The euro was traded at closing 1.30 Canadian dollars on averagewhich implied a variation of 0.31% compared to the 1.31 Canadian dollar on average the day before.

If we consider the data of the last seven days, the euro mark a decline 1.28% and last year it still maintains a decrease of 9.27%. Compared to the previous days, it reversed the situation compared to the previous day, where an increase of 0.41% was noted, lately showing a lack of stability in the result. The volatility of the last seven days is slightly higher than the figures reached last year (6.83%), presenting itself as an asset with larger variations than normal.

Canadian dollar

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.

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.

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 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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