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When commodity prices rise, the Canadian dollar tends to appreciate, and once they drop, the Canadian dollar has a tendency to depreciate. copyright revenue copyright

Because of this, the Canadian greenback is closely influenced because of the strength in the US economic climate and also the US dollar.

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In conclusion, while the CAD and USD might appear similar, there are numerous important variations between both of these currencies that make them unique.

The Bank of copyright, which is the place’s central bank, has an inflation concentrate on of 2%. This means that the financial institution utilizes financial policy instruments to maintain the inflation amount at or close to two%.

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