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Currency
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Is the Canadian dollar a hard or soft currency? HardCurrency value relative to the Canadian dollar: 1 CAD = 0.75
USD
Historical timeline of USD vs CAD:
USD: Over 2 years: In 2020, 12 federal reserve banks started
using banknotes for other purposes because these notes were not
fit for use. These 12 banks shred or reuse money that is too
impure for many purposes including insulation or compost. Over
7 years: The federal reserve board launches a website called
uscurrency.gov to share with the public the security and design
features of notes belonging to federal reserves. This website also
offers free education materials in different languages. Over 9
years: The $20 dollar bill was redesigned, the improved bill had
a very light background of green and peach. The note includes a
security thread that when illuminated by a UV light glows green.
Also, a watermark of President Jackson is visible from both
sides of the note. The note also has the number 20 in the lower
right corner, this 20 changes colors. CAD: In 2002, the value of
the Canadian dollar was 1 CAD = 0.6198 USD. The first
banknotes were made of polymer, they were issued in November
2011.
Effects of currency fluctuations on your chosen country: When the Canadian dollar is strong, traveling
south of the border is less expensive. A strong Canadian dollar can buy a lot of US dollars; a weak
Canadian dollar makes it harder and more expensive to go south, weak Canadian dollars can also buy less
US dollars. A Canadian dollar that is repeatedly getting stronger will end up easily paying the returns that
arrive from the US market, if the opposite happened, returns would be more difficult to pay.
Bibliography:
Desjardins, Jeff. 2017. “How Currency Fluctuations Impact Canadian Investors.” Visual
Capitalist. December 11, 2017.
https://www.visualcapitalist.com/currency-fluctuations-impact-canadian-investors/.
“Hard Currency.” n.d. Corporate Finance Institute.
https://corporatefinanceinstitute.com/resources/foreign-exchange/hard-currency/. “History
of U.S. Currency | U.S. Currency Education Program.” n.d. Www.uscurrency.gov.
Accessed November 17, 2022. https://www.uscurrency.gov/history?period=2000s. “The
History of the Canadian Dollar.” 2017. WorldAtlas. August 15, 2017.
https://www.worldatlas.com/articles/the-history-of-the-canadian-dollar.html.
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