Visualizing the Loonie's Decline Against the U.S. Dollar

What We’re Showing

This graphic illustrates the USD to CAD exchange rate from 2004 to 2024, based on data from the Bank of Canada Daily Noon Exchange Rate.  

Key Takeaways

• The loonie briefly surpassed the U.S. dollar in 2007 as demand for resources exports like oil & metals benefited Canada.
• Over the past decade, the U.S. economy has outperformed Canada's in terms of growth & job creation.