Canadian dollar.

Canadian dollar acts as a means of payment in Canada and freely exchanged for the national currency of the majority of world powers. Recently, the currency starts to get more and more popularity in the background is not a stable US dollar and the euro.

Until recently, the Canadian dollar largely acted as a commodity currency, the scope of which was in the calculations for oil and metals, which is the largest exporter of Canada.



At the moment, it is increasing the popularity of the currency as a stable instrument for the formation of foreign exchange reserves of national and commercial banks. The increase in demand is due to exchange rate stability and a positive outlook on the economy. Citizens of many countries just beginning to show an increased interest in the payment means using Canadian currency to protect their savings from depreciation.

In international payments, the Canadian dollar is still less popular than other world currencies, its position is second monetary units such as the euro, US dollar, Japanese yen, British pound and Swiss franc, its share in the total use of world trade is only a few percent.

This tender is part of a list of freely convertible currencies in the world, so the price is established only in the process of open bidding, depending on supply and demand. She is now almost equal to the value of the US dollar and fluctuates between 1-1,01 Canadian dollars per US dollar.

The turnover produced a total of five denominations is 100, 50, 20, 10 and 5 dollars.

In connection with his tovaro dependence of the exchange rate can be easily forecast, for this reason, this currency does not use the low demand among traders in the forex market.

with her participation operations are carried out on such currency pairs as the CHF / JPY, EUR / CAD, USD / CAD, the most attractive to trade is the last pair, as the factors affecting the Canadian dollar, and sometimes have the opposite effect on the US dollar, so the price of the currency pair USD / CAD sharply goes down.

The main factors causing the Canadian dollar exchange rate is - higher oil prices and oil products, ferrous and non-ferrous metals, on the improvement of the economic situation in the country and posts publication of key financial indices. Their timely tracking provides excellent prospects for trade using forex news strategies.