The currency pair is the Australian dollar to the Canadian dollar.
The Australian dollar, also called the Aussie, is a typical commodity currency, as its price is influenced by the prices of minerals exported by Australia. The largest importer of iron ore, coal and other natural resources is China, the state of its economy also has an impact on the volume of exports and, accordingly, the rate of the Australian dollar.
The economy of Canada is heavily dependent on the US economy, which is associated with numerous agreements that favor mutually beneficial trade. Canada - one of the largest oil exporters, the price of which has a big impact on the national currency of the country. At the same time, Canada is a post-industrial state in which the bulk of GDP (about 70%) is formed by transport, communications, trade, tourism and health services. Canada is one of the largest producers of wheat, but agriculture accounts for only 2% of GDP.
Most of the trade between Canada and Australia is currently targeted at large companies in traditional sectors such as mining, transport and forestry. There is growing interest in Canadian oil and gas equipment and technologies.
The AUD / CAD currency pair is built on the principle of direct quotation. The base currency is the AUD, the Australian dollar, and the quoted currency is CAD, the Canadian dollar. A rise in the currency pair means the strengthening of the Australian dollar against the Canadian dollar, that is, more CAD is required to buy one AUD. A decrease in the rate indicates the strengthening of CAD.
Using the current exchange rate chart, you can monitor the dynamics of a currency pair in real time.
The Australian dollar (bank code: AUD), the official currency of the Commonwealth of Australia, also has circulation on the islands of Christmas, Cocos Islands and Norfolk Island. In addition, AUD has circulation in the states of Kiribati, Nauru and Tuvalu. The issue of the Australian dollar, as well as the regulation of the Australian banking and monetary system is carried out by the RBA (Reserve Bank of Australia).
Canadian dollar - (currency sign - $ or C $, bank code: CAD) - the national currency of Canada. It was introduced in 1858. The Central Bank of Canada has the right of issue and regulation.
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