World commodity prices increased significantly over the years 2002-2008.Since Canada is a large exporter of commodities,it is not surprising that over this time period Canada experienced

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When world commodity prices increase, countries that are large exporters of commodities tend to experience a corresponding appreciation of their currency since demand for their exports increases, leading to an increase in demand for their currency. Therefore, it is likely that Canada experienced a significant appreciation of its currency against the U.S. dollar during the years 2002-2008.

World Commodity Prices Increased Significantly Over the Years 2002-2008