Today the American dollar is quoted at the beginning of the day 1.37 Canadian dollars on averagewhich implied a decrease of 0.12% compared to the previous day’s price, when it marked 1.37 Canadian dollars.
In the last seven days, the American dollar marks a drop in 0.32%% although, on the contrary, in the last year it still maintains an increase in 3.98%.
Compared to previous days, there are four consecutive sessions in negative numbers. In the last week the volatility is 0.85%, which is a figure visibly lower than the annual volatility figure (5%), showing itself as a value with less variations than normal lately.
He Canadian dollar It is the official monetary unit in Canada, the acronym CAD is used to refer to it and it 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 creation 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.
Currently 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 the economic branch, 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 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.
