CRUDE OIL is one of the main raw materials which is produced in Canada and is supplied to United States. The Canadian currency started having increase in its value again versus U.S. Dollar when the crude oil rates raised beyond $70 a barrel.
In September, 2009 Canadian Dollar exchange rate averaged 1.08 CAD
to USD which was 0.6 basis points lower than the August, 2009 rate of 1.09. The short term trend of Canadian Dollar Vs. U.S. Dollar would be relatively neutral. The average Canadian Dollar conversion rate over the last year was 1.18 and over the last 10 years was 1.30. A lower Canadian Dollars to US Dollars exchange rate over the last year compared to the average currency rates over the last 10 years indicates that the long term rate trend weakening U.S. Dollar against the Canadian Dollar.
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