After opening the American dollar It is negotiated at the beginning of operations 1.37 Canadian dollars on averagewhich represented a decrease of 0.09% compared to the price of the previous session, when it ended with 1.37 Canadian dollars.
In relation to the last seven days, the American dollar accumulates a drop in 0.05%%; despite this, for a year now it has still maintained an increase of 3.07%.
Compared to past days, there are notable fluctuations in its price according to the data. Regarding the volatility of the last few days, it is visibly lower than the data obtained for the last year (4.96%), so in this last phase it is trending less alterations 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 printing 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 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.
