Closing rate of the Euro in Canada on July 8th EUR to CAD

Closing rate of the Euro in Canada on July 8th EUR to CAD
Closing rate of the Euro in Canada on July 8th EUR to CAD

The euro is the second most important currency in Canada. (Infobae)

He euro was paid at closing to 1.48 Canadian dollars on averagewhich represented a change of 0.02% compared to the previous session’s figure, when it closed at 1.48 Canadian dollars.

In relation to the last week, the euro accumulates an increase of 0,37%%so that in the last year it has accumulated an increase of 0,48%.

If we compare the figure with previous days, it has accumulated two consecutive dates of decline. Regarding the volatility of the last week, it was 4.04%, which is a figure lower than the annual volatility figure (5.06%), showing itself as a value with less variations than expected recently.

He Canadian dollar It is the official monetary unit in Canada, represented by the acronym CAD and subdivided into 100 cents.

It should be noted that the Canadian dollar has been used for almost the entire history of the country, after it replaced the British pound sterling, the Spanish dollar and the peso.

It was on July 1, 1858 that 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, Canadian coins of 1, 5, 10 and 25 are used. cents$1 and $2 notes, which are issued by the Royal Canadian Mint; the $5, $10, $20, $50, $100 and $1,000 notes are issued by the Bank of Canada and are produced in Ottawa.

In economic matters, the Organization for Economic Cooperation and Development (OECD) recently confirmed that Canada has passed its tipping point and is heading towards a period of moderate growth, after the hard blow represented by the SARS-CoV-2 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) expects Canada to grow by 4.1% in 2022 and 2.8% in 2023, which would mean a slowdown after the 4.7% achieved in 2021.

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