The US dollar is paid at the opening at 1.26 Canadian dollars on average, which was 0.02% compared to the previous day's figure, which was 1.26 Canadian dollars on average.
Over the past seven days, the US dollar has registered a decrease of 0.65%; however, in the last year it still accumulated a 3.4% increase. Compared to past days, it reverses the value of the previous day, when it resulted in a decrease of 0.04%, showing in recent days an absence of continuity in the result. The volatility for the last week is visibly lower than the numbers achieved for the last year (6.16%), showing itself as a value with fewer variations than expected in recent dates.
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 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 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 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.
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