:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/QRMKDZ4W6FFPJJFFA7GBVNII3E.jpg "Closing rate of the euro in Canada this October 17 from EUR to CAD")
During the last session, the euro was traded at closing 1.35 Canadian dollars on averagewhich implied a variation of 0.11% compared to the value of the previous session, when it stood at 1.35 Canadian dollars on average.
Looking at last week’s data, the euro recorded an increase of 0.93% even if, on the contrary, for a year, it always maintains a drop in 4.51%. If we compare the figure with the previous days, it reversed the data of the previous day, where it closed with a drop of 0.36%, without being able to establish a stable trend recently. Over the past week, volatility has exhibited a significantly lower behavior than the volatility shown in last year’s numbers, presenting as a value with less change than expected in recent days.
Canadian dollar
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 issue 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; 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 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.
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