After the opening of the markets, the euro is traded today at 1.41 Canadian dollars on averagewhich represents a decrease of 0.34% compared to the 1.41 Canadian dollars on average in the previous session.

Considering the last seven days, the euro recorded an increase of 1.4%so that in the past year it still maintains a rise of 0.35%.

Compared to past days, it reverses the situation compared to the day before, where an increase of 0.3% was recorded, without being able to establish a stable trend in recent days. Over the past week, volatility is higher than that accumulated over the past year, indicating that it exhibits larger changes than the overall trend in value.

The Canadian recovery

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.

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 severe blow represented by the SARS-CoV-2 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 nation.

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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