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Canadian dollar
The Canadian dollar (symbol: $; code: CAD; French: dollar
Canadian dollar
canadien) is the currency of Canada. It is abbreviated with the
dollar sign $. There is no standard disambiguating form, but Dollar canadien (French)
the abbreviations Can$, CA$ and C$ are frequently used for Can$, C$, CA$, CDN$, CAD
distinction from other dollar-denominated currencies (though
C$ remains ambiguous with the Nicaraguan
[1][2][3][a]
córdoba). It is divided into 100 cents (¢).

Owing to the image of a common loon on its reverse, the dollar

coin, and sometimes the unit of currency itself, may be
referred to as the loonie by English-speaking Canadians and
foreign exchange traders and analysts.[4]

Accounting for approximately 2% of all global reserves, the 2011 Frontier series (polymer notes)
Canadian dollar is the sixth-most held reserve currency in the ISO 4217
world, behind the U.S. dollar, euro, yen, sterling, and
Code CAD (numeric: 124)
renminbi.[5] The Canadian dollar is popular with central banks
because of Canada's relative economic soundness, the Subunit 0.01

Canadian government's strong sovereign position, and the Unit

stability of the country's legal and political Unit dollar
systems. [6][7][8][9][10]
Symbol $‎
Nickname Loonie, buck (in
History English)
Huard, piastre
(pronounced piasse
Colonial currencies
in popular usage)
The 1850s in Canada were a decade of debate over whether to (in French)
adopt a £sd-based monetary system or a decimal monetary Denominations
system based on the US dollar. The British North American
Subunit
provinces, for reasons of practicality in relation to the
1
increasing trade with the neighbouring United States, had a ⁄100 Cent
desire to assimilate their currencies with the American unit, (in English) and sou
but the imperial authorities in London still preferred sterling (colloquial in
as the sole currency throughout the British Empire. The French)
British North American provinces nonetheless gradually Symbol
adopted currencies tied to the American dollar. Cent ¢
Banknotes $5, $10, $20, $50,
$100
Coins

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Currencies used in Canada and its predecessors Freq. used 5¢, 10¢, 25¢, $1, $2
Value in (pre- Value in Rarely used 1¢ (discontinued,
Dates in
Currency decimal) Canadian
use still legal tender),
sterling dollars
50¢ (still minted)
1841–
Canadian pound 16s 5.3d $4 Demographics
1858

1858– Official user(s) Canada

Canadian dollar
present
Unofficial user(s) St. Pierre and
New Brunswick 1860– Miquelon
dollar 1867
4s 1.3d $1 Issuance
British Columbia 1865–
dollar 1871 Central bank Bank of Canada

Prince Edward 1871– Website www.bankofcanada

Island dollar 1873 .ca (https://www.ban
Nova Scotian 1860– kofcanada.ca)
4s $0.973
dollar 1871
Printer Canadian Bank
1865– Note Company
4s 2d $1.014
Newfoundland 1895
dollar
Website www.cbnco.com (htt
1895–
4s 1.3d $1 ps://www.cbnco.co
1949
m)
Mint Royal Canadian
Province of Canada Mint
In 1841, the Province of Canada adopted a new system based Website www.mint.ca (http
on the Halifax rating. The new Canadian pound was equal to s://www.mint.ca)
four US dollars (92.88 grains gold), making £1 sterling equal
Valuation
to £1.4s.4d. Canadian. Thus, the new Canadian pound was
worth 16 shillings and 5.3 pence sterling. Inflation 2.7% (April 2024)
Source [1] (https://www150.
In 1851, the Parliament of the Province of Canada passed an statcan.gc.ca/n1/dai
act for the purposes of introducing a sterling-based unit, with ly-quotidien/240521/
decimal fractional coinage. The idea was that the decimal dq240521a-eng.ht
coins would correspond to exact amounts in relation to the m)
U.S. dollar fractional coinage.
Method Consumer price
index
In response to British concerns, in 1853, an act of the
Parliament of the Province of Canada introduced the gold
standard into the colony, based on both the British gold sovereign
and the American gold eagle coins. This gold standard was
introduced with the gold sovereign being legal tender at £1 =
US$4.862⁄3. No coinage was provided for under the 1853 act.
Sterling coinage was made legal tender and all other silver coins A Province of Canada one-dollar
were demonetized. The British government in principle allowed note issued by the Colonial Bank of
for a decimal coinage but nevertheless held out the hope that a Canada, 1859
sterling unit would be chosen under the name of "royal". However,
in 1857, the decision was made to introduce a decimal coinage into
the Province of Canada in conjunction with the U.S. dollar unit. Hence, when the new decimal coins
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were introduced in 1858, the colony's currency became aligned with the U.S. currency, although the
British gold sovereign continued to remain legal tender at the rate of £1 = Can$4.862⁄3 right up until
the 1990s. In 1859, Canadian colonial postage stamps were issued with decimal denominations for the
first time. In 1861, Canadian postage stamps were issued with the denominations shown in dollars
and cents.

