On the last day, the US dollar traded at the close at 1.26 Canadian dollars on average, implying a decrease of 0.39% compared to 1.27 Canadian dollars on average the previous day.
In the last week, the US dollar marked a decline of 0.92%; however, in year-on-year terms, it still retains a rise of 4.4%. If we compare the value with previous days, he chained three sessions in a row in decline. In the last week, volatility was 6.87%, which is higher than the annual volatility figure (6.17%), so it shows greater changes than the general trend in value.
In the annual photo, the US dollar has reached a maximum of 1.29 Canadian dollars on average, while its lowest level has been 1.25 Canadian dollars on average. The US dollar is placed closer to its low than its maximum.
Canadian Dollar
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 history of the country, after it replaced the British pound sterling, the Spanish dollar and the peso.
It was on July 1, 1858 when the authorities ordered the printing 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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