The US dollar is trading at the opening at 1.26 Canadian dollars on average, implying a decrease of 0.17% compared to the value of the previous day, when it traded at 1.26 Canadian dollars on average.
Taking into account the last seven days, the US dollar marked a decline of 1.39%; despite this in the last year it still maintains a rise of 3.67%. In relation to the variations of this day compared to previous days, it reverses the figure for the previous day, in which it closed with a rise of 0.18%, showing that it is not able to establish a clear trend in recent days. In the last week, volatility shows a clearly lower balance than the volatility reflected in last year's data, which indicates that we can say that it is going through a period of greater stability lately.
In the annual photo, the US dollar has even changed by a high 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 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.
Agencies
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