:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/5XB3CLHOUJFNPJWABG3QCEDPKM.jpg "Closing rate of the euro in Canada this December 16 from EUR to CAD")
The euro was traded at the close of 1.45 Canadian dollars on averagewhich implied a fall of 0.16% compared to the 1.45 Canadian dollar on average the day before.
With reference to the profitability of the last seven days, the euro recorded an increase of 0.95% and in annual terms, it still maintains an increase of 5.24%.
As for the changes on this day compared to previous days, this ended four sessions of a positive streak. The volatility referring to the last week is notoriously lower than the figures reached for the last year (7.18%), which shows that in this last phase there are fewer alterations than the general trend indicates.
Canadian currency
The Canadian dollar It is the official monetary unit in Canada, to refer to it the initials CAD are 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 minting 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; however, $5, $10, $20, $50, $100 and $1,000 notes are issued by the Bank of Canada and are 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 it is heading for a period of moderate growth, after the blow caused by the coronavirus pandemic.
On the other hand, it is also necessary that Canada has succeeded in positioning itself as the main trading partner of the United States at the end of 2021, with a participation of 14.5% compared to the 15 main partners of the country.
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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