The Canadian dollar rose to one-for-one footing with the U.S. currency on Tuesday for the first time since July 2008, boosted by rising commodity prices and expectations for higher domestic interest rates.
Following are some key dates in the history of the Canadian dollar.
September 1950 - Canada allows the Canadian dollar to float against other currencies. The currency was previously tied to the price of gold under the gold standard.
May 1962 - Canada brings back a fixed rate for a period, valuing the Canadian dollar at 92.5 U.S. cents, with a fluctuation band of plus or minus 1%.
May 1970 - Canada returns to a floating rate, which it has used since. The currency climbs about 5% to about 97 U.S. cents and moves above the U.S. dollar by 1972.
April 25, 1974 - Canadian dollar hits what was then a modern high of US$1.0443
Feb. 4, 1986 - Currency falls to a low of 69.13 U.S. cents, a record at the time, on soft commodity prices and concerns about Canada