At the start of the day the American dollar is traded in the open 1.30 Canadian dollars on averagewhich represents an increase of 0.67% compared to the 1.29 Canadian dollar on average the previous day.

Compared to the profitability of the last seven days, the American dollar recorded an increase of 1.87% and in annual terms, it still maintains an increase of 4.07%. As for past days, adds two consecutive days of earnings. During the last week, the volatility is a little higher than that accumulated last year, so it is going through a phase of instability.

Over the past year, the American dollar it traded at a high of 1.30 Canadian dollars on average, while its lowest level was 1.25 Canadian dollars on average.

canadian currency

The Canadian dollar It is the official monetary unit in Canada, it is represented by the acronym CAD and is subdivided into 100 cents.

It should be noted that the Canadian dollar has been used almost throughout the country’s history, having replaced the British pound, the Spanish dollar and the peso.

It was on July 1, 1858 that the authorities ordered the creation of the first Canadian dollars, which would be adopted in the decimal system in the following years. However, it was not until 1871 that monetary unification has been approved of all Canadian provinces to use the dollar, finally abolishing the gold standard in 1933.

Canadian coins of 1, 5, 10 and 25 are currently used. pennies, 1 and 2 dollars, issued by the Royal Canadian Mint; on the other hand, the notes of 5, 10, 20, 50, 100 and 1000 dollars are issued by the Bank of Canada and produced in Ottawa.

In economic matters, the Organization for Economic Co-operation and Development (OECD) recently confirmed that Canada has passed its tipping point and is heading for a period of moderate growth, after the severe blow represented by the SARS-CoV-2 pandemic.

On the other hand, Canada has also succeeded in positioning itself as the largest trading partner of the United States at the end of 2021, with a 14.5% share compared to the nation’s top 15 partners.

The International Monetary Fund (IMF) predicts that Canada will grow by 4.1% in 2022 and by 2023, growth of 2.8%, which would mean a slowdown from the 4.7 reached in 2021.

We recommend you :

information