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Canadian Dollar (CAD) Exchange Rates on 02nd May 2024 (02/05/2024)

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Exchange rates for Canadian Dollar (CAD)

					Updated: 2024-05-02
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	GBP	0.5813	CAD to GBP	1.7203	GBP to CAD
CAD	BGN	1.3352	CAD to BGN	0.749	BGN to CAD
CAD	HRK	5.1577	CAD to HRK	0.1939	HRK to CAD
CAD	CZK	17.0521	CAD to CZK	0.0586	CZK to CAD
CAD	DKK	5.0707	CAD to DKK	0.1972	DKK to CAD
CAD	EEK	0	CAD to EEK	0	EEK to CAD
CAD	HUF	264.9019	CAD to HUF	0.0038	HUF to CAD
CAD	KZT	321.0174	CAD to KZT	0.0031	KZT to CAD
CAD	LVL	0.4406	CAD to LVL	2.2694	LVL to CAD
CAD	LTL	0	CAD to LTL	0	LTL to CAD
CAD	MKD	41.903	CAD to MKD	0.0239	MKD to CAD
CAD	MDL	12.799	CAD to MDL	0.0781	MDL to CAD
CAD	NOK	8.0344	CAD to NOK	0.1245	NOK to CAD
CAD	PLN	2.9389	CAD to PLN	0.3403	PLN to CAD
CAD	RON	3.3854	CAD to RON	0.2954	RON to CAD
CAD	RUB	68.1462	CAD to RUB	0.0147	RUB to CAD
CAD	SKK	0	CAD to SKK	0	SKK to CAD
CAD	SEK	7.956	CAD to SEK	0.1257	SEK to CAD
CAD	CHF	0.6677	CAD to CHF	1.4976	CHF to CAD
CAD	TRY	23.5406	CAD to TRY	0.0425	TRY to CAD
CAD	UAH	28.7319	CAD to UAH	0.0348	UAH to CAD

					Updated: 2024-05-02
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	ARS	635.9691	CAD to ARS	0.0016	ARS to CAD
CAD	BOB	5.0136	CAD to BOB	0.1995	BOB to CAD
CAD	BRL	3.785	CAD to BRL	0.2642	BRL to CAD
CAD	CAD	1	CAD to CAD	1	CAD to CAD
CAD	KYD	0.6047	CAD to KYD	1.6538	KYD to CAD
CAD	CLP	699.6108	CAD to CLP	0.0014	CLP to CAD
CAD	COP	2851.2417	CAD to COP	0.0004	COP to CAD
CAD	CRC	370.2412	CAD to CRC	0.0027	CRC to CAD
CAD	DOP	42.186	CAD to DOP	0.0237	DOP to CAD
CAD	SVC	6.3485	CAD to SVC	0.1575	SVC to CAD
CAD	FJD	1.6769	CAD to FJD	0.5963	FJD to CAD
CAD	HNL	17.9277	CAD to HNL	0.0558	HNL to CAD
CAD	JMD	113.2059	CAD to JMD	0.0088	JMD to CAD
CAD	MXN	12.3462	CAD to MXN	0.081	MXN to CAD
CAD	ANG	1.3077	CAD to ANG	0.7647	ANG to CAD
CAD	PYG	5437.2243	CAD to PYG	0.0002	PYG to CAD
CAD	PEN	2.7349	CAD to PEN	0.3656	PEN to CAD
CAD	TTD	4.9292	CAD to TTD	0.2029	TTD to CAD
CAD	USD	0.7285	CAD to USD	1.3727	USD to CAD
CAD	UYU	27.8155	CAD to UYU	0.036	UYU to CAD
CAD	VEF	2638917.4522	CAD to VEF	0	VEF to CAD

