Canadian Dollar
Dollar canadien
Currency Code
CAD
ISO 124
Symbol
CAD
Native: $
Decimal Digits
2
Rounding: 0
Countries
CA
Using this currency
Currency Units
Major Unit
Name: dollar
Symbol: $
Minor Unit
Name: cent
Symbol: ¢
Value: 0.01
Banknotes
Frequently Used
$5$10$20$50$100
Coins
Frequently Used
$1$25¢10¢25¢
Rarely Used
1¢50¢
Plural Forms
English Plural
Canadian dollars
Native Plural
Dollars canadiens
Overview
The Canadian Dollar is the currency of Canada, managed by the Bank of Canada. It is the sixth most traded currency globally and is considered a commodity currency due to Canada's natural resource wealth.
Economy
- Canada is a member of G7, G20, NATO, OECD, Commonwealth, USMCA, CPTPP.
- Main industries include: Transportation equipment, Chemicals, Processed and unprocessed minerals, Food products, Wood and paper products, Fish products, Petroleum, Natural gas.
- Canada is part of the World Trade Organization.
- Imports are machinery, equipment, motor vehicles, crude oil, chemicals, electricity.
- Major exports include motor vehicles, machinery, oil, gold, lumber, wheat, aircraft.
- GDP: $2.14 trillion (2023 est.).
- GDP per capita: $55,263 (2023 est.).
- Unemployment rate: 5.8% (2023 est.).
- Inflation rate: 3.9% (2023 est.).
- Main trading partners: United States, China, Mexico, Germany, Japan, United Kingdom.
- Trade agreements: USMCA, CPTPP, Canada-EU CETA, Various bilateral agreements.
History
- Previous currencies used: Various colonial currencies, Halifax rating, York rating, Decimal currency.
- The Canadian dollar was introduced in 1858, initially as a decimal currency to replace the pound sterling system. It has been Canada's official currency since Confederation in 1867.
- 1858: Canadian dollar introduced
- 1867: Confederation and monetary unification
- 1935: Bank of Canada established
- 1950-1962: Floating exchange rate period
- 1970: Return to floating rate permanently
- 1988: Introduction of polymer banknotes
- 2011-2013: Brief period above USD parity
- Exchange rate peg: USD (1962-1970) at various rates.
- Exchange rate peg: Free floating (1970-present).
General Information
- ISO 4217 Code: CAD
- Symbols: CAD/$
- Currency Subunits: 100 cents
- Central Bank: Bank of Canada
- Monetary Policy: Inflation targeting with 2% target and 1-3% control range. Free-floating exchange rate with focus on domestic price stability.
- Bills: 5 CAD, 10 CAD, 20 CAD, 50 CAD, 100 CAD
- Coins: 5 cents, 10 cents, 25 cents, 1 dollar, 2 dollars
- USD Exchange Rate: Variable (approximately 1.35 CAD per USD)
- Pegged To: None (Floating)
- Capital: Ottawa
- Population: 38,654,738 (2023 est.)
- Area: 9,984,670 km²
- Languages: English (official), French (official), Indigenous languages
- Time Zones: UTC-3:30 to UTC-8 (6 time zones)
- Government Type: Federal parliamentary democracy under constitutional monarchy
- Head of Government: Prime Minister (head of government), Governor-General (representing British Crown)
- Independence: July 1, 1867 (Confederation)
- Ethnic Groups: European origin 72.9%, Asian 17.7%, Indigenous 4.9%, African 3.1%, Latin American 1.3%, Other 0.1%
- Religions: Christian 53.3%, Muslim 4.9%, Hindu 2.3%, Sikh 2.1%, Buddhist 1%, Jewish 0.9%, Other 0.6%, None 34.6%
- Literacy Rate: 99% (2003 est.)
- Transport: Extensive road and rail networks, major airports (Toronto, Vancouver, Montreal), Arctic shipping routes
- Communications: Advanced telecommunications, 92% internet penetration, comprehensive 5G networks
- Energy: Hydroelectric 59%, Nuclear 15%, Natural gas 11%, Wind 5%, Oil 1%, Coal 3%, Other renewables 6%
- Countries Using This Currency: Canada
- Data Sources: Central Bank: Bank of Canada (bankofcanada.ca), Economic Data: Statistics Canada, World Bank, IMF, Trade Data: Canada Border Services Agency, Global Affairs Canada, Demographic Data: Statistics Canada, Geographic Data: Environment and Climate Change Canada, Historical Data: Bank of Canada archives
- Last Updated: 2025