:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/WYP4NCUBIFC45K4NMCDSKI6DLY.jpg "The opening value of the euro in Canada this November 11 from EUR to CAD")
After the opening of the markets, the euro is paid at the start 1.37 Canadian dollars on averagea variation of 0.54% compared to the average of 1.36 CAD for the previous session.
In the past seven days, the euro recorded an increase of 1.83%; On the other hand, during the last year, it still accumulates a decrease of 5.43%.
Concerning the variations of this day compared to the past days, it connects six consecutive sessions of rise. The volatility of the last seven days is significantly lower than the data obtained for the last year (7.07%), presenting itself as a value with less variation than normal in recent days.
The Canadian Recovery
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; 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 it is heading for a period of moderate growth, after the blow caused by the coronavirus 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 nation’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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