					Updated: 2024-05-02
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	AUD	1.1156	CAD to AUD	0.8964	AUD to CAD
CAD	BDT	79.6302	CAD to BDT	0.0126	BDT to CAD
CAD	BND	0.9903	CAD to BND	1.0098	BND to CAD
CAD	CNY	5.2748	CAD to CNY	0.1896	CNY to CAD
CAD	INR	60.7811	CAD to INR	0.0165	INR to CAD
CAD	IDR	11795.0797	CAD to IDR	0.0001	IDR to CAD
CAD	JPY	113.6117	CAD to JPY	0.0088	JPY to CAD
CAD	MYR	3.4719	CAD to MYR	0.288	MYR to CAD
CAD	MVR	10.9201	CAD to MVR	0.0916	MVR to CAD
CAD	NPR	97.428	CAD to NPR	0.0103	NPR to CAD
CAD	NZD	1.2294	CAD to NZD	0.8134	NZD to CAD
CAD	PKR	201.9953	CAD to PKR	0.005	PKR to CAD
CAD	PGK	2.8006	CAD to PGK	0.3571	PGK to CAD
CAD	PHP	41.9625	CAD to PHP	0.0238	PHP to CAD
CAD	SCR	9.9384	CAD to SCR	0.1006	SCR to CAD
CAD	SGD	0.9907	CAD to SGD	1.0093	SGD to CAD
CAD	KRW	1002.6861	CAD to KRW	0.001	KRW to CAD
CAD	LKR	216.3397	CAD to LKR	0.0046	LKR to CAD
CAD	TWD	23.7138	CAD to TWD	0.0422	TWD to CAD
CAD	THB	26.8955	CAD to THB	0.0372	THB to CAD

					Updated: 2024-05-02
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	BHD	0.2735	CAD to BHD	3.6559	BHD to CAD
CAD	EGP	34.7116	CAD to EGP	0.0288	EGP to CAD
CAD	HKD	5.6953	CAD to HKD	0.1756	HKD to CAD
CAD	ILS	2.736	CAD to ILS	0.3655	ILS to CAD
CAD	JOD	0.5163	CAD to JOD	1.937	JOD to CAD
CAD	KWD	0.2245	CAD to KWD	4.4543	KWD to CAD
CAD	LBP	64986.1254	CAD to LBP	0	LBP to CAD
CAD	OMR	0.2793	CAD to OMR	3.5798	OMR to CAD
CAD	QAR	2.6524	CAD to QAR	0.377	QAR to CAD
CAD	SAR	2.7337	CAD to SAR	0.3658	SAR to CAD
CAD	AED	2.6756	CAD to AED	0.3737	AED to CAD
CAD	YER	182.3733	CAD to YER	0.0055	YER to CAD

					Updated: 2024-05-02
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	DZD	97.7087	CAD to DZD	0.0102	DZD to CAD
CAD	KES	98.3437	CAD to KES	0.0102	KES to CAD
CAD	MUR	33.7792	CAD to MUR	0.0296	MUR to CAD
CAD	MAD	7.3444	CAD to MAD	0.1362	MAD to CAD
CAD	NAD	13.5478	CAD to NAD	0.0738	NAD to CAD
CAD	NIO	26.7071	CAD to NIO	0.0374	NIO to CAD
CAD	NGN	1017.2144	CAD to NGN	0.001	NGN to CAD
CAD	SLL	15275.75	CAD to SLL	0.0001	SLL to CAD
CAD	ZAR	13.5316	CAD to ZAR	0.0739	ZAR to CAD
CAD	TZS	1875.6554	CAD to TZS	0.0005	TZS to CAD
CAD	TND	2.2925	CAD to TND	0.4362	TND to CAD
CAD	UGX	2763.8637	CAD to UGX	0.0004	UGX to CAD
CAD	XOF	446.1014	CAD to XOF	0.0022	XOF to CAD
CAD	ZMK	6557.1193	CAD to ZMK	0.0002	ZMK to CAD

Canadian dollar (CAD)

Sign $ or C$
1 Canadian Dollar is subdivided into 100 cents.

CAD is the currency code for the Canadian dollar (CAD) which is represented in accounting with the $ symbol or C$ when necessary contextually to delineate it from other currencies denominated in dollars. The Bank of Canada is responsible for governance and implementation of Canadian monetary policy, issuance of Canadian notes, coin, and currency as well as having a general mandate of promoting the economic and financial well being of Canada. This is in comparison to the Central Bank mandates of other nation states which are more specific toward price stability or economic growth and employment. The Bank of Canada is wholly owned and operated by the Government of Canada.

