Canadian Dollar Vs Us Dollar Last 10 Years
If you're planning to travel to Canada or invest in Canadian stocks, you might be wondering how the Canadian dollar has been performing against the US dollar in the past decade. Here's a look at the Canadian dollar vs US dollar last 10 years:
2009-2011
In 2009, the Canadian dollar was trading at around 0.80 USD. However, it gained strength in the following years, reaching parity with the US dollar in 2011. This was due to several factors, including a stronger Canadian economy and rising commodity prices.
2012-2013
In 2012, the Canadian dollar started to weaken against the US dollar, trading at around 0.98 USD. This was due to several factors, including a slowdown in the Canadian economy and a strengthening US economy. The trend continued in 2013, with the Canadian dollar trading at around 0.94 USD.
2014-2016
In 2014, the Canadian dollar continued to weaken against the US dollar, trading at around 0.88 USD. This was due to several factors, including falling oil prices and a struggling Canadian economy. The trend continued in 2015, with the Canadian dollar trading at around 0.75 USD. However, in 2016, the Canadian dollar started to gain strength again, trading at around 0.78 USD.
2017-2019
In 2017, the Canadian dollar continued to gain strength against the US dollar, trading at around 0.80 USD. This was due to several factors, including a stronger Canadian economy and rising oil prices. The trend continued in 2018, with the Canadian dollar trading at around 0.77 USD. However, in 2019, the Canadian dollar started to weaken again, trading at around 0.75 USD.
2020-2021
In 2020, the Canadian dollar experienced a significant drop in value due to the COVID-19 pandemic and falling oil prices. It traded at around 0.72 USD in March 2020, but started to gain strength again in the following months, reaching around 0.80 USD in December 2020. However, in 2021, the Canadian dollar started to weaken again, trading at around 0.77 USD in June 2021.
Conclusion
Over the past decade, the Canadian dollar has experienced significant fluctuations against the US dollar. While it reached parity with the US dollar in 2011 and gained strength in the following years, it started to weaken again in 2012 and experienced a significant drop in value in 2020 due to the COVID-19 pandemic. However, it has started to gain strength again in recent months.