CAD - Canadian Dollar currency

Canada flag Canada

The Canadian Dollar (CAD) is the official currency of Canada and one of the most popular reserve currencies worldwide, ranked alongside the U.S. Dollar, Euro, and Japanese Yen. Introduced in 1858, the Canadian Dollar replaced the Canadian Pound and was initially pegged to the U.S. Dollar. Over time, it transitioned to a floating exchange rate system, allowing its value to fluctuate based on market demand. The currency is known for its resilience and is often considered a “commodity currency” because Canada’s economy heavily relies on natural resources like oil, timber, and minerals. The Canadian Dollar is issued and managed by the Bank of Canada, which plays a critical role in maintaining price stability and fostering a healthy financial system. The one-dollar coin, affectionately nicknamed the “loonie,” features an image of the common loon, a bird native to Canada, making the nickname synonymous with the currency itself. Canada uses the CAD exclusively across all its provinces and territories, making it the sole medium of exchange for both domestic trade and international dealings. The currency is widely used in global trade and financial markets, reflecting Canada’s economic importance as a G7 nation.

CAD - Canadian Dollar profile

Symbol $
ISO 4217 Code CAD
Central Bank Bank of Canada
Nicknames Loonie
Countries using this currency Canada

CAD - Canadian Dollar
live currency rates

Last updated:
Exchange rates here are informational, reflecting mid-market rates which fluctuate regularly. For an estimation of the rates offered by Instarem, please check our currency conversion calculator at the time of transfer.

Our latest articles

How to transfer a large amount of money with Bendigo Bank in 2025
Money know-how Remittance

How to transfer a large amount of money with Bendigo Bank in 2025

Sending large amounts of money across borders can be complex, but Bendigo Bank makes it…

From bank delays to borderless speed: How OnlineHKdeal streamlined global reimbursements with Instarem 
Customer stories

From bank delays to borderless speed: How OnlineHKdeal streamlined global reimbursements with Instarem 

The Company  OnlineHKdeal is a fast-growing e-commerce business that connects global shoppers with…

How to buy property in Hong Kong as a foreigner
Money know-how

How to buy property in Hong Kong as a foreigner

Key Takeaways Did you know that Hong Kong is considered one of the world’s…

Foreigners buying property in Australia: rules & costs explained
Money know-how

Foreigners buying property in Australia: rules & costs explained

Australia attracts foreign property buyers due to its strong economy, high quality of life and…

How to transfer a large amount of money with DBS in 2025
Money know-how Remittance

How to transfer a large amount of money with DBS in 2025

​Sending large amounts of money across borders can be complex, but DBS Singapore makes it…

Shipping smiles, saving costs: How Instarem powers Fly Box Korea
Customer stories

Shipping smiles, saving costs: How Instarem powers Fly Box Korea

The Company Fly Box Korea is a cross-border e-commerce business that brings Korea…

From high fees to high efficiency: How Charlotte Travel streamlined global payouts with Instarem
Customer stories

From high fees to high efficiency: How Charlotte Travel streamlined global payouts with Instarem

The Company Charlotte Travel Hong Kong Limited is an award-winning, family-run luxury travel…

Property tax payment in Singapore: A complete guide
Money know-how

Property tax payment in Singapore: A complete guide

Key Takeaways  The process of buying a property in Singapore does not end when…

Wise Business vs Airwallex Business: Which is better for your Business?
Business

Wise Business vs Airwallex Business: Which is better for your Business?

Choosing the right business account can significantly impact how you manage your finances. We’re…

Instarem vs WorldRemit Business: Which is better for your Business?
Business

Instarem vs WorldRemit Business: Which is better for your Business?

Choosing the right business account can significantly impact how you manage your finances. Here’…

Disclaimer: All information in this article is provided for general knowledge and educational use only. It should not be considered legal, tax, or financial advice. We recommend contacting a licensed expert in your area for assistance with specific concerns.

close icon
Select location
Australia flag
Australia
Austria flag
Austria
Canada flag
Canada
France flag
France
France flag
France
Germany flag
Germany
Hong Kong flag
Hong Kong
India flag
India
Ireland flag
Ireland
Japan flag
Japan
Malaysia flag
Malaysia
Netherlands flag
Netherlands
Singapore flag
Singapore
United Kingdom flag
United Kingdom
United States of America flag
United States of America
close icon
Select a language
English (EN)
close icon

Change location and language

You are on our Global website. Select below to change to another location.

Save changes