Dollar: opening price today May 30 in Canada

The foreign exchange market in Canada is dominated by the US dollar. (Infobae)

After the opening of the markets, the US dollar is paid at the beginning of operations at 1.36 Canadian dollars on average, so that it implied a change of 0.14% compared to the price of the previous session, when it ended with 1.36 dollars Canadians on average.

In the last week, the American dollar marks a rise of 0.1%, so that from a year ago it still maintains a rise of 5.09%.

Regarding the variations of this day with respect to previous dates, it puts an end to three sessions of negative streak. In reference to the volatility of the last week, it is visibly lower than that accumulated in the last year, so it is having a more stable behavior than usual recently.

The Canadian dollar is the official monetary unit in Canada, it is represented under the initials 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 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 not until 1871 that the monetary unification of all Canadian provinces to use the dollar was approved, finally abolishing the gold standard in 1933.

Today the 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, the $5, $10, $20, $50, $100, and $1,000 bills are issued by the Bank of Canada and are produced in Ottawa.

As for the economy, the Organization for Economic Cooperation and Development (OECD) recently confirmed that Canada has passed its tipping point and is headed for a period of moderate growth, after the severe blow caused by the SARS-pandemic. CoV-2.

On the other hand, it is also necessary that Canada managed to position itself as the main trading partner of the United States at the end of 2021, with a participation of 14.5% compared to the 15 main partners of the nation.

The International Monetary Fund (IMF) forecasts that Canada will grow by 4.1% in 2022 and by 2023 it will grow by 2.8%, which would mean a slowdown after the 4.7 reached in 2021.

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