At the beginning of the day, the US dollar traded at the opening at 1.26 Canadian dollars on average, accounting for 0.05% compared to 1.26 Canadian dollars on average the previous day.
Over the past seven days, the US dollar registered a decline of 0.92%, although, on the contrary, in the last year it still maintained a rise of 3.82%. If we compare the figure with past days, it adds up to four sessions in a row of descent. In the last week, volatility shows a higher performance than the volatility shown in the last year's figures, therefore it shows greater variations 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.
The Canadian recovery
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 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 front, 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 of the SARS-CoV-2 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 country'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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