USD-CAD

The coinage of Canada is Canadian dollar. It is represented by C$ and often CAN$ to differentiate it from other dollar dominated currencies. It is in use from 1858. One Canadian dollar consists of 100 cents. CAD is thought to be a standard currency various central banks throughout the worldpreserve Canadian dollars as a reserve currency.

In forex exchange, many organizations and persons trade Canadian dollar so its rank is seven in the list of maximum traded currency. Worth of Canadian dollar and Canada’s economic policy are critically effected by international goods rates particularly oil. So Canada’s currency has a tendency tovaryaccording to international goods rates.

USD/CAD is the short form for U.S dollar and Canadian dollar exchange pair. It is also called “loonie”. The pair shows value of Canadian dollar in one U.S dollars.

1 U.S Dollar = 1.24 CAD

Increase and decrease in rates of U.S dollar and Canadian dollar with respect to each other and other currencies have impact on USD/CAD. So difference of interest rates of federal reserve (Fed) and the bank of Canada (BoC) will have impact the rates of these currencies when compared to each other.