Canadian dollar
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Canadian dollar
| ISO 4217 | |
|---|---|
| Code | CAD (numeric: 124 ) |
| Subunit | 0.01 |
| Unit | |
| Plural | |
| Symbol | $ |
| Nickname | Loonie (for the $1 coin) |
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The Canadian dollar (symbol: $; code: CAD) is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes CA$, Can$ or C$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.
History
The Canadian dollar was created in 1858, replacing the Canadian pound. The Bank of Canada was established in 1934 and began issuing notes in 1935. The Royal Canadian Mint produces all Canadian coins.
Coins
Canadian coins are produced by the Royal Canadian Mint in Winnipeg, Manitoba. The most commonly used coins are the 5¢ (nickel), 10¢ (dime), 25¢ (quarter), $1 (loonie), and $2 (toonie).
Banknotes
Canadian banknotes are issued by the Bank of Canada. The current series of banknotes, known as the Frontier Series, includes denominations of $5, $10, $20, $50, and $100.
Exchange Rates
The value of the Canadian dollar is determined by foreign exchange markets. It is often compared to the United States dollar (USD), Euro (EUR), and other major currencies.
Economy
The Canadian dollar is an important currency in the global economy, particularly in the commodity markets. Canada is a major exporter of natural resources such as oil, natural gas, and minerals.
See also
Related Pages
Template:NorthAmerican currencies
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