February 26, 2024

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Dollar Opening in Canada: Find out what the exchange rate is on February 28th

The US dollar Quoted at the beginning 1.27 Canadian dollarsIt was down 0.39% from the previous day’s $ 1.28.

Last week, The US dollar Accumulates a drop 0.5%; Nevertheless, for a year it still maintains a high 5.53%. With regard to the variations of this day with respect to past days, the direction of the previous decision is changing, where in recent times a stable trend could not be established and marked an increase of 0.82%. The volatility is much lower than it accumulated in the last year, so it offers larger variations than the general trend of value.

In the annual photo, The US dollar It was converted to a high of C $ 1.28, while its lowest level was C $ 1.25. The US dollar Is closer to its value than the minimum value.

Canadian currency

The Canadian dollar It is the official currency of Canada, denoted by the abbreviation CAD and denominated in 100 cents.

It should be noted that after the conversion of the Canadian dollar to the British pound sterling, the Spanish dollar and the peso were used almost throughout the history of the country.

On July 1, 1858, the authorities ordered the first Canadian dollars to be printed, which were adopted for the decimal system in subsequent years. However, that was not until 1871 Cash consolidation approved All Canadian provinces use the dollar, and finally abolished the gold standard in 1933.

Today 1, 5, 10 and 25 Canadian coins are used St., $ 1 and $ 2, supplied by the Royal Canadian Mint; On the other hand, $ 5, 10, 20, 50, 100 and $ 1,000 bills are issued by the Bank of Canada and are made in Ottawa.

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With regard to the economy, it was recently confirmed by the Organization for Economic Co-operation and Development (OECD). Canada has crossed its key point And after a severe stroke marked by Govit-19 infection, progresses to a period of moderate development.

Canada, on the other hand, was able to establish itself as a key trading partner of the United States by the end of 2021, with 14.5% participation among the country’s 15 key partners.

The International Monetary Fund (IMF) predicts that Canada will grow to 4.1% in 2022 and 2.8% in 2023, after the recession of 4.7 in 2021.

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Agencies