CADCanadian DollarCanadian Dollar (CAD)
The Canadian dollar is the official currency of Canada. Bank of Canada notes and coins produced by the Royal Canadian Mint circulate under the ISO code CAD. The dollar sign is common domestically, but CAD is the clearer label in international contexts where several currencies share that symbol. One Canadian dollar is divided into 100 cents.
- ISO code
- CAD
- Symbol
- CAD
- Region
- Americas
- Currency type
- Fiat currency
- Exchange system
- The Bank of Canada issues banknotes, while Canadian coins are produced for the federal government by the Royal Canadian Mint.
- Last reviewed
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Quick facts
CAD at a glance
Currency profile
How CAD works
The Canadian dollar is the official currency of Canada. Bank of Canada notes and coins produced by the Royal Canadian Mint circulate under the ISO code CAD. The dollar sign is common domestically, but CAD is the clearer label in international contexts where several currencies share that symbol. One Canadian dollar is divided into 100 cents.
CAD conversion pages support cross-border shopping, travel, payroll and invoices, especially where Canadian and US prices are compared. A dated reference rate supplies a neutral starting point for calculation, while the amount charged by a bank, card or transfer provider may reflect another processing date and its own pricing. Showing the currency code, name and Canadian flag together helps distinguish CAD from USD, AUD, NZD and other dollar currencies.
- CAD is divided into 100 cents and uses an ISO code that distinguishes it from other dollar currencies.
- Canada has used both fixed and floating exchange-rate periods; the dollar has floated since 1970.
Context
Why this currency matters
CAD is a major North American currency with close connections to US trade and global commodity markets. It is commonly compared with USD and also features in international reserve and investment activity. Canadian-dollar conversions are especially useful for cross-border households and businesses that repeatedly compare prices on both sides of the border. Recording whether an amount began in CAD or USD avoids a common direction error when invoices and reimbursements are reviewed. The same discipline helps when comparing tax-inclusive prices across provinces and states.
Monetary framework
Exchange arrangement
The Bank of Canada issues banknotes, while Canadian coins are produced for the federal government by the Royal Canadian Mint.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for CAD
Bank of Canada notes issued
The newly established Bank of Canada began issuing a national banknote series.
Bank of Canada - history of the Canadian dollarCanadian dollar floated
Canada allowed the dollar to float during the post-war period.
Bank of Canada - history of the Canadian dollarFixed rate restored
A fixed U.S.-dollar rate was restored for part of the 1960s.
Bank of Canada - history of the Canadian dollarFloating rate resumed
Canada returned to a floating exchange rate in 1970.
Bank of Canada - history of the Canadian dollar
Usage and economy
How CAD is used
- Domestic prices, wages and payments in Canada.
- Cross-border commerce and comparisons with USD.
Country currency guides
Banknotes and coins
CAD currency units
The Bank of Canada documents the development and issue of Canadian banknotes.
The Royal Canadian Mint documents Canada's current circulation coins.
One Canadian Dollar unit is recorded with 2 decimal places and uses Cent as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
Currency topics
FAQ
CAD questions
Is CAD the same as USD?
No. CAD is Canada's dollar and USD is the United States dollar; they are separate currencies with a changing exchange rate.
Who issues Canadian banknotes?
The Bank of Canada issues Canadian banknotes.
Does the Canadian dollar float?
Yes. The Canadian dollar returned to a floating exchange rate in 1970.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.