Exchange rates used for currency conversion updated on 17th May 2012 ( 17/05/2012 )
Below you will find the latest exchange rate for exchanging Euro (EUR) to Canadian Dollar (CAD) , a table containing most common Euro / Canadian Dollar conversions and a EUR/CAD chart with the pair's evolution.
The Euro (EUR) to Canadian Dollar (CAD) rates are updated every minute using our advanced technology for live forex currency conversion.
*Disclaimer: AVERAGE intraday quotes were used for this conversion. The exchange rate the system calculated between Euro and Canadian Dollar on 17/05/2012 is 1 EUR = 1.2946 CAD
Governed by the Eurosystem, comprised of the European Central Bank and the central banks of each represented member state, the euro is a currency that reflects an aggregate of 17 of the 27 European Union member states. It is the second most used world reserve currency, involved in over 20% of traded currency pairs, used by over 500 million people worldwide, the largest worldwide currency in circulation, and its member states represent 14.6% of world GDP.
About Canadian Dollar (CAD)
The Bank of Canada manges the circulation and monetary policy of the floating yet highly dependent currency. The Canadian dollar (CAD) is heavily intertwined with economic developments in the United States and the USD this is compounded with the high trade dependence Canada shares with the US and is only mitigated by the price of commodities such as oil in which Canada is a net exporter and therefore can leverage these exports to support the CAD independent of the USD. The Bank of Canada follows its mandate of promoting the economic well being of the nation in juxtaposition to the mandate of many central banks as price stability.