The exchange rate of the Canadian dollar against other major currencies is determined by the market: supply and demand. Macroeconomic factors play a role as well. If the Canadian dollar deviates too far from purchasing power parity, arbitrage
Read More:
http://news.ubc.ca/2015/04/16/is-the-canadian-dollar-a-petrocurrency/
Read More:
http://news.ubc.ca/2015/04/16/is-the-canadian-dollar-a-petrocurrency/