On the last day, the US dollar traded at the close at 1.26 Canadian dollars on average, a 0.12% decline from the previous day, when it closed with 1.26 Canadian dollars on average.
If we consider the data for the last week, the US dollar is down 1.34%; although for a year it has still maintained a rise of 3.71%. Regarding past days, it turned the tables compared to the previous day, where it marked an increase of 0.18%, showing that it is unable to settle a trend recently. The volatility of the last seven days showed a manifestly lower return than the volatility reflected in last year's figures, so we can say that it is going through a period of greater stability in recent times.
In the last year, 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 positioned closer to its minimum value than to the 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 minting 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.
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 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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