Coins used:
- frequently used: 1¢, 5¢, 10¢, 25¢
- rarely used: 50¢, $1

Banknotes used:
- frequently used: $5, $10, $20, $50
- rarely used: $100

Central Bank
Bank of Canada
http://www.bankofcanada.ca
The CAD is the sixth most traded currency within currency markets and it is oftentimes linked to its dominant southern neighbor in currency pairs. The CAD is also the worlds sixth largest reserve currency when being measured by value. Countries that have central banks that hold and use the CAD as a reserve currency include the Dutch, French, and British foreign territories in the Caribbean as well as many of the central banks in South and central America. This regional use of the Canadian dollar over the United States dollar is for both political and economic reasons. In some instances, due to internal politics the leadership of many countries do not wish to be seen as having ties to the United States and in others it is for economic reasons where economically their central banks feel it is prudent to spread their holdings of reserve currencies into CAD to mitigate debt exposure risks inherent in the United States dollar (USD).

The Bank of Canada has also openly stated that they have not and do not intend in any way to interfere with the CAD as it trades in foreign currency markets. While they have an interest in promoting the financial well being of Canada, as is their mandate, in defining this mandate they have not shown the interest in proactively affecting the CAD prices relative to other currencies. This is in juxtaposition to many other central banks that have an established policy, whether published or anecdotal, of pushing their currencies up or down on the world markets in order to suit an economic or political purpose.

It is worthy of note that they CAD was unique amongst many major world currencies from 1950-1962 in that it was not tied to the Bretton Woods system and as a result was a floating currency, not a fiat currency as is the USD, because it was always been pegged, anchored, or tied in one way or another to the USD until the 1970's, but a floating currency that was allowed to fluctuate on the open markets. Since the USD abandoned the gold standard and Bretton Woods it has floated against worldwide currencies freely, independent of the floating fiat currency, the USD. The value of the CAD on open markets has fluctuated more than would be expected for a major currency. It traded as low as $0.6179 against the USD in 2002, rose steadily with a large jump of 23% in 2007. This, as a result of the rise in commodity prices, namely oil of which Canada is a net exporter, the impact of the worldwide credit crises, and the devaluation of the USD through decreasing United States interest rates.

Therefore the value of the CAD is substantially affected by events and interest rates not only in Canada itself, but also by its dominant neighbor the United States. This is not only due to the USD dominance on the world scene but also because 84.2% of Canada's export trade is with the United states and 56.7% of items imported to Canada come from the Untied States. With this heavy concentration of trade with the United States, as a dominant trading partner, economic events within that the United States have a direct impact on the economy and currency of Canada. This combined with the worldwide price of oil are the two external factors with the largest impact on the CAD. Internal politics, interest rates, fiscal policy, monetary policy, and they nations economy being the largest internal factors.

The CAD as legal tender is broken into 1/100ths with the smallest denomination being one cent. An interesting fact of note with regard to its use as legal tender is that there is an actual legally defined limit as to how much a person is legally required to accept in payment with coins, as opposed to payment with bills. For example, when paying a debt greater than $40 a person is not required to accept payment if the payor is using any combination of $2-$10 coins. Other limits for maximum required acceptance as legal tender are as follows: maximum of $25 with $1 coins, maximum $10 with $0.10 - less than $1 coins, $5 with $0.05 coins, and $0.25 with $0.01 coins. While most countries leave issues of acceptance of coin to pay bills or debts up to each creditor, the Canadian legal code specifically outlines these rules making it a unique feature of the CAD as legal tender.

The history of the CAD has deep routes in its country's ties to England and the British Pound. At one time the CAD was actually called the Canadian Pound. After nearly a century of consistent changes to how the Canadian Pound was benchmarked in value the Uniform Currency Act was passed in 1871 which finalized the issue with the decision that still holds to this day, to switch from the Canadian Pound to the CAD thus binding the CAD forever to the USD. The exact ratio and ways in which it has been bound has changed over the decades, but one way or another the CAD has since 1871 been much more closely ties to the USD than any other worldwide currency. This combined with the Canadian dependence on trade with the United States makes the CAD inextricably tied to the USD with the primary mitigating factor being Canada's ability to export oil, which in the late years of the first decade of the 21st century has been increasingly important in supporting the value of the CAD in spite of the significant drop in the USD.

Other References
Wikipedia article on Canadian Dollar

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