The US dollar was paid at the close at 1.27 Canadian dollars, down 0.69% compared to 1.28 Canadian dollars the previous day.
In the last week, the US dollar marked a decline of 0.72%; however, for a year it has still maintained an increase of 4.67%. Analyzing this data with that of last days, he added two consecutive days in negative. In reference to the volatility of the last week, it was 6.79%, which is higher than the annual volatility figure (6.16%), presenting itself as an asset with greater variations than normal.
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 low than to its maximum.
The Canadian dollar is the official currency unit in Canada, to refer to it the acronym CAD is used 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 issuance 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.
Currently, 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.
On the economic side, 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 severe blow of the COVID-19 pandemic.
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.
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