To conclude this month about the Canadian dollar, I would say I have a feeling that the future of the Canadian dollar seems so uncertain yet stable. Its closest rival being the American dollar and they always differ by a few cents. However I remembered of asking my management professor at university about dollars in general. I asked why do people trust the U.S dollar despite being knowing that the country's economy is not healthy. He could not give me a convincing answer.
However he did say that the Canadian dollar or Canada in general was meant to be different that the United States. What he meant different would mean better and with improvements. We did learn a lot about the difference in the banking system in these two countries. Although I have never seen a U.S dollar in real life. I always want to hold one of these green paper with their former presidents on its side. Somehow holding the US dollar makes me feel powerful.
Something for sure about the Canadian dollar is that its banknotes will change dramatically by the end of 2013. A new material will be used in the making of banknotes and together they will form the polymer banknotes. They already implemented it on the $50 and $100 dollar bills and what some friends told me is that it felt like holding plastic instead of money. This new technology was aimed to eliminate the risk of banknote counterfeiting, But lately someone mentioned that the banknote melted at high temperatures. I believe they said 140°C which is not a temperature you would ever find only in ovens. It was a nice discovery but what a waste of money.
This was my view about the Canadian dollar and its purchasing power. Different countries may have different currencies and so far I am quite satisfied with the currency I am currently using. It might not be the best in the world but what defines the best currency? It is just a question of personal preference.
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