During the last session, the euro listed at the close of 1.30 Canadian dollars on averagewhich implied a variation of 0.18% compared to 1.31 Canadian dollars on average during the previous session.

Compared to last week, the euro marks a decrease of 0.98%so that last year it still maintains a decline of 9.51%. If we compare the data with the previous days, it has reversed the situation compared to the previous day, in which an increase of 0.81% was noted, without being able to establish a clear trend recently. Volatility referring to the past week has performed less than the volatility that last year’s data has shown, so it has a more stable behavior than the general trend indicates lately.

canadian currency

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 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.

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.

Regarding the economy, 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 severe blow represented by the SARS-CoV-2 pandemic.

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.

We recommend you :

information