What factors influence the fluctuation of CDN exchange rate?

1 answers

• Nov 26, 2021 · 3 years ago
  At BYDFi, we believe that the fluctuation of the CDN exchange rate is primarily driven by market forces, such as supply and demand dynamics. When there is a high demand for the CDN currency, its value tends to rise, and when there is a low demand, its value tends to decline. Factors that can influence the demand for the CDN currency include economic indicators, such as GDP growth, inflation, and interest rates, as well as geopolitical events and market sentiment. It's important to note that the exchange rate can also be influenced by government intervention, such as central bank interventions or changes in monetary policy. However, it's worth mentioning that the CDN exchange rate is also influenced by global factors, such as the strength of the US dollar and the overall state of the global economy. Overall, the fluctuation of the CDN exchange rate is a complex phenomenon that is influenced by a wide range of factors.
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