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Canadian Dollar (CAD) Exchange Rates on 27th July 2024 (27/07/2024)

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Exchange rates for Canadian Dollar (CAD)

					Updated: 2024-07-27
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	GBP	0.5626	CAD to GBP	1.7775	GBP to CAD
CAD	BGN	1.3039	CAD to BGN	0.7669	BGN to CAD
CAD	HRK	4.9994	CAD to HRK	0.2	HRK to CAD
CAD	CZK	16.9035	CAD to CZK	0.0592	CZK to CAD
CAD	DKK	4.9744	CAD to DKK	0.201	DKK to CAD
CAD	EEK	0	CAD to EEK	0	EEK to CAD
CAD	HUF	261.5085	CAD to HUF	0.0038	HUF to CAD
CAD	KZT	343.5648	CAD to KZT	0.0029	KZT to CAD
CAD	LVL	0.4378	CAD to LVL	2.2843	LVL to CAD
CAD	LTL	0	CAD to LTL	0	LTL to CAD
CAD	MKD	41.0836	CAD to MKD	0.0243	MKD to CAD
CAD	MDL	12.8648	CAD to MDL	0.0777	MDL to CAD
CAD	NOK	7.977	CAD to NOK	0.1254	NOK to CAD
CAD	PLN	2.8559	CAD to PLN	0.3502	PLN to CAD
CAD	RON	3.3117	CAD to RON	0.302	RON to CAD
CAD	RUB	61.5034	CAD to RUB	0.0163	RUB to CAD
CAD	SKK	0	CAD to SKK	0	SKK to CAD
CAD	SEK	7.8336	CAD to SEK	0.1277	SEK to CAD
CAD	CHF	0.6375	CAD to CHF	1.5685	CHF to CAD
CAD	TRY	23.948	CAD to TRY	0.0418	TRY to CAD
CAD	UAH	29.8219	CAD to UAH	0.0335	UAH to CAD

					Updated: 2024-07-27
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	ARS	672.6999	CAD to ARS	0.0015	ARS to CAD
CAD	BOB	4.9995	CAD to BOB	0.2	BOB to CAD
CAD	BRL	4.0852	CAD to BRL	0.2448	BRL to CAD
CAD	CAD	1	CAD to CAD	1	CAD to CAD
CAD	KYD	0.603	CAD to KYD	1.6585	KYD to CAD
CAD	CLP	685.4641	CAD to CLP	0.0015	CLP to CAD
CAD	COP	2917.6731	CAD to COP	0.0003	COP to CAD
CAD	CRC	382.5787	CAD to CRC	0.0026	CRC to CAD
CAD	DOP	42.8584	CAD to DOP	0.0233	DOP to CAD
CAD	SVC	6.3311	CAD to SVC	0.158	SVC to CAD
CAD	FJD	1.6356	CAD to FJD	0.6114	FJD to CAD
CAD	HNL	17.9165	CAD to HNL	0.0558	HNL to CAD
CAD	JMD	113.2594	CAD to JMD	0.0088	JMD to CAD
CAD	MXN	13.3293	CAD to MXN	0.075	MXN to CAD
CAD	ANG	1.304	CAD to ANG	0.7669	ANG to CAD
CAD	PYG	5487.5995	CAD to PYG	0.0002	PYG to CAD
CAD	PEN	2.7078	CAD to PEN	0.3693	PEN to CAD
CAD	TTD	4.9182	CAD to TTD	0.2033	TTD to CAD
CAD	USD	0.7237	CAD to USD	1.3818	USD to CAD
CAD	UYU	29.078	CAD to UYU	0.0344	UYU to CAD
CAD	VEF	2621603.4359	CAD to VEF	0	VEF to CAD

					Updated: 2024-07-27
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	AUD	1.1048	CAD to AUD	0.9051	AUD to CAD
CAD	BDT	85.021	CAD to BDT	0.0118	BDT to CAD
CAD	BND	0.9711	CAD to BND	1.0298	BND to CAD
CAD	CNY	5.2452	CAD to CNY	0.1906	CNY to CAD
CAD	INR	60.5949	CAD to INR	0.0165	INR to CAD
CAD	IDR	11794.0411	CAD to IDR	0.0001	IDR to CAD
CAD	JPY	111.3111	CAD to JPY	0.009	JPY to CAD
CAD	MYR	3.3743	CAD to MYR	0.2964	MYR to CAD
CAD	MVR	11.1088	CAD to MVR	0.09	MVR to CAD
CAD	NPR	96.9017	CAD to NPR	0.0103	NPR to CAD
CAD	NZD	1.2295	CAD to NZD	0.8133	NZD to CAD
CAD	PKR	201.438	CAD to PKR	0.005	PKR to CAD
CAD	PGK	2.7985	CAD to PGK	0.3573	PGK to CAD
CAD	PHP	42.2894	CAD to PHP	0.0236	PHP to CAD
CAD	SCR	9.6079	CAD to SCR	0.1041	SCR to CAD
CAD	SGD	0.972	CAD to SGD	1.0289	SGD to CAD
CAD	KRW	1003.1664	CAD to KRW	0.001	KRW to CAD
CAD	LKR	219.5306	CAD to LKR	0.0046	LKR to CAD
CAD	TWD	23.7503	CAD to TWD	0.0421	TWD to CAD
CAD	THB	26.1541	CAD to THB	0.0382	THB to CAD

					Updated: 2024-07-27
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	BHD	0.2728	CAD to BHD	3.6657	BHD to CAD
CAD	EGP	34.9809	CAD to EGP	0.0286	EGP to CAD
CAD	HKD	5.6501	CAD to HKD	0.177	HKD to CAD
CAD	ILS	2.6545	CAD to ILS	0.3767	ILS to CAD
CAD	JOD	0.5129	CAD to JOD	1.9497	JOD to CAD
CAD	KWD	0.2213	CAD to KWD	4.5179	KWD to CAD
CAD	LBP	64794.5084	CAD to LBP	0	LBP to CAD
CAD	OMR	0.2786	CAD to OMR	3.5894	OMR to CAD
CAD	QAR	2.6393	CAD to QAR	0.3789	QAR to CAD
CAD	SAR	2.7145	CAD to SAR	0.3684	SAR to CAD
CAD	AED	2.6582	CAD to AED	0.3762	AED to CAD
CAD	YER	181.1822	CAD to YER	0.0055	YER to CAD

					Updated: 2024-07-27
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	DZD	97.2863	CAD to DZD	0.0103	DZD to CAD
CAD	KES	94.062	CAD to KES	0.0106	KES to CAD
CAD	MUR	33.8988	CAD to MUR	0.0295	MUR to CAD
CAD	MAD	7.1165	CAD to MAD	0.1405	MAD to CAD
CAD	NAD	13.3752	CAD to NAD	0.0748	NAD to CAD
CAD	NIO	26.6313	CAD to NIO	0.0375	NIO to CAD
CAD	NGN	1126.8654	CAD to NGN	0.0009	NGN to CAD
CAD	SLL	15176.0689	CAD to SLL	0.0001	SLL to CAD
CAD	ZAR	13.2629	CAD to ZAR	0.0754	ZAR to CAD
CAD	TZS	1947.1485	CAD to TZS	0.0005	TZS to CAD
CAD	TND	2.2456	CAD to TND	0.4453	TND to CAD
CAD	UGX	2703.7893	CAD to UGX	0.0004	UGX to CAD
CAD	XOF	437.3785	CAD to XOF	0.0023	XOF to CAD
CAD	ZMK	6514.3489	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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