USA Travel

Whenever people travel outside their home country, there is good chance that they have performed currency transactions.

Travelers, in many cases, are required to exchange their home country’s currency for the currency of the country they are visiting. Much like the forex market, there are two currencies involved in such occasions but only one exchange rate.

Natalia Osorio Editor of the “Best Forex Trading” website — http://www.BestForexTradingUsa.com — pointed out;

“…Back in the year 2002, travelers would have received an estimated C$1.60 in Canadian currency for every U.S. dollar. It is safe to say that the exchange rate during that year for the U.S. dollar and Canadian dollar was about 1.60 Canadian dollars for each U.S. dollar…”

Years that followed resulted in a dramatic change in the exchange rate and by the year 2006, the rate had fallen to 1.10. This only means that a traveler from the United States would only receive about C$1.10 in Canadian currency for every U.S. dollar exchanged. The measurement of very small changes in this exchange rate can be expressed using 1.1000. If so, the U.S. dollar significantly depreciated against the Canadian dollar during the early part of the twenty-first century.

“…Eventually, the rate of the Canadian dollar approached parity with the U.S. dollar. U.S. citizens were also less likely to visit Canada, because if they did, they were more likely to spend more than they would have in the past, when the exchange rate was more favorable. On the other hand, travelers from Canada were more likely to visit the United States, since their currency bought more U.S. products than it had previously…” N. Osorio added.

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