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this is a picture of the exchange rate chart from USD to CAD from January 2012 to April 2023. it shows how much the rate fluctuates throughout the years.

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If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

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If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

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I think the most important thing i would pass on would be how and what effects exchange rate because i think that is really important for everyone to know.

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What did you learn about your topic that surprised you the most?

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What did you learn about your topic that surprised you the most?

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The thing that surprised me the most was how much the exchange rate can fluctuate in such a small time frame and how it can change every day

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this video shows you how to get the best rate when exchanging your money depending on what currency you are exchanging too.
in the video it talks about how most credit card companies charge you a fee when buying something in a foreign currency,
It talks about how if you are in a different country and there is an option to either pay in there local currency or CAD it is better to pay in the local currency because there will ne less fees.

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How to get the best rate when exchanging your money

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I chose this website because it explains in depth what causes exchange rates to change.
Inflation is a big factor in exchange rate .
when the cost of things like groceries and gas or rent go up then they become less affordable witch is a big factor for inflation.

Trade also has an effect on the exchange rate.
countries in a trade surplus meaning then export more then they import will have a higher value currency.

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Why Do Exchange Rates Change | Foreign Exchange - HSBC Expat

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Learn more about why exchange rates change, what affects them and how to manage money across multiple currencies with an HSBC Expat Bank Account.

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this website shows the exchange rate for al currencies compared it CAD.
I thought this website was interesting to see how the Canadian dollar compares to other currencies around the world.

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View the daily average exchange rates. Published once each business day by 16:30 ET.

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This video shows and talks about appreciation and depreciation.
appreciation is when the value of one currency compared to other currencies increases and depreciation is when a currency losses value.
for example in march 2023 the exchange from USD to CAD was 72 cents to a dollar witch means to get one canadian dollar you need 72 cents USD, In april 2023 it changed to 74 to a dollar witch means the USD depreciated.

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In this video he is talking about the 2 different types of exchange rates, floating and fixed exchange rates.
floating exchanged rates change due to supply and demand and based on the market.
fixed exchange rates are when the value of a countries currency is manipulates by the government.

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Floating vs. Fixed Exchange Rates- Macroeconomics 5.4

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The topic I chose is exchange rates
Exchange rates are defined as a rate at witch one currency will be exchanged for another currency.

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Provide a real-life example of how this topic is relevant or interesting for you.

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Provide a real-life example of how this topic is relevant or interesting for you.

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A real life example of how this topic is relevant to me is if I were to go to a foreign country. I can use what I have learned about spending money in a different country to hopefully save money on fees.

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this website shows the history of the CAD compared to USD.
I Thought this website was interesting because it shows how much the rate fluctuates throughout the years.
One of the things that surprised me was how big of a difference the rate was from when the price of CAD was the highest and when it was the lowest.
the lowest was in 2002 when it was 63 cents USD to 1 CAD
and the highest in 2012 at 1.01 USD to 1 CAD.
that's a difference of 38 cents witch surprised me because I didn't know that the rate could change that much in just 10 years.

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CAD to USD historical exchange rate | OFX (CA)

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Get access to 20+ years of Canadian dollar to US dollar exchange rates, broken down by daily, monthly & yearly periods.