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In 1950, the federal government decided to switch to a policy of floating exchange rates, while maintaining the restrictions on currency exchanges. The rationale was a concern about an increase in inflation if the Canadian dollar continued to be fixed against the US dollar, as was required by the Bretton Woods agreement. The decision to switch ...
International use of the U.S. dollar
In macroeconomics and economic policy, a floating exchange rate (also known as a fluctuating or flexible exchange rate) is a type of exchange rate regime in which a currency 's value is allowed to fluctuate in response to foreign exchange market events. [1] A currency that uses a floating exchange rate is known as a floating currency, in ...
The Canadian dollar (symbol: $; code: CAD; French: dollar canadien) is the currency of Canada. It is abbreviated with the dollar sign $. There is no standard disambiguating form, but the abbreviations Can$, CA$ and C$ are frequently used for distinction from other dollar-denominated currencies (though C$ remains ambiguous with the Nicaraguan córdoba).
List of countries by exchange rate regime
U.S. Dollar Index
Banknotes of the Canadian dollar
The expected benefit of currency substitution is the elimination of the risk of exchange rate fluctuations and a possible reduction in the country's international exposure. Currency substitution cannot eliminate the risk of an external crisis but provides steadier markets as a result of eliminating fluctuations in exchange rates. [2]