:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/JUCTR6REGZHRBJVDP2TG4WK5KM.jpg "The opening value of the euro in Canada this October 11 from EUR to CAD")
After the opening of the markets, the euro is priced at the start 1.34 Canadian dollars on averagewhich implied a variation of 0.21% compared to the 1.34 Canadian dollar on average the day before.
Regarding the last seven days, the euro records a fall 0.36%so that for a year there is still a decrease in 6.47%. Regarding the previous days, it adds two sessions in a row in green. During the last week, the volatility is significantly lower than that accumulated over the last year, so we can say that it is recently going through a period of greater stability.
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 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 managed to position itself as the top trading partner of the United States at the end of 2021, with a 14.5% share against 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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