According to the graph, when would have been the best time for an American to buy a piece of machinery manufactured in Canada? Explain your answer in at least two complete sentences.

The Canadian Dollar is the currency in Canada (CA, CAN). The United States Dollar is the currency in American Samoa (AS, ASM), British Virgin Islands (VG, VGB, BVI), El Salvador (SV, SLV), Guam (GU, GUM), Marshall Islands (MH, MHL), Micronesia (Federated States of Micronesia, FM, FSM), Northern Mariana Islands (MP, MNP), Palau (PW, PLW), Puerto Rico (PR, PRI), United States (United States of America, US, USA), Turks and Caicos Islands (TC, TCA), Virgin Islands (VI, VIR), Timor-Leste, Ecuador (EC, ECU), Johnston Island, Midway Islands, and Wake Island. The United States Dollar is also known as the American Dollar, and the US Dollar. The symbol for CAD can be written Can$. The symbol for USD can be written $. The Canadian Dollar is divided into 100 cents. The United States Dollar is divided into 100 cents. The exchange rate for the Canadian Dollar was last updated on December 6, 2017 from The International Monetary Fund. The exchange rate for the United States Dollar was last updated on December 7, 2017 from The International Monetary Fund. The CAD conversion factor has 6 significant digits. The USD conversion factor has 6 significant digits.

The best time to buy an imported good, such as machinery manufactured in Canada, is when you can buy the most Canadian dollars for your US dollars. According to the chart, rates were most favorable in March 2013. At that time, $1 could buy about 1.03 Canadian dollars.