USD/CAD
USD/CAD is the abbreviation for the United States Dollar and the Canadian Dollar exchange rate. It is the rate at which one currency can be exchanged for another. The USD/CAD rate is an important indicator of the relative strength of the two currencies and is used by traders, investors, and businesses to make decisions about investments and transactions.
History of USD/CAD
The USD/CAD rate has been in existence since the early 1970s, when the Canadian dollar was first floated against the US dollar. Since then, the rate has fluctuated widely, reflecting the relative strength of the two currencies. In the early 2000s, the Canadian dollar was at its strongest against the US dollar, reaching a high of 1.62 in 2007. Since then, the Canadian dollar has weakened against the US dollar, reaching a low of 0.91 in 2020.
Comparison Table
| Year | USD/CAD |
|---|---|
| 2000 | 1.45 |
| 2007 | 1.62 |
| 2020 | 0.91 |
Summary
USD/CAD is the exchange rate between the United States Dollar and the Canadian Dollar. It is an important indicator of the relative strength of the two currencies and is used by traders, investors, and businesses to make decisions about investments and transactions. The rate has fluctuated widely since the early 1970s, reaching a high of 1.62 in 2007 and a low of 0.91 in 2020. For more information about USD/CAD, you can visit websites such as Investopedia, Bloomberg, and the Bank of Canada.
See Also
- EUR/USD
- GBP/USD
- AUD/USD
- NZD/USD
- USD/JPY
- USD/CHF
- USD/MXN
- USD/INR
- USD/HKD
- USD/SGD
