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Canada is a country that captures the hearts of millions of travellers each year with its diverse offerings. From breathtaking natural landscapes to vibrant multicultural cities, Canada has something for everyone to explore and enjoy.
If you are planning a trip to Canada, then you will need Canadian Dollars (CAD) to make payments for your daily expenses.
The Canadian Dollar is the official currency of Canada and is abbreviated as CAD. Symbolically, it is represented as C$ or CA$ to differentiate it from other dollar-denominated currencies.
The Canadian dollar is also known as the "loonie" due to the image of a common loon, a bird found in Canada, on the one-dollar coin. The two-dollar coin, known as the "toonie," was introduced in 1996 to replace the two-dollar bill.
Canada's first official currency was the Canadian pound, which was used from 1841 until 1858, when it was replaced by the Canadian dollar.
The Canadian dollar is the fifth most held reserve currency in the world, after the US dollar, euro, yen, and pound sterling.
The Bank of Canada is responsible for issuing Canadian currency and regulating the supply of money in Canada.
The Canadian dollar is available in the following denominations of banknotes and coins:
Banknotes: $5, $10, $20, $50, $100
Coins: 5 cents, 10 cents, 25 cents, 50 cents, 1 dollar, 2 dollars
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travelers going to all countries other than (a) (b) and (c) below are allowed to purchase foreign currency notes / coins only up to USD 3000 per visit. Balance amount can be carried in the form of store value cards.Exceptions to this are:
Travelling to Canada? Find answers to all your questions related to Canadian Dollar (CAD) .