Lanu Benegra`s Blog Site

In the years past the Canadian exchange rate did not enjoy great purchasing power relative to the US exchange rate. Times have changed and the demand for Canada natural resources by countries such as China has contributed to the rapid appreciation of the Canada foreign currency exchange. As a commodity driven economy, the demand for natural resources has resulted in a healthy demand for the Canadian currency. The currency actually exceeded parity in the past few months. It has come back down to around parity but with the problems the US face and the demand for oil still very strong this is likely to put continued pressure on the Canadian dollar to appreciate.

This entry was posted on Saturday, February 2nd, 2008 at 5:13 am and is filed under Business. You can skip to the end and leave a response. Pinging is currently not allowed.