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Canadian Dollar (CAD) Exchange Rates on 03rd February 2023 (03/02/2023)

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Exchange rates for Canadian Dollar (CAD)

Updated: 2023-02-03
Convert from Convert to 1 CAD Conversion in currency Conversion
CAD CAD GBP GBP 0.6079 CAD to GBP 1.6451 GBP to CAD
CAD CAD BGN BGN 1.352 CAD to BGN 0.7396 BGN to CAD
CAD CAD HRK HRK 5.304 CAD to HRK 0.1885 HRK to CAD
CAD CAD CZK CZK 16.2518 CAD to CZK 0.0615 CZK to CAD
CAD CAD DKK DKK 5.0838 