Closing of the dollar in Canada: find out how much the exchange rate is on March 2

The American dollar paid at closing 1.26 Canadian dollarswhich implied a decline of 0.86% compared to the previous day’s value, which was 1.27 Canadian dollars.

Last week the American dollar accumulates a decrease of 1.4% even if, on the contrary, last year there is still an increase in 4.24%. Compared to the previous days, the direction of the previous result changed, when an increase of 0.63% was recorded, proving unable to consolidate a clear trend in recent days. During the last week, the volatility was 10.25%, which is significantly higher than the annual volatility figure (6.04%), therefore the value is undergoing larger changes than the general trend.

In the annual photo, the American dollar it traded at a high of 1.28 Canadian dollars, while its lowest level was 1.25 Canadian dollars. The American dollar is closer to its minimum value than to its maximum value.

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 printing 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 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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