Canadian Dollar Detail

The Canadian dollar (symbol: $; code: CAD) is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes C$ to distinguish it from other dollar-denominated currencies.[1] It is divided into 100 cents.

Owing to the image of a loon on the one-dollar coin, the currency is sometimes referred to as the loonie by foreign exchange traders and analysts.[2]

Canada's dollar is the 5th most held reserve currency in the world, accounting for approximately 2% of all global reserves, behind only the U.S. dollar, the euro, the yen and the pound sterling.[3] The Canadian dollar is popular with central banks because of Canada's relative economic soundness, the Canadian government's strong sovereign position, and the stability of the country's legal and political systems

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