The Canadian currency exchange rate rise proves to be a bonus for Canadian travelers
April 6th, 2008
The commodity driven currencies have enjoyed a strong appreciation in recent years in response to a healthy demand for commodities and raw materials. One of the countries on the receiving end of this international demand from countries such as India and China is Canada. The Canadian currency exchange rate enjoyed a tremendous appreciation over a period of two years. It has exceeded parity but has come off somewhat in recent times in response to the turbulence in international commodity prices, exchange rate dynamics and interest rate differentials. Irrespective, it has been a great time for Canadian residents to consider traveling abroad to take advantage of the strong exchange rate.
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