The euro is quoted at the start of the day today at 1.30 Canadian dollars on averageso that it implied a variation of 0.59% compared to the 1.31 Canadian dollars on average the day before.

Considering last week, the euro marks a decrease of 1.55%so that year-on-year it still maintains a decline 9.52%. By analyzing these data with those of previous dates, it reverses the result of the day before, which ended in an increase of 0.41%, showing that it is not capable of consolidating a trend of recent dates. With reference to the volatility of the last week, it is higher than the data obtained for the last year (6.84%), which shows that it presents greater variations than the general trend of the value.

canadian currency

The Canadian dollar It is the official monetary unit in Canada, to refer to it the acronym CAD is used and it 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 printing 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.

Regarding the economy, 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 country’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.

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