Convert 10424 Canadian Dollar (CAD) to US Dollar (USD)
Exchange rates used for currency conversion updated on 17th May 2012 ( 17/05/2012 )
Below you will find the latest exchange rate for exchanging Canadian Dollar (CAD) to US Dollar (USD) , a table containing most common Canadian Dollar / US Dollar conversions and a CAD/USD chart with the pair's evolution.
The Canadian Dollar (CAD) to US Dollar (USD) rates are updated every minute using our advanced technology for live forex currency conversion.
*Disclaimer: AVERAGE intraday quotes were used for this conversion. The exchange rate the system calculated between Canadian Dollar and US Dollar on 17/05/2012 is 1 CAD = 0.981 USD
The Bank of Canada manges the circulation and monetary policy of the floating yet highly dependent currency. The Canadian dollar (CAD) is heavily intertwined with economic developments in the United States and the USD this is compounded with the high trade dependence Canada shares with the US and is only mitigated by the price of commodities such as oil in which Canada is a net exporter and therefore can leverage these exports to support the CAD independent of the USD. The Bank of Canada follows its mandate of promoting the economic well being of the nation in juxtaposition to the mandate of many central banks as price stability.
About US Dollar (USD)
The privately owned and government sanctioned United States Federal Reserve Bank manages the monetary policy for the United States dollar (USD). The USD is the the worlds most widely held reserve currency and the most traded currency in world currency trading markets. The USD is official currency in 14 countries and the unofficial or de facto currency in 37 others. The US dollar is the second largest currency in circulation having been surpassed by the euro. The USD is a floating fiat currency.