Canada: Closing rate of the euro today July 28 from EUR to CAD

During the last session, the euro listed at the close of 1.31 Canadian dollars on averagewhich represents a variation of 0.18% compared to the figure of the previous session of 1.31 Canadian dollars on average.

Looking at last week’s data, the euro registered a decrease of 0.75%therefore, in annual terms, there is always a decrease in 8.99%. By analyzing these data with those of the previous days, he reversed the result of the day before, where he obtained an increase of 0.74%, showing in the last dates a lack of stability in the results. Over the past week, volatility is lower than the figures reached last year (6.75%), presenting itself as a value with fewer changes than normal recently.

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 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 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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Theodore Davis

"Entrepreneur. Amateur gamer. Zombie advocate. Infuriatingly humble communicator. Proud reader."

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