Canadian dollar
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The Canadian dollar (symbol: $; code: CAD; French: dollar canadien) is the currency of Canada. It is abbreviated with the dollar sign $. There is no standard disambiguating form, but the abbreviations Can$, CA$ and C$ are frequently used for distinction from other dollar-denominated currencies (though C$ remains ambiguous with the Nicaraguan córdoba).[1][2][3][lower-alpha 1] It is divided into 100 cents (¢).
Dollar canadien (French) Can$, C$, CA$, CDN$, CAD | |
---|---|
ISO 4217 | |
Code | CAD (numeric: 124) |
Subunit | 0.01 |
Unit | |
Unit | dollar |
Symbol | $ |
Nickname | Loonie, buck (in English) Huard, piastre (pronounced piasse in popular usage) (in French) |
Denominations | |
Subunit | |
1⁄100 | Cent (in English) and sou (colloquial in French) |
Symbol | |
Cent | ¢ |
Banknotes | $5, $10, $20, $50, $100 |
Coins | |
Freq. used | 5¢, 10¢, 25¢, $1, $2 |
Rarely used | 1¢ (discontinued, still legal tender), 50¢ (still minted) |
Demographics | |
Official user(s) | Canada |
Unofficial user(s) | St. Pierre and Miquelon |
Issuance | |
Central bank | Bank of Canada |
Website | www |
Printer | Canadian Bank Note Company |
Website | www |
Mint | Royal Canadian Mint |
Website | www |
Valuation | |
Inflation | 2.9% (March 2024) |
Source | |
Method | Consumer price index |
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 Canadian dollar is the sixth-most held reserve currency in the world, behind the U.S. dollar, euro, yen, sterling, and renminbi.[5] 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.[6][7][8][9][10]