:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/Q4WPO62ADBBVNP5QDAGB7TXASY.png "Closing rate of the euro in Canada this August 26 from EUR to CAD")
The euro was traded at closing 1.30 Canadian dollars on averagewhich implied a variation of 0.71% compared to 1.29 Canadian dollars on average during the previous session.
Looking at last week’s data, the euro accumulates a decrease of 0.38% and in annual terms, it still maintains a decrease in 9.58%. If we compare the figure with the previous days, it reversed the previous day’s data where it saw a drop of 0.1%, proving unable to establish a definite trend in the latest dates. Volatility regarding the past week was slightly lower than that accumulated over the past year, so we can say that it is going through a period of greater stability recently.
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 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.
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 economic matters, 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.
We recommend you :
“Entrepreneur. Amateur gamer. Zombie advocate. Infuriatingly humble communicator. Proud reader.”
