The Canadian dollar (CAD) is one of the key currencies used worldwide. It is represented by $ or C$. As of 2007, the Canadian dollar was the seventh highest traded currency in the world. A familiar term for this currency is “Loonie” which is a nickname referring to the $1 coin.
Canada"s first paper money was issued between the years of 1813 to 1815 in denominations ranging from $1 to $400. As the central bank of the country, “The Bank Of Canada”, is the sole creator and issuer of Canadian dollar banknotes. The 1850s was a decade of deliberation over whether the currency should adopt a sterling monetary system or a decimal monetary system based on the US dollar. Given the trade with neighbouring USA, the eventually settled on the Canadian dollar and historically on world markets, the Canadian dollar has tended to move in tandem with the US dollar to reflect their trading relationship.
From 1950 to 1962, unlike other currencies in the Bretton Woods system, whose values were fixed, the Canadian dollar was allowed to float which acted as an inflation fighting measure in 1970.
Canadian Dollar bills are issued in 5,10,20, 50 and 100 dollar bills. All banknotes are issued by the Bank of Canada but are outsourced for production to the Canadian Bank Note Company and BA International Inc. All wording on the notes appears in both of Canada's official languages, English and French and are printed on synthetic polymer instead of cotton fibre.
The Currency Club website prices track live currency exchange rates on the Canadian dollar, therefore if you are planning to travel to Canada, The Currency Club offers the most competitive currency exchange rates for Canadian dollars
Register, become a member and via your own designated account order travel money efficiently and at your own convenience. Place your order via The Currency Club to get the best Canadian dollar exchange rate