The US dollar traded at the close at 1.28 Canadian dollars, up 0.67 per cent from 1.27 Canadian dollars the previous day.
Taking into account last week, the US dollar recorded a decline of 0.46%; on the contrary, in the last year it still accumulated a rise of 6.14%. If we compare the value with previous days, with this figure he stopped the flat streak he had in the previous four days. Volatility compared to the last week showed a higher performance than the volatility shown in the last year's figures, so it is showing a more unstable behavior.
In the annual photo, the US dollar has even changed by a high of 1.29 Canadian dollars, while its lowest level has been 1.25 Canadian dollars. The US dollar is positioned closer to its value than to the minimum.
The Canadian currency
The Canadian dollar is the official currency unit in Canada, it is represented under 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 until 1871 that the monetary unification of all Canadian provinces was approved to use the dollar, finally abolishing the gold standard in 1933.
Today, Canadian coins of 1, 5, 10 and 25 cents, 1 and 2 dollars are used, which are issued by the Royal Canadian Mint; on the other hand, 5, 10, 20, 50, 100 and 1000 dollar notes are issued by the Bank of Canada and are produced in Ottawa.
In the economic sector, the Organization for Economic Cooperation and Development (OECD) recently confirmed that Canada has passed its tipping point and is heading for a period of moderate growth, following the hard blow that the coronavirus pandemic represented.
On the other hand, Canada has also managed to position itself as the main trading partner of the United States at the end of 2021, with a 14.5% share of the nation's 15 main partners.
The International Monetary Fund (IMF) expects Canada to grow by 4.1% by 2022 and by 2023 to grow by 2.8%, which would mean a slowdown after 4.7% in 2021.
Agencies
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