Currency Rate Canadian Dollar to USD
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Buying rate
CA$ 0.661668
Selling rate
CA$0.711473
The Canadian Dollar, commonly abbreviated as CAD, is the official currency of Canada. Known locally as the "dollar," the CAD is symbolized as "$" or "C$." Introduced in 1858, the Canadian dollar replaced the Canadian pound, marking Canada's adoption of a decimal currency system.
Currency Details
Symbol: $ or C$
ISO Code: CAD
Subunits: 1 Dollar = 100 cents
Banknotes and Coins
The CAD is available in both coins and banknotes:
Coins:
1 cent (penny) - no longer in circulation since 2013
5 cents (nickel)
10 cents (dime)
25 cents (quarter)
50 cents (rarely used)
1 dollar (loonie)
2 dollars (toonie)
Banknotes:
5 dollars
10 dollars
20 dollars
50 dollars
100 dollars
History and Background
The Canadian Dollar has a long history, beginning with the establishment of the Bank of Canada in 1935, which centralized the issuance of currency. Prior to this, various banks issued their own currency. The modern Canadian dollar was established in 1858.
Economic Significance
The CAD is integral to Canada's economy, facilitating trade, investment, and economic development. Canada has a diverse economy, with key sectors including natural resources (oil, gas, minerals, forestry), manufacturing, services, and technology. The Canadian dollar is influenced by factors such as commodity prices, interest rates, and global economic conditions.
Usage and Exchange
The CAD is universally accepted across Canada for all transactions, from everyday purchases to significant business deals. For visitors and expatriates, exchanging foreign currency for Canadian dollars is straightforward, with numerous exchange bureaus, banks, and ATMs available throughout the country. Major credit cards are also widely accepted, ensuring convenience for international travelers.
Currency Details
Symbol: $ or C$
ISO Code: CAD
Subunits: 1 Dollar = 100 cents
Banknotes and Coins
The CAD is available in both coins and banknotes:
Coins:
1 cent (penny) - no longer in circulation since 2013
5 cents (nickel)
10 cents (dime)
25 cents (quarter)
50 cents (rarely used)
1 dollar (loonie)
2 dollars (toonie)
Banknotes:
5 dollars
10 dollars
20 dollars
50 dollars
100 dollars
History and Background
The Canadian Dollar has a long history, beginning with the establishment of the Bank of Canada in 1935, which centralized the issuance of currency. Prior to this, various banks issued their own currency. The modern Canadian dollar was established in 1858.
Economic Significance
The CAD is integral to Canada's economy, facilitating trade, investment, and economic development. Canada has a diverse economy, with key sectors including natural resources (oil, gas, minerals, forestry), manufacturing, services, and technology. The Canadian dollar is influenced by factors such as commodity prices, interest rates, and global economic conditions.
Usage and Exchange
The CAD is universally accepted across Canada for all transactions, from everyday purchases to significant business deals. For visitors and expatriates, exchanging foreign currency for Canadian dollars is straightforward, with numerous exchange bureaus, banks, and ATMs available throughout the country. Major credit cards are also widely accepted, ensuring convenience for international travelers.
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