Maritime colonies
In 1860, the colonies of New Brunswick and Nova Scotia followed the Province of Canada in adopting
a decimal system based on the U.S. dollar unit.

In 1871, Prince Edward Island went decimal within the U.S. dollar unit and introduced coins in the
denomination of 1 cent. However, the currency of Prince Edward Island was absorbed into the
Canadian system shortly afterwards, when Prince Edward Island joined the Dominion of Canada in
1873.

Newfoundland
Newfoundland went decimal in 1865, but unlike the Province of Canada, New Brunswick, and Nova
Scotia, it decided to adopt a unit based on the Spanish dollar rather than on the U.S. dollar, and there
was a slight difference between these two units. The U.S. dollar was created in 1792 on the basis of the
average weight of a selection of worn Spanish dollars. As such, the Spanish dollar was worth slightly
more than the U.S. dollar, and likewise, the Newfoundland dollar, until 1895, was worth slightly more
than the Canadian dollar.

British Columbia
The Colony of British Columbia adopted the British Columbia dollar as its currency in 1865, at par
with the Canadian dollar. When British Columbia joined Canada as its sixth province in 1871, the
Canadian dollar replaced the British Columbia dollar.

Post-Confederation history
In 1867, the Province of Canada, New Brunswick, and Nova Scotia united into a federation named
Canada. As a result, their respective currencies were merged into a singular Canadian dollar. The
Canadian Parliament passed the Uniform Currency Act in April 1871,[11] tying up loose ends as to the
currencies of the various provinces and replacing them with a common Canadian dollar.

The gold standard was temporarily abandoned during World War I and definitively abolished on April
10, 1933. At the outbreak of World War II, the exchange rate to the U.S. dollar was fixed at Can$1.10 =
US$1.00. This was changed to parity in 1946. In 1949, sterling was devalued and Canada followed,
returning to a peg of Can$1.10 = US$1.00. However, Canada allowed its dollar to float in 1950,
whereupon the currency rose to a slight premium over the U.S. dollar for the next decade. But the
Canadian dollar fell sharply after 1960 before it was again pegged in 1962 at Can$1.00 = US$0.925.

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This was sometimes pejoratively referred to as the "Diefenbuck" or the "Diefendollar", after the then
Prime Minister, John Diefenbaker. This peg lasted until 1970, with the currency's value being floated
since then.

Terminology
Canadian English, similar to American English, used the slang
term "buck" for a former paper dollar. The Canadian origin of this
term derives from a coin struck by the Hudson's Bay Company
during the 17th century with a value equal to the pelt of a male
beaver – a "buck".[12] Because of the appearance of the common
loon on the back of the $1 coin that replaced the dollar bill in 1987, The one- and two-dollar coins,
the word loonie was adopted in Canadian parlance to distinguish nicknamed the loonie and toonie
the Canadian dollar coin from the dollar bill. When the two-dollar
coin was introduced in 1996, the derivative word toonie ("two
loonies") became the common word for it in Canadian English slang.

