The foreign exchange market in Canada is dominated by the US dollar. (Infobae)
In the last day the US dollar was negotiated at closing 1.39 Canadian dollars on averagewhich represented a change of 0.81% compared to the 1.38 Canadian dollars of the previous session.
Regarding the last seven days, the US dollar scores a promotion of 0,03%% and in the last year it still maintains an increase in 4,3%.
If we compare the figure with previous days, with this value it interrupted the negative streak that it had in the previous three days. The volatility figure presented a significantly higher performance than the volatility shown in the last year’s data, therefore it presents greater changes than the general trend of the value.
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 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.
Today the Canadian coins of 1, 5, 10 and 25 are used cents1 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 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 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.
