CAD reaches high
Exchange rates for the Canadian dollar climbed to 1.0895 against the US dollar, gaining 0.9% in a short session. Rising consumer confidence and commodity prices have helped drive the Canadian economy recently, although the Central Bank fears a stronger Canadian exchange rates could undermine the effects of economic recovery.
The Central Bank governor Mark Carney has claimed a global recovery is "nascent" and the bank predicts the CAD will average an exchange rate of 1.15 against the USD throughout 2011.
The Canadian dollar exchange rate is currently 1.08 against the US dollar.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.