On the last day the American dollar quoted at closing 1.38 Canadian dollars on averageso that it represented a change of 0.02% with respect to the price of the previous day, when it was quoted at 1.38 Canadian dollars.
If we consider the data of the last seven days, the American dollar registers an increase of 0.45%% and in the last year it still accumulates an increase in 4.32%.
In relation to the changes of this day compared to previous days, it chained three consecutive negative sessions. The volatility of the last seven days was 4.47%, which is a figure lower than the annual volatility figure (5.06%), so in this last phase it is trending less variations than usual.
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 issuance 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.
Regarding the economy, 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 COVID-19 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 country’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.
