After opening the euro quoted at the start of the day 1.35 Canadian dollars on averagewhich represents an increase of 0.07% compared to the previous day, when it traded on average at 1.35 Canadian dollars.

Regarding the last seven days, the euro marks a decrease of 0.55% and year-on-year, it still accumulates a decline of 6.08%. Compared to previous dates, it turns the tables from that of the previous session, in which a decline of 0.64% was noted, showing itself unable to establish a clear trend recently. The volatility of the last seven days is greater than that accumulated over the last year, so it shows larger changes than the general trend of the value.

the canadian recovery

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 issue 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.

Today Canadian coins of 1, 5, 10 and 25 are 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 the economic field, 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 blow that the coronavirus pandemic represented.

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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