The Canadian dollar

 

 

 

 

 

 

The Canadian dollar is the official currency of Canada. First introduced in 1858, since that moment all accounting is made in the national currency.


Origins and history

Canada decided to start using the dollar instead of the sterling pound due to the dissemination of the so-called Spanish dollar or peso in North America during the XVIII century and the early XIX, and also due to the standardisation of American dollar. The region of Québec was a real advocate for the use of the dollar (the Bank of Montreal issued banknotes in dollars in 1817), while the Atlantic colonies which had stronger links with the United Kingdom, were not so in favour.  

The province of Canada stated that all accounts would be made in dollars from January 1858 and ordered the issue of the first official Canadian dollars in that same year. The colonies, which would join the Canadian Confederation soon, gradually adopted a decimal system in the following years.  

Finally, the government approved the Uniform Currency Act in April 1871 to replace the currencies of the different provinces under one single Canadian dollar for all of them. The golden standard was officially abolished on the 10th April 1933.

Current Canadian dollar coins and banknotes

Today, we have banknotes of 5, 10, 20, 50 and 100 dollars.

Billetes del dólar canadiense

Regarding coins, there are 1, 5, 10, 25 and 50 cent, and 1 and 2 dollars. 

Did you know?

Interesting facts:

  • The Central Bank of Canada was founded in 1934.
  • The currencies of 1 Canadian dollar are nicknamed loonies, from the name of the aquatic bird appearing on the reverse. Also, this name is often used referred to the monetary unit, in general.
  • The 2-dollar coins, featuring a polar bear are called twonies or toonies, based on the the word loonie and the word two.

Symbol:

C$

ISO:

CAD

Date of creation:

1858

Authority:

Bank of Canada

Frequent changes:

Other currencies of the world

Online money orders: best price guarantee

Order online and collect your currency at the branch of your choice.

Order online
Your best price

Why change currency with us rather than your bank

    Global Exchange Globo Cambio     Your high-street bank
Variety of currencies   We have 10 currencies. We are specialists.   Only major currencies. Travel money is just a secondary business for banks.
Availability of currencies   Immediate availability of currencies in our branches. Click and collect or walk in to our stores.   If they can actually get your exotic currency, prepare for a couple of visits to your bank before you can have the money on your hands.
Expenses   Only the exchange rate, without commissions, and if you book online you guarantee the best price.   The bank sets its own margin plus a commission.
Different denominations available   At Globo Cambio, you’ll get a variety of banknotes with different values, adapted to all your payment needs.   No. Prepare for refusals and complaints in foreign languages when paying with «big» banknotes.
Delivery options   Order online to benefit from a price reduction and collect at the branch of your choice.   You’ll have to go first to your bank to order the currency you need, then wait for it to come and go back again to collect it.