Canadian Currency

Canadian Currency is the main requirement for any trade. Students, too require currency to continue their studies. In Canada the accepted mode of payment is the Canadian dollar whose value is approximately 0.983671 US dollars each. Any other unit of currency must be converted to Canadian dollars before any form of transaction can take place.

CAD or the Canadian dollars is the unit of currency in Canada. It is the 7th most traded currency in the world according to reports. The Canadian dollars is sometimes abbreviated as C$ to distinguish it from the other dollar denominated currencies. CAD is also divided into 100 cents.

The Canadian dollar is available in denominations of $ 5, $ 10, $ 20, $ 50, $ 100, $ 500, $ 1000 notes and 1 cent (penny), 5 cent (nickel), 10 cent (dime), 25 cent (quarter), 50 cent ( 50 piece), $ 1 (loonie) and $ 2 (toonie) coins.

The coins are produced by the Royal Canadian Mint in Winnipeg, Manitoba whereas the notes are printed by the Canadian Bank Note Company and the BA International Inc. under contract to the Bank of Canada.