Changes

The '''Canadian Dollar''' is the official currency of Canada. In October 2007, the Canadian dollar became more valuable than the [[United States of America|American]] [[dollar]] for the first time since the 1960s.  However, this was not so much an increase in the value of the Canadian dollar, but a decrease in the value of the American dollar.  The Canadian dollar has stayed relatively steady against the [[euro]] and other major currencies, while the US dollar has fallen.

The '''Canadian Dollar''' is the official currency of Canada. In October 2007, the Canadian dollar became more valuable than the [[United States of America|American]] [[dollar]] for the first time since the 1960s.   

 

The increase in the value of the Canadian dollar is in part due to a decrease in the value of the American dollar, and in part because of the economic situation in Canada.  The Canadian Federal Government has consistantly run large, net [[surplus|surpluses]] of tax revenues over expenditures, and is paying down their [[national debt]] (currently still at 457 Billion Canadian Dollars).  The value of the economy also grows because of the wealth in the natural resources including oil, and other minerals.  This apprechiation of the Dollar has caused difficulties for the manufacturing areas of the economy.  The Canadian dollar has stayed relatively steady against the [[euro]] and other major currencies, while the US dollar has fallen.<ref>[http://www.fin.gc.ca/budtoce/2007/ec07_e.html 2007 Economic Statement]</ref>

 

[[Category: Economics]]

[[Category: Economics]]

[[Category: Canada]]

[[Category: Canada]]