Canadian dollar CAD

The Canadian dollar is the official currency of Canada. One Canadian dollar is divided into 100 cents. Canadian dollar banknotes are available in denominations of 5, 10, 20, 50, and 100. Coins come in 1, 5, 10, 25, and 50 cents, as well as 1 and 2 dollar denominations.

History of the Canadian Dollar

After long discussions, Canada adopted the dollar currency system in 1850, which was based on the US dollar. Canada chose the dollar as its main currency due to extensive trade relations with its neighboring country.

Interesting Facts About the Canadian Dollar

The Canadian currency could have been the British pound sterling. Due to extensive trade routes and agreements with Great Britain, many institutions supported linking the Canadian currency to the pound sterling. However, after lengthy discussions, the decision was made to adopt the dollar.