Foreign Exchange Outlook | |||||||||||||
Currency | Exchange rate | 2020 | 2021 | 2022 | |||||||||
Q1 | Q2 | Q3F | Q4F | Q1F | Q2F | Q3F | Q4F | Q1F | Q2F | Q3F | Q4F | ||
Exchange rate to U.S. dollar | |||||||||||||
Euro | USD per EUR | 1.10 | 1.12 | 1.19 | 1.19 | 1.20 | 1.21 | 1.23 | 1.24 | 1.25 | 1.25 | 1.25 | 1.25 |
UK pound | USD per GBP | 1.25 | 1.24 | 1.29 | 1.31 | 1.33 | 1.34 | 1.36 | 1.37 | 1.38 | 1.40 | 1.40 | 1.40 |
Japanese yen | JPY per USD | 108 | 108 | 106 | 105 | 105 | 104 | 104 | 103 | 103 | 103 | 103 | 102 |
Chinese renminbi | CNY per USD | 7.08 | 7.07 | 6.80 | 6.90 | 6.90 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 | 6.80 |
Exchange rate to Canadian dollar | |||||||||||||
U.S. dollar | USD per CAD | 0.71 | 0.74 | 0.76 | 0.77 | 0.78 | 0.78 | 0.78 | 0.77 | 0.77 | 0.77 | 0.77 | 0.77 |
Euro | CAD per EUR | 1.56 | 1.53 | 1.56 | 1.55 | 1.55 | 1.55 | 1.58 | 1.61 | 1.63 | 1.63 | 1.63 | 1.63 |
UK pound | CAD per GBP | 1.76 | 1.68 | 1.69 | 1.70 | 1.72 | 1.72 | 1.75 | 1.78 | 1.80 | 1.82 | 1.82 | 1.82 |
Japanese yen | JPY per CAD | 76.1 | 79.2 | 80.5 | 80.8 | 81.0 | 81.3 | 80.2 | 79.4 | 79.2 | 79.0 | 78.8 | 78.7 |
Chinese renminbi | CNY per CAD | 5.01 | 5.20 | 5.19 | 5.31 | 5.35 | 5.31 | 5.27 | 5.23 | 5.23 | 5.23 | 5.23 | 5.23 |
F: Forecast by TD Economics as at
September 2020. All forecasts are end-of-period. Source: Bloomberg, Bank of Canada, Federal Reserve, TD Economics. |