USD to CAD – Convert US Dollar to Canadian Dollar
Or
CAD to USD – Convert US Dollar to Canadian Dollar
🇨🇦 About the Canadian Dollar (CAD)
💰 A Brief History
The Canadian dollar (CAD), symbolized as $ or C$, has been Canada’s official currency since 1858. Before that, Canadians used a mix of British pounds, U.S. dollars, and Spanish coins. The move to a decimal-based system in 1858 helped unify the country’s monetary system.
In 1871, the Uniform Currency Act officially standardized currency across the provinces. By 1935, the Bank of Canada was established as the sole issuer of Canadian banknotes, strengthening control and trust in the national currency.
🏦 The Role of the Bank of Canada
The Bank of Canada manages monetary policy, aiming to keep inflation low and stable—typically around 2%. It adjusts interest rates and controls the money supply to keep the economy healthy and the currency stable.
💵 Canadian Banknotes & Coins
Canadian banknotes are known for their bright colors, advanced security features, and polymer material introduced in 2011. The common denominations include $5, $10, $20, $50, and $100. Coins range from 1¢ (penny)—now discontinued—to $2 (toonie).
Fun fact: The Canadian $1 coin, commonly called the “loonie,” features a loon bird and gave rise to the nickname for the CAD.
🌎 CAD in the Global Market
The Canadian dollar is one of the top 10 most traded currencies in the world. It’s considered a commodity currency because Canada’s economy relies heavily on natural resources like oil, timber, and minerals. As a result, the CAD often fluctuates with global commodity prices.
Convert US Dollar to the World Currencies