26. CHAPTER. The Exchange Rate Ratna K. Shrestha. Many Monies!. The world’s four big monies are the U.S dollar, the Japanese yen, the U.K. pound and the European euro. How much these currencies (and many other currencies) can one CAD $ buy? Why do currency exchange rates fluctuate?
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The Exchange Rate
Ratna K. Shrestha
Figure 26.2 shows the average annual Canadian dollar interms of the U.S. dollar from 1951 to 2005.
Purchasing Power Parity