In French, the currency is also called le dollar; Canadian French slang terms include piastre or piasse
(the original word used in 18th-century French to translate "dollar") and huard (equivalent to loonie,
since huard is French for "loon," the bird appearing on the coin). The French pronunciation of cent
(pronounced similarly to English as /sɛnt/ or /sɛn/, not like the word for hundred, /sɑ̃/ or /sã/)[13] is
generally used for the subdivision; sou is another, informal, term for 1¢. 25¢ coins in Quebec French
are often called trente sous ("thirty cents") because of a series of changes in terminology, currencies,
and exchange rates. After the British conquest of Canada in 1760, French coins gradually went out of
use, and sou became a nickname for the halfpenny, which was similar in value to the French sou.
Spanish dollars and U.S. dollars were also in use, and from 1841 to 1858, the exchange rate was fixed
at $4 = £1 (or 400¢ = 240d). This made 25¢ equal to 15d, or 30 halfpence (trente sous). After
decimalization and the withdrawal of halfpenny coins, the nickname sou began to be used for the 1¢
coin, but the idiom trente sous for 25¢ endured.[14]

Coins
Coins are produced by the Royal Canadian Mint's facilities in
Winnipeg, Manitoba, and Ottawa, Ontario, in denominations of 5¢
(nickel), 10¢ (dime), 25¢ (quarter), 50¢ (50¢ piece) (though the
50¢ piece is no longer distributed to banks and is only available
directly from the mint, therefore seeing very little circulation), $1
(loonie), and $2 (toonie). The last 1¢ coin (penny) to be minted in
Canada was struck on May 4, 2012,[15] and distribution of the
penny ceased on February 4, 2013.[16] Ever since, the price for a
cash transaction is rounded to the nearest five cents. The penny The Royal Canadian Mint
continues to be legal tender, although they are only accepted as production facility in Winnipeg
payment and not given back as change.

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The standard set of designs has Canadian symbols, usually wildlife, on the reverse, and an effigy of
Elizabeth II on the obverse. Some pennies, nickels, and dimes remain in circulation that bear the
effigy of George VI. It is also common for American coins to be found among circulation due to the
close proximity to the United States and the fact that the sizes of the coins are similar.
Commemorative coins with differing reverses are also issued on an irregular basis, most often
quarters. 50¢ coins are rarely found in circulation; they are often collected and not regularly used in
day-to-day transactions in most provinces.

Coin history
In 1858, bronze 1¢ and 0.925 silver 5¢, 10¢ and 20¢ coins were
issued by the Province of Canada. Except for 1¢ coins struck in
1859, no more coins were issued until 1870, when production of
the 5¢ and 10¢ was resumed and silver 25¢ and 50¢ were
introduced. Between 1908 and 1919, sovereigns (legal tender in
Canada for $4.862⁄3) were struck in Ottawa with a "C" mintmark. Engraving of a Canadian fifty-cent
coin, issued in 1871
Canada produced its first gold dollar coins in 1912 in the form of
$5 and $10. These coins were produced from 1912 to 1914. The
obverse carries an image of King George V and on the reverse is a shield with the arms of the
Dominion of Canada. Gold from the Klondike River valley in the Yukon accounts for much of the gold
in the coins.

Two years into the coin's production World War I began and production of the coins stopped in favour
of tighter control over Canadian gold reserves. Most of the 1914 coins produced never reached
circulation at the time and some were stored for more than 75 years until being sold off in 2012. The
high quality specimens were sold to the public and the visually unappealing ones were melted.[17]

In 1920, the size of the 1¢ was reduced and the silver fineness of the 5¢, 10¢, 25¢ and 50¢ coins was
reduced to 0.800 silver/.200 copper. This composition was maintained for the 10¢, 25¢ and 50¢ piece
through 1966, but the debasement of the 5¢ piece continued in 1922 with the silver 5¢ being entirely
replaced by a larger nickel coin. In 1942, as a wartime measure, nickel was replaced by tombac in the
5¢ coin, which was changed in shape from round to dodecagonal. Chromium-plated steel was used for
the 5¢ in 1944 and 1945 and between 1951 and 1954, after which nickel was readopted. The 5¢
returned to a round shape in 1963.

