This is the latest exchange rate for CAD (Loonie) today which is the official currency of Canada. The currency is the Canadian Dollar with symbol code: CAD.
The CAD exchange rate is affected by economic conditions within Canada. Things such as interest rate changes, GDP and unemployment can affect the Loonie currency. Economic policies in Canada are set by the Bank of Canada at regular meetings throughout the year.
|1 CAD =||0.71 USD|
|1 CAD =||0.66 EUR|
|1 CAD =||0.58 GBP|
This table displays other common conversions of the (CAD) Loonie in US Dollars.
|100 Canadian Dollar||71.29|
|500 Canadian Dollar||356.45|
|1000 Canadian Dollar||712.89|
About The Canadian Dollar
When looking at the country Canada, we can see some similarities between it and the USA, especially when we look at currency. If you’re planning to make your way up North anytime soon, we have all you need to know about the Canadian dollar exchange rate in order to make your trip successful.
Governed by the Bank of Canada, the Canadian dollar, when translated into United States currency, is equivalent to 79 cents. It all began with the Canadian pound, which started its circulation in 1841, which at the time would have equaled about 4 United States dollars. As the 1850s approached, the country was ready to change the system of their currency, wanting it to be more similar to that of America and their decimal system. Canada officially changed their currency from the pound the dollar in 1858, and have followed that system ever since.
When it comes to the currency that is currently in circulation today, it is also quite similar to that if the United States. The coins that are frequently used are the $1, $2, 5 cent, 10 cent, and 25 cent, and they rarely use their 50 cent coin. Their bank notes also follow a similar fashion, frequently using the $5, $10, $20, and $50, rarely using their $100 note.
The currency can be referred to as “Loonie” sometimes due to the one Dollar coin that was in issue around 1987, which used the common Loon bird on the reverse side.
If you are ready to plan a trip to beautiful country of Canada, it is always a great idea to brush up on the differences and history of the currency that is the Canadian dollar. It will help you find your way as you visit, and can be helpful knowledge during your stay!
Historical Loonie Exchange Rate Chart