Canada: euro opening rate today May 31 from EUR to CAD

After the opening of the trading session, the euro is traded in the open 1.35 Canadian dollars on averageso it implied a decline of 0.73% from the previous day’s average of C$1.36.

Compared to last week, the euro registered a decrease of 1.17%that’s why for a year there is still a decline 8.6%. By comparing this data with that of the past days, it chains three consecutive days of negative figures. The volatility of the last seven days is lower than that accumulated over the last year, appearing as a value with less variation than usual in recent days.

In the annual photo, 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.

the canadian recovery

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.

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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