Canadian Loonies for U.S. Dollars?
Before cutting its copy back, the Bellingham Herald used to print local data trends, such as the Canadian Exchange Rate. The data tables showed the value of Canadian currency (e.g. Canadian dollar or Loonie) in terms of the U.S. dollar on an annual average.
The following data was published on October 13, 1994:
Question 1: Pose explanations for the variance in the data...and is there a possible connection between this data and the Border Crossing Data presented last week (e.g. compare the trends, etc.)?
- 1986: $0.72
- 1987: $0.76
- 1988: $0.83
- 1989: $0.85
- 1990: $0.86
- 1991: $0.89
- 1992: $0.80
- 1993: $0.75
- 1994: $0.74
Question 2: Based on this data, what would you predict is the current Canadian Exchange Rate? Search for the actual value, and be prepared to be surprised that it is much different (higher or lower?) that the expected value. How can you explain this?