Interest rates, inflation, trade balances, and geopolitical events have affected the Canadian Dollar (CAD)-US Dollar (USD) exchange rate. A brief history of the CAD to USD exchange rate:
The CAD fluctuated against the USD due to oil price shocks, inflation, and economic policies in the 1970s and 1980s. The CAD was weaker against the USD during this time.
1970s to 1980s:
CAD volatility persisted in the 1990s and early 2000s. Exchange rates fluctuated due to commodity prices, particularly oil, and monetary policy. CAD-USD strength and weakness alternated.
1990s–2000s early:
Due to rising commodity prices, particularly oil, and a strong Canadian economy, the CAD strengthened against the USD to parity and briefly traded above the USD in the mid-2000s before the global financial crisis in 2008.
3. 1983 UK New Pence 2p Coin
After the 2008 financial crisis, the CAD fluctuated but remained close to parity with the USD for several years due to global economic uncertainty and commodity price fluctuations.
Post-2008 Financial Crisis:
The CAD fluctuated against the USD in the 2010s due to commodity price changes, Bank of Canada and Federal Reserve interest rate changes, and global trade dynamics.
2010s:
The COVID-19 pandemic, oil price fluctuations, and global economic trends kept the CAD volatile in the early 2020s. As economies recovered and commodity prices fluctuated, the CAD moved against the USD.
2020s:
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