He American dollar is quoted at the beginning of the day today 1.37 Canadian dollars on averagewhich implied a change of 0.22% compared to the value of the previous session, when it closed with 1.37 Canadian dollars.
If we consider the data from the last week, the American dollar marks an increase in 0.04%which is why for a year it has still maintained an increase in 1.99%.
If we compare the figure with previous days, it adds up to two consecutive sessions of decline. The volatility of the last seven days is clearly lower than that accumulated in the last year, so we can say that it is going through a period of greater stability in recent times.
He 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, after it replaced the British pound sterling, the Spanish dollar and the peso.
It was on July 1, 1858 when the authorities ordered the minting of the first Canadian dollars, which were adopted to a decimal system in the following years. However, it was not until 1871 that monetary unification was approved of all Canadian provinces to use the dollar, finally abolishing the gold standard in 1933.
Today the Canadian coins of 1, 5, 10 and 25 are used cents, 1 and 2 dollars, which are issued by the Royal Canadian Mint; On the other hand, the 5, 10, 20, 50, 100 and 1,000 dollar bills are issued by the Bank of Canada and are produced in Ottawa.
In economic matters, recently the Organization for Economic Cooperation and Development (OECD) confirmed that Canada has passed its tipping point and is heading towards a period of moderate growth, after the hard blow of the coronavirus pandemic.
On the other hand, Canada also managed to position itself as the United States’ main trading partner at the end of 2021, with a 14.5% share of the nation’s 15 main partners.
He International Monetary Fund (IMF) predicts that Canada will grow by 4.1% in 2022 and by 2023 by 2.8%, which would mean a slowdown after the 4.7 reached in 2021.
