:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/WKBJQAWRARDS7CAITWNIYOUGYY.jpg "Closing rate of the euro in Canada this October 21 from EUR to CAD")
The euro paid at closing 1.34 Canadian dollars on averageso it was a 0.19% change from the previous day’s figure, when it closed at C$1.35 on average.
Compared to last week’s profitability, the euro records a fall 0.31%for this reason, from one year to the next, there is always a decrease in 5.7%. Regarding the past days, it reversed the result of the previous day when it had experienced a rise of 0.66%, without being able to establish a definite trend recently. Last week’s volatility was 4.87%, which is significantly lower than the annual volatility figure (6.98%), so in this latest phase there is less variation than normal.
Canadian dollar
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 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 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 managed to position itself as the top trading partner of the United States at the end of 2021, with a 14.5% share against 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.
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