CAD - the currency of Canada

Canada is a fairly young state, which was founded in July 1867. Despite this, the currency of the North American country is one of the most stable and popular in the world.

History of money

The monetary unit of Canada has a rather interesting history. Initially, these lands used the currency of the Spanish colonialists - real.

Already in 1841, the Canadian pound was introduced into circulation, which was equivalent to the US dollar. After 16 years, it was renamed the Canadian dollar.

The bill, adopted by the country's leadership in 1854, secured the binding of banknotes to the gold reserve. According to the law, the currency Freely changed to gold. After the economic crisis, in 1933, the peg to the precious metal was abolished by the government.

Until the early 1950s, the Canadian national currency was closely tied to the US dollar, so they were almost equal in value. But since 1951, a free course has been established. This continued for 11 years, after which it was decided to reattach the Canadian dollar to the US currency.

The final transition to a free course occurred in the 70s of the XX century, after which the decision no longer changed to this day.

International Canadian Dollar Name

The national money of Canada has an international designation: 1C $ or CAD. The currency is the 7th most popular in the world, although its liquidity and demand can not be compared with the US dollar and the euro.

Canada is one of the largest suppliers of energy and raw materials, so the rate of national money depends on the value of these resources on the international market. Very many countries, including the US, keep their gold and currency reserves in CAD. The currency of Canada is one of the most stable in the world. This is due to the economic development of the country and the positive situation in the sphere of finance.

At the moment, banknotes of 5, 10, 20, 50 and 100 Canadian dollars are in circulation.

A small coin is a cent. Coins are of such denominations: 1,5,10,25, 50, and also 1 and 2 dollars.

CAD - a currency that is very popular, during trading on the Forex. Daily trading operations with the Canadian dollar amount to several tens of billions.

For the stability of the national currency and its release is responsible Bank of Canada.

Cash Notes - Appearance

On the money signs on one side are picturesque landscapes of Canada and other images relating to the culture of the country. On the other - famous statesmen of different eras. During its existence, the design of banknotes underwent some changes. The colors of money changed, as well as their size. Only special designations and identification elements were unchanged.

It is not at all surprising that Queen Elizabeth II is depicted on a 20-dollar bill. After all, she is the head of state. The Queen ascended the throne on February 6, 1952 and became the royal ruler of the United Kingdom of Great Britain, Canada and other territories. The bulk of the monarch's powers, during her absence, is vested in Governor-General David Johnston.

Canadian Dollar rate

In 2007, the Canadian currency at its value slightly exceeded the US dollar, this figure was 1.0052. To date, the rate is:

• 1CAD is equal to 0.70 EUR.
• 1 CAD is equal to 0.75 USD.
• 1 CAD is equal to 43,45 RUB.

The Canadian dollar is a fairly stable currency. It is considered one of the most protected in the world. The least influence on it is provided by the money of China and Japan.

CAD is the currency in which it is safe to store your savings.