The euro is quoted at the start of the day today at 1.30 Canadian dollars on averagewhich represents a variation of 0.42% compared to 1.31 Canadian dollars on average during the previous session.

In the past seven days, the euro accumulates a drop of 0.99%so that last year it still maintains a decrease of 9.21%. If we compare the figure with the previous days, it changes the meaning of the previous data, in which it marked an increase of 0.74%, without being able to define a trend defined in the last dates. The volatility figure is 5.76%, which is lower than the annual volatility figure (6.76%), which shows that it can be said to be going through a period of greater stability in recent days.

canadian currency

The Canadian dollar It is the official monetary unit in Canada, it is represented by the acronym CAD and 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; 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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