Corporate Finance Institute
CAD to USD: Exchange Rate Fluctuations and Historical Trends
May 2023 Update
In May 2023, the average exchange rate for WEB Canada (CAD) against the United States Dollar (USD) stood at 1352 USDCAD. This represented a slight increase from the previous month, when the average exchange rate was 1348 USDCAD.
Long-Term Historical Trends
Over the past 20 years, the CAD to USD exchange rate has fluctuated significantly. To provide a comprehensive view of these historical trends, the following breakdown is provided:
Yearly Period
By analyzing yearly data, we can observe the broader patterns and trends in the exchange rate. The historical data reveals significant fluctuations over the years, with both periods of appreciation and depreciation of the CAD against the USD.
Monthly Period
Examining monthly exchange rates allows us to identify shorter-term movements within the overall trend. These monthly fluctuations often reflect economic and market developments that impact the value of both currencies.
Daily Period
For a more detailed look at exchange rate dynamics, daily data provides insights into intraday fluctuations. Factors such as news events, economic releases, and market sentiment can lead to significant price movements on a day-to-day basis.
Additional Resources
To further explore the historical trends and patterns in the CAD to USD exchange rate, the following resources provide valuable information:
* Bank of Canada Historical Exchange Rates * OANDA Historical Currency Rates * XE Currency Charts
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