Declining value of Canadian dollar and Australian dollar / myLot

Singapore

January 30, 2016 8:42am CST

I notice that the value of both Canadian Dollar and Australian Dollar is about the same at the moment. Both currencies are about the same value as Singapore Dollar now. Both currencies used to be strong relative to the currency in my country. I can still remember the days when it took S$1.30 to get one Canadian dollar or Australia dollar. Now it takes almost one to one. The low oil price brings the currencies down. I guess it is good for tourists but not the Australians and Canadians.

7 people like this

7 responses

Go Crossbones

@crossbones27 (48417)

• Mojave, California

30 Jan 16

I think the many countries do not like the oil prices to low. They say the Saudi Arabia and other big oil middle eastern countries are flooding the market to screw with their competition.

1 person likes this

scheng1

@scheng1 (24650)

• Singapore

31 Jan 16

Actually it is the US that starts the price war. When the technology to extract shale oil comes into play, the US literally floods the world with oil, and obviously OPEC refuses to cut supply! The lower the oil price, the more they produce.

1 person likes this

Go Crossbones

@crossbones27 (48417)

• Mojave, California

1 Feb 16

@scheng1 True and I am sure there is many players trying to hurt each others competition.