The value of the euro in Canada closed on January 4 from the euro to the Canadian dollar

The euro is the second most important currency in Canadian territory. (information)

he euro Paid at closing for 1.46 CAD on averageWhich means a change of 0.25% compared to 1.46 CAD on average the previous day.

Taking into account last week, euro Accumulates an increase of 0.03%; Despite this, last year there was still a decline in 0.53%.

Compared to previous days, it added two consecutive sessions with positive numbers. Referring to last week's volatility, it was 2.74%, which is noticeably lower than the annual volatility figure (5.82%), so it has a more stable behavior than usual recently.

he Canadian dollar It is the official monetary unit of Canada, and the abbreviation CAD is used to refer to it, which is divided into 100 cents.

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

It was July 1, 1858 when the authorities ordered the issuance of the first Canadian dollar, which was adopted on the decimal system in the following years. However, this did not happen until 1871 Monetary unification was approved All Canadian provinces to use the dollar, finally abolishing the gold standard in 1933.

Canadian coins numbered 1, 5, 10 and 25 are currently used cents, 1 and 2 dollars, issued by the Royal Canadian Mint; On the other hand, banknotes in denominations of 5, 10, 20, 50, 100 and 1000 dollars are issued by the Bank of Canada and produced in Ottawa.

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In economic matters, the Organization for Economic Co-operation and Development (OECD) recently confirmed this Canada has passed the tipping point It is heading towards a period of moderate growth, after the severe blow dealt by the SARS-CoV-2 pandemic.

On the other hand, Canada was also able to position itself as a major trading partner of the United States at the end of 2021, with a 14.5% share of the country's 15 major partners.

he International Monetary Fund The International Monetary Fund expects Canada to grow by 4.1% in 2022, and by 2023 by 2.8%, which means a slowdown after the 4.7 reached in 2021.

Sacha Woodward

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