In 1935, the 0.800 silver voyageur dollar was

introduced. Production was maintained through
1967 with the exception of the war years between
1939 and 1945.
Five-cent coin, issued Five-cent coin, issued
In 1967 both 0.800 silver/0.200 copper and, later
1942 1964
that year, 0.500 silver/.500 copper 10¢ and 25¢
Several Canadian coins, like the five-cent coin,
coins were issued. 1968 saw further debasement:
underwent changes in composition and shape in the
20th century.
the 0.500 fine silver dimes and quarters were
completely replaced by nickel ones mid-year. All

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1968 50¢ and $1 coins were reduced in size and coined only in pure nickel. Thus, 1968 marked the last
year in which any circulating silver coinage was issued in Canada.

In 1982, the 1¢ coin was changed to dodecagonal, and the 5¢ was

further debased to a cupro-nickel alloy. In 1987 a $1 coin struck in
aureate-plated nickel was introduced. A bimetallic $2 coin
followed in 1996. In 1997, copper-plated zinc replaced bronze in
the 1¢, and it returned to a round shape. This was followed, in
2000, by the introduction of even cheaper plated-steel 1¢, 5¢, 10¢,
25¢ and 50¢ coins, with the 1¢ plated in copper and the others
plated in cupro-nickel. In 2012, the multi-ply plated-steel
technology was introduced for $1 and $2 coins as well. Also in that
year mintage of the 1¢ coin ceased and its withdrawal from
circulation began in 2013.
The last minted penny intended for
circulation, produced at the Royal
Banknotes Canadian Mint in Winnipeg in
The first paper money issued in Canada denominated in dollars 2012,[18] on display at the Bank of
Canada Museum in Ottawa
were British Army bills, issued between 1813 and 1815. Canadian
dollar banknotes were later issued by the chartered banks starting
in the 1830s, by several pre-Confederation colonial governments
(most notably the Province of Canada in 1866), and after
confederation, by the Canadian government starting in 1870.
Some municipalities also issued notes, most notably depression
scrip during the 1930s.[19]
An 1892 five-dollar note issued by
On July 3, 1934,[20] with only 10 chartered banks still issuing the Bank of Hamilton. Early
notes, the Bank of Canada was founded. This new government Canadian dollar notes were issued
agency became the sole issuer of all federal notes. In 1935, it by Canadian charter banks.
issued its first series of notes in denominations of $1, $2, $5, $10,
$20, $25, $50, $100, $500 and $1000. The $25 note was a
commemorative issue, released to mark the Silver Jubilee of King George V.[21] In 1944, the chartered
banks were prohibited from issuing their own currency, with the Royal Bank of Canada and the Bank
of Montreal among the last to issue notes.

Significant design changes to the notes have occurred since 1935,

with new series introduced in 1937, 1954, 1970, 1986, and 2001. In
June 2011, newly designed notes printed on a polymer substrate,
as opposed to cotton fibre, were announced; the first of these
polymer notes, the $100 bill, began circulation on November 14,
2011, the $50 bill began circulation on March 26, 2012, the $20
denomination began circulation on November 7, 2012, and the $5
and $10 denominations began circulation on November 12, 2013.
The Bank of Canada headquarters.
Since 1935, all banknotes are printed by the Ottawa-based The Bank of Canada is the sole
Canadian Bank Note Company under contract to the Bank of issuer of federal notes.

Canada. Previously, a second company, BA International (founded

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in 1866 as the British American Bank Note Company), shared printing duties. In 2011, BA
International announced it would close its banknote printing business and cease printing banknotes
at the end of 2012;[22] since then, the Canadian Bank Note Company has been the sole printer of
Canadian banknotes.

All banknotes from series prior to the current polymer series are now considered unfit for circulation
due to their lacking of any modern security features, such as a metallic stripe.[23] Financial
institutions must return the banknotes to the Bank of Canada, which will then destroy them.[23]
Individuals may keep the banknotes indefinitely.[24]

Legal tender
As of January 1, 2021, the $1, $2, $25, $500 and $1000 notes issued by the Bank of Canada are no
longer legal tender.[25] All other current and prior Canadian dollar banknotes issued by the Bank of
Canada remain as legal tender in Canada. However, commercial transactions may legally be settled in
any manner agreed by the parties involved.

