:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/5XHRIBUJY5DRXH5P4AGGFCLWAU.jpg "Closing rate of the euro in Canada this January 16 from EUR to CAD")
During the last day, the euro was listed at the close of 1.45 Canadian dollars on averagewhich implied a variation of 0.09% compared to the 1.45 Canadian dollar on average the day before.
Referring to last week’s profitability, the euro gets a promotion from 0.39% and in annual terms, it still maintains a rise of 5.79%.
If we compare the figure with the previous days, it overturned the previous day’s result when it saw a drop of 0.01%, showing a lack of stability in the result in recent days. The volatility of the last seven days was obviously lower than that accumulated over the last year, so it has a more stable behavior than what the general trend indicates recently.
The Canadian recovery
The Canadian dollar It is the official monetary unit in Canada, it is represented by the initials CAD 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 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; however, $5, $10, $20, $50, $100 and $1,000 notes are issued by the Bank of Canada and are 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 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 2.8% in 2024, which would mean a slowdown from the 4.7 reached in 2021.
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