Canadian Money Exchange

Canadian money exchange has varied for years. The Canadian dollar floated for many years from 1950 to 1962. In this manner, the Canadian dollar was exchanged at a higher premium than the US dollar. Nevertheless, the Canadian money fell drastically after 1960 which forced the dollar to work on a fixed rate to prevent further depreciation. Once the Canadian dollar was stabilized, it was allowed to float again allowing it to reach high Canadian money exchange rates against the US dollar, even reaching a high of US$1.0443 on the Canadian money conversion rate.

Canada Versus the United States
The Canadian money exchange rate has always varied greatly against the United States dollar. In January of 2002, the Canadian dollar hit an all time low at less than 62 cents on the dollar. Fortunately, since then the dollar has risen. The Canadian economy rose drastically in 2007. The Canadian exchange rate was extremely strong against the US dollar because of the Canadian’s increasingly good economy and the US’s down spiral economy. In September 2007, the Canadian and United States’ Dollar was on par. In 2008, the Canadian dollar dropped once again but has seemed to level out since then.

Canadian Money Tendency
It is interesting since the Canadian money exchange usually moves simultaneously with the United States dollar. If the US dollar rises so does the Canadian. If the US dollar falls, the Canadian dollar also falls. Currently, Canadian money is the seventh most popularly traded currency.