Legal tender of Canadian coinage is governed by the Currency Act, which sets out limits of:[26]

$40 if the denomination is $2 or greater but does not exceed $10;

$25 if the denomination is $1;
$10 if the denomination is 10¢ or greater but less than $1;
$5 if the denomination is 5¢;
25¢ if the denomination is 1¢.
Retailers in Canada may refuse bank notes without breaking the law. According to legal guidelines,
the method of payment has to be mutually agreed upon by the parties involved with the transactions.
For example, stores may refuse $100 banknotes if they feel that would put them at risk of being
counterfeit victims; however, official policy suggests that the retailers should evaluate the impact of
that approach. In the case that no mutually acceptable form of payment can be found for the tender,
the parties involved should seek legal advice.[27]

Canadian dollars, especially coins, are accepted by some businesses in the northernmost cities of the
United States and in many Canadian snowbird enclaves, just as U.S. dollars are accepted by some
Canadian businesses.[28]

In 2012, Iceland considered adopting the Canadian dollar as a stable alternative to the Icelandic
króna.[29][30] Canada was favoured due to its northern geography and similar resource-based
economy, in addition to its relative economic stability.[31][32] The Canadian ambassador to Iceland
said that Iceland could adopt the currency; although Iceland ultimately decided not to move on with
the proposal.[33]

Value
Since 76.7% of Canada's exports go to the U.S., and 53.3% of imports into Canada come from the
U.S.,[34] Canadians are interested in the value of their currency mainly against the U.S. dollar.
Although domestic concerns arise when the dollar trades much lower than its U.S. counterpart, there

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is also concern among exporters when the

dollar appreciates quickly. A rise in the value of
the dollar increases the price of Canadian
exports to the U.S. On the other hand, there are
advantages to a rising dollar, in that it is
cheaper for Canadian industries to purchase
foreign material and businesses.

The Bank of Canada currently has no specific

target value for the Canadian dollar and has not
intervened in foreign exchange markets since The cost of one United States dollar in Canadian dollars
1998.[35] The Bank's official position is that from 1990
market conditions should determine the worth
of the Canadian dollar, although it occasionally
makes minor attempts to influence its value.

On world markets, the Canadian dollar

historically tended to move in tandem with the
U.S. dollar.[36] An apparently rising Canadian
dollar (against the U.S. dollar) was decreasing
against other international currencies; however,
during the rise of the Canadian dollar between
2002 and 2013, it gained value against the U.S.
dollar as well as other international currencies.
The cost of one Euro in Canadian dollars from 1999
In recent years, dramatic fluctuations in the
value of the Canadian dollar have tended to
correlate with shifts in oil prices, reflecting the Canadian dollar's status as a petrocurrency owing to
Canada's significant oil exports.[37]

The Canadian dollar traded at a record high of US$2.78 in terms of American greenbacks on July 11,
1864, since the latter was inconvertible paper currency.[38] However, the Canadian dollar remained
close to par or 1:1 versus the gold or silver US dollar of the time.

Unlike other currencies in the Bretton Woods system, whose values were fixed, the Canadian dollar
was allowed to float from 1950 to 1962. Between 1952 and 1960, the Canadian dollar traded at a slight
premium over the U.S. dollar, reaching a high of US$1.0614 on August 20, 1957.[38]

The Canadian dollar fell considerably after 1960, and this contributed to Prime Minister John
Diefenbaker's defeat in the 1963 election. The Canadian dollar returned to a fixed exchange rate
regime in 1962 when its value was set at US$0.925, where it remained until 1970.[38]

As an inflation-fighting measure, the Canadian dollar was allowed to float in 1970. Its value
appreciated and it was worth more than the U.S. dollar for part of the 1970s. The high point was on
April 25, 1974, when it reached US$1.0443.[39]

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The Canadian dollar fell in value against its American counterpart during the technological boom of
the 1990s that was centred in the United States, and was traded for as little as US$0.6179 on January
21, 2002, which was an all-time low.[40] Since then, its value against all major currencies rose until
2013, due in part to high prices for commodities (especially oil) that Canada exports.[41]

The Canadian dollar's value against the U.S. dollar rose sharply in 2007 because of the continued
strength of the Canadian economy and the U.S. currency's weakness on world markets. During
trading on September 20, 2007, it met the U.S. dollar at parity for the first time since November 25,
1976.[42]

Inflation in the value of the Canadian dollar has been fairly low since the 1990s. In 2007 the Canadian
dollar rebounded, soaring 23% in value.[38]

On September 28, 2007, the Canadian dollar closed above the U.S. dollar for the first time in 30 years,
at US$1.0052.[43] On November 7, 2007, it hit US$1.1024 during trading, a modern-day high[44] after
China announced it would diversify its US$1.43 trillion foreign exchange reserve away from the U.S.
dollar. By November 30, however, the Canadian dollar was once again at par with the U.S. dollar, and
on December 4, the dollar had retreated back to US$0.98, through a cut in interest rates made by the
Bank of Canada due to concerns about exports to the U.S.

Due to its soaring value and new record highs at the time, the Canadian dollar was named the
Canadian Newsmaker of the Year for 2007 by the Canadian edition of Time magazine.[45]

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Since the late 2000s, the Canadian dollar has been valued at levels comparable to the years before its
swift rise in 2007. For most of the 2010s, the exchange rate of Canadian to US dollars was
approximately US$0.70 to Can$1.00.[46]

Reserve currency
Most traded currencies by value
Currency distribution of global foreign exchange market turnover[47]

ISO 4217 Symbol or Proportion of daily volume Change

Rank Currency
code abbreviation April 2019 April 2022 (2019–2022)

1 U.S. dollar USD US$ 88.3% 88.5% 0.2pp

2 Euro EUR € 32.3% 30.5% 1.8pp

3 Japanese yen JPY ¥/円 16.8% 16.7% 0.1pp

4 Sterling GBP £ 12.8% 12.9% 0.1pp

5 Renminbi CNY ¥/元 4.3% 7.0% 2.7pp

6 Australian dollar AUD A$ 6.8% 6.4% 0.4pp

7 Canadian dollar CAD C$ 5.0% 6.2% 1.2pp

8 Swiss franc CHF CHF 4.9% 5.2% 0.3pp

9 Hong Kong dollar HKD HK$ 3.5% 2.6% 0.9pp

10 Singapore dollar SGD S$ 1.8% 2.4% 0.6pp

11 Swedish krona SEK kr 2.0% 2.2% 0.2pp

12 South Korean won KRW ₩/원 2.0% 1.9% 0.1pp

13 Norwegian krone NOK kr 1.8% 1.7% 0.1pp

14 New Zealand dollar NZD NZ$ 2.1% 1.7% 0.4pp

15 Indian rupee INR ₹ 1.7% 1.6% 0.1pp

16 Mexican peso MXN MX$ 1.7% 1.5% 0.2pp

17 New Taiwan dollar TWD NT$ 0.9% 1.1% 0.2pp

18 South African rand ZAR R 1.1% 1.0% 0.1pp

19 Brazilian real BRL R$ 1.1% 0.9% 0.2pp

20 Danish krone DKK kr 0.6% 0.7% 0.1pp

21 Polish złoty PLN zł 0.6% 0.7% 0.1pp

22 Thai baht THB ฿ 0.5% 0.4% 0.1pp

23 Israeli new shekel ILS ₪ 0.3% 0.4% 0.1pp

24 Indonesian rupiah IDR Rp 0.4% 0.4%

25 Czech koruna CZK Kč 0.4% 0.4%

26 UAE dirham AED ‫إ‬.‫د‬ 0.2% 0.4% 0.2pp

Total[b] 200.0% 200.0%

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ISO 4217 Symbol or Proportion of daily volume Change

Rank Currency
code abbreviation April 2019 April 2022 (2019–2022)

27 Turkish lira TRY ₺ 1.1% 0.4% 0.7pp

28 Hungarian forint HUF Ft 0.4% 0.3% 0.1pp

29 Chilean peso CLP CLP$ 0.3% 0.3%

30 Saudi riyal SAR ‫﷼‬ 0.2% 0.2%

31 Philippine peso PHP ₱ 0.3% 0.2% 0.1pp

32 Malaysian ringgit MYR RM 0.2% 0.2%

33 Colombian peso COP COL$ 0.2% 0.2%

34 Russian ruble RUB ₽ 1.1% 0.2% 0.9pp

35 Romanian leu RON L 0.1% 0.1%

36 Peruvian sol PEN S/ 0.1% 0.1%

37 Bahraini dinar BHD ‫ب‬.‫د‬. 0.0% 0.0%

38 Bulgarian lev BGN BGN 0.0% 0.0%

39 Argentine peso ARS ARG$ 0.1% 0.0% 0.1pp

… Other 1.8% 2.3% 0.5pp

Total[b] 200.0% 200.0%

A number of central banks (and commercial banks) keep Canadian dollars as a reserve currency. The
Canadian dollar is considered to be a benchmark currency.

In the economy of the Americas, the Canadian dollar plays a similar role to that of the Australian
dollar (AUD) in the Asia-Pacific region. The Canadian dollar (as a regional reserve currency for
banking) has been an important part of the British, French and Dutch Caribbean states' economies
and finance systems since the 1950s. The Canadian dollar is held by many central banks in Central
and South America as well.[48]

By observing how the Canadian dollar behaves against the U.S. dollar, foreign exchange economists
can indirectly observe internal behaviours and patterns in the U.S. economy that could not be seen by
direct observation. The Canadian dollar has fully evolved into a global reserve currency only since the
1970s, when it was floated against all other world currencies. Some economists have attributed the
rise of importance of the Canadian dollar to the long-term effects of the Nixon Shock that effectively
ended the Bretton Woods system of global finance.[49]

Exchange rates
Current CAD exchange rates
AUD (https://www.google.com/finance/quote/AUD-CAD) CHF (https://www.google.com/fin
ance/quote/CHF-CAD) CNY (https://www.google.com/finance/quote/CNY-CAD) EUR (http
From
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Finance:
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15/06/2024, 11:49 Canadian dollar - Wikipedia

AUD (https://finance.yahoo.com/quote/AUD
CAD=X) CHF (https://finance.yahoo.com/qu
ote/CHFCAD=X) CNY (https://finance.yaho
o.com/quote/CNYCAD=X) EUR (https://fina
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CAD=X) JPY (https://finance.yahoo.com/qu
ote/JPYCAD=X) USD (https://finance.yaho
o.com/quote/USDCAD=X)
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erter/convert/?Amount=1&From=CNY&To=
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CHF (https://www.oanda.com/currency-conv
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erter/en/?amount=1&from=GBP&to=CAD)
HKD (https://www.oanda.com/currency-con
verter/en/?amount=1&from=HKD&to=CAD)
JPY (https://www.oanda.com/currency-conv
erter/en/?amount=1&from=JPY&to=CAD)
USD (https://www.oanda.com/currency-con
verter/en/?amount=1&from=USD&to=CAD)

See also
Economy of Canada
List of countries by leading trade partners
List of the largest trading partners of Canada

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15/06/2024, 11:49 Canadian dollar - Wikipedia

Notes
a. There are various common abbreviations to distinguish the Canadian dollar from others: while the
ISO 4217 currency code "CAD" (a three-character code without monetary symbols) is common,
no single system is universally accepted. The World Bank, Editing Canadian English and The
Canadian Style guide all indicate " Can$ ". " C$ " is the symbol for the Nicaraguan córdoba, and as
such is discouraged by The Canadian Style guide. Editing Canadian English also indicates
"CDN$"; both style guides note the ISO code.
b. The total sum is 200% because each currency trade is counted twice: once for the currency being
bought and once for the one being sold. The percentages above represent the proportion of all
trades involving a given currency, regardless of which side of the transaction it is on. For example,
the US dollar is bought or sold in 88% of all currency trades, while the euro is bought or sold in
31% of all trades.

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External links
New Canadian $100 Bank Note (2011) (https://www.youtube.com/watch?v=7chpllnU-To) on
YouTube
Royal Canadian Mint (https://www.mint.ca/)
Canadian Paper Money - historical banknotes (https://www.bis-ans-ende-der-welt.net/Kanada-B-E
n.htm) (in English and German)
re:politics: The Canadian Dollar (https://repolitics.com/features/the-canadian-dollar/)
Bank of Canada – Exchange rate lookup (https://www.bankofcanada.ca/rates/exchange/daily-exc
hange-rates-lookup/)
Bank of Canada — Bank notes (https://www.bankofcanada.ca/banknotes/)

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