (or availability) of foreign capital can trigger an appreciation if too much investment goes into Canadian assets
- A weaker Canadian economy could lead investors who prefer stability away from CAD and possibly towards USD or Gold
Historically, the Canadian Dollar has been worth more than the US Dollar.
The first Canadian Dollar was printed in 1818, with many more milestones for circulation and denominations happening in the 1850s and 1860s.
Exchange Rates to Canadian Dollars ( CAD – CA$ ) from
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Exchange Rates Canadian Dollars CAD
|CAD to USD||USD to CAD|
|CAD to EUR||EUR to CAD|
|CAD to MXN||MXN to CAD|
|CAD to GBP||GBP to CAD|
|CAD to INR||INR to CAD|
|CAD to YEN||YEN to CAD|
|CAD to CNY||CNY to CAD|
|CAD to AED||AED to CAD|
|CAD to AUD||AUD to CAD|
|CAD to NZD||NZD to CAD|