Canada Real Effective Exchange Rate in 2015
Canada Real Effective Exchange Rate opened 2015 at 106.77 and closed at 97.09, a -9.07% move for the year. The high of 107.25 was reached on May 1, and the low of 97.09 on December 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 106.77 | 106.77 | 106.77 | 106.77 | +0.00% |
| Feb | 103.81 | 103.81 | 103.81 | 103.81 | +0.00% |
| Mar | 104.11 | 104.11 | 104.11 | 104.11 | +0.00% |
| Apr | 105.70 | 105.70 | 105.70 | 105.70 | +0.00% |
| May | 107.25 | 107.25 | 107.25 | 107.25 | +0.00% |
| Jun | 105.88 | 105.88 | 105.88 | 105.88 | +0.00% |
| Jul | 102.43 | 102.43 | 102.43 | 102.43 | +0.00% |
| Aug | 100.76 | 100.76 | 100.76 | 100.76 | +0.00% |
| Sep | 99.92 | 99.92 | 99.92 | 99.92 | +0.00% |
| Oct | 101.16 | 101.16 | 101.16 | 101.16 | +0.00% |
| Nov | 100.38 | 100.38 | 100.38 | 100.38 | +0.00% |
| Dec | 97.09 | 97.09 | 97.09 | 97.09 | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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