Once referred to as the Canadian Peso, the Canadian dollar is gaining ground against the US dollar. On July 27, it closed at just under $0.94 USD. Its only a matter of time before the Canadian dollar is worth more. Why is the US dollar losing value against almost all international currencies? Should the blame be placed on President George Bush?
The US dollar is doing poorly against many other currencies, including the Euro and the Pound. The average Canadian may be proud of the results last Friday, but those who do business in American dollars won’t be joining their party.
All of the affiliates I use in my online ads pay me in US dollars. The buying power is less when the currencies are close to each other like this in value. Below is a chart comparing the value of the Canadian dollar versus the US dollar over a period of 5 years. It shows the Canadian dollar going from less then $0.65 USD to around $0.94 USD. It doesn’t take an economist to see that the Canadian dollar will be worth more than the American dollar soon. The last time the our dollar was worth more was in April 25, 1974 when it was $1.04 USD.
www.sellyourmanitobacottage.com
http://www.forexforexforexforex.com
Sphere: Related Content
Leave a comment
Trackback URL for this entry | Commentfeed