Canada: euro opening rate today May 20 from EUR to CAD

The euro is traded in the open 1.35 Canadian dollars on averagewhich implied a decline of 0.29% compared to the previous day’s figure of 1.36 Canadian dollars on average.

With reference to the profitability of the last seven days, the euro mark a rise of 0.79%; but year-over-year, it still maintains a decline 8.46%. By analyzing these data with those of the previous days, it reverses the result of the day before where it experienced an increase of 0.1%, showing in the last dates a lack of continuity in the results. As for the volatility of the last days, it is slightly lower than that accumulated last year, presenting itself as a value with less changes than expected in the last days.

Over the past year, the euro it traded at a high of 1.46 Canadian dollars on average, while its lowest level was 1.33 Canadian dollars on average.

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 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.

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 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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