Hello,
How do you know if the Canadian dollar is rising or falling relative to the US dollar? Is 0.95 CAD/USD good or bad?
Thanks very much for your help.
This site will show you a graph.
http://www.oanda.com/currency/historical-rates/
Thanks Ms. Sue however I just need to know if CAD / USD > 1 is good or bad.
What do you think?
If you want, you can adjust the graph for a longer period than one year.
I think that if one Canadian dollar buys more US dollars, Canada has a stronger dollar e.g. - 1.1 CAD/USD. This is represented by an upward slope in the graph. Is this true Ms.Sue?
That's right. It's good for Canadians.
Ms.Sue, does this make sense?
The Canadian dollar is strong when its value has increased relative to the U.S. dollar, enabling it to buy more U.S. dollars, which is represented by a positive slope valuing above par.