:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/SOMVJ2N64JCB3MQZSCCRUIS7R4.jpg "Closing rate of the euro in Canada this January 19 from EUR to CAD")
The euro was listed at the close of 1.46 Canadian dollars on averageso it implied a change of 0.05% from the previous session’s figure, when it closed at C$1.46 on average.
Considering last week, the euro mark a rise 0.5%so that year-over-year there is still an increase of 7.01%.
Compared to past days, it added two consecutive dates of positive numbers. The volatility of the last seven days was lower than that accumulated last year, which shows that it can be said that it is going through a period of greater stability lately.
Canadian currency
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.
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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