Search 120,491 Tips
Foreign Exchange Rates
Canadian Currency - A Conservative Option
Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Foreign Exchange Rates and other Forex topics.
What About Canadian Currency?
Canadian Currency - A Conservative Option
If you want to play it safe, the closest currency exchange rate and culture to the U.S. is Canada.
The Canadian dollar is the seventh most traded currency in the world, and many banks keep Canadian dollars as a reserve currency.
Typically, the Canadian dollar tends to move in tandem to the U.S. dollar, but less dramatically. This makes it a more stable investment for those who are seeking to play in the currency markets - but don't want to gamble.
