• BITCOIN 956.436 13:00 26.03
  • TEL AVIV 35 1403.700 13:00 26.03
  • BITCOIN 956.436 12:00 26.03
  • TEL AVIV 35 1404.860 12:00 26.03
  • TADAWUL 6874.880 11:20 26.03
  • BITCOIN 956.436 11:00 26.03
  • TEL AVIV 35 1409.990 11:00 26.03
  • BITCOIN 956.436 10:00 26.03
  • TEL AVIV 35 1409.990 10:00 26.03
  • DUBAI 3463.090 10:00 26.03
  • DUBAI 3463.090 09:30 26.03
  • KUWAIT 7033.250 09:20 26.03
  • BITCOIN 953.319 09:00 26.03
  • TEL AVIV 35 1408.570 09:00 26.03
  • DUBAI 3458.140 09:00 26.03
  • TADAWUL 6888.660 09:00 26.03

USD/CAD

USD/CAD: The U.S. Dollar and The Canadian Dollar

The USD/CAD (with the USD as the Base Currency and the CAD as the Quote Currency) is the currency of Canada, which is controlled and administered by the Bank of Canada, which was established in 1934. Nicknamed the ‘Loonie’, the Canadian Dollar ranks 7th in foreign exchange daily turnover.

History of the Canadian Dollar

In April of 1871, the Canadian Parliament replaced all Canadian Province currencies with the Canadian Dollar, passing the Uniform Currency Act.

The Canadian Economy

Ranked as the 14th largest Global economy, Canada has a GDP estimated at $1.90 Trillion, dominated by International trade and the service industry. It’s major export goods are aircraft, chemicals, crude petroleum, natural gas, electricity, fertilizers, industrial machinery, metals, motor vehicles, timber and wood pulp, and telecommunications equipment.

Major import goods are chemicals, crude oil, durable consumer goods, electricity, machinery and motor vehicles.

Factors Affecting the USD/CAD currency pair

Commodity prices, especially natural resources, impact heavily on the Canadian dollar exchange rate. The Canadian and U.S. Economy are heavily inter-related as the US is Canada’s largest trading partner. Therefore, any US Central Bank Federal Reserve policies, and all political events affect the Canadian Dollar.

Main export partners
United States 72.8%
EU 5.3%
UK 4.5%
China 4.4%
Germany 3.5%
Israel 3.5%

Main import partners
United States 51.2%
China 10.7%
UK 6.2%
Japan 6.2%
Mexico 5.3%
South Korea 4.4%

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