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Canadian Dollar

Canadian dollar
Canadian dollar (English)
dollar canadien (French)
Canadian Frontier Banknotes faces.png
ISO 4217
Code CAD
Number 124
Exponent 2
Denominations
Subunit
 1/100 Cent (English) and sou (colloquial) (French)
Symbol $ or Can$ or C$ or CAD
Cent (English) and sou (colloquial) (French) ¢
Nickname Loonie, buck (English)
Huard, piastre (pronounced piasse in popular usage) (French)
Banknotes
 Freq. used $5, $10, $20, $50
 Rarely used $100
Coins
 Freq. used , 10¢, 25¢, $1, $2
 Rarely used 50¢
Demographics
Official user(s)  Canada
Unofficial user(s)  Saint Pierre and Miquelon
Issuance
Central bank Bank of Canada
 Website www.bankofcanada.ca
Printer Canadian Bank Note Company
Mint Royal Canadian Mint
 Website www.mint.ca
Valuation
Inflation 1.06% (2015)
 Source Statistics Canada, 2012.

The Canadian dollar (symbol: $; code: CAD) (French: Dollar canadien) is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes Can$ or C$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.

Owing to the image of a loon on the one-dollar coin, the currency is sometimes referred to as the loonie by foreign exchange traders and analysts, as it is by Canadians in general, or huard in French.

Canada's dollar is the fifth most held reserve currency in the world, accounting for approximately 2% of all global reserves, behind only the U.S. dollar, the euro, the yen and the pound sterling. The Canadian dollar is popular with central banks because of Canada's relative economic soundness, the Canadian government's strong sovereign position, and the stability of the country's legal and political systems.

In 1841, the Province of Canada adopted a new system based on the Halifax rating. The new Canadian pound was equal to four US dollars (92.88 grains gold), making one pound sterling equal to 1 pound, 4 shillings, and 4 pence Canadian. Thus, the new Canadian pound was worth 16 shillings and 5.3 pence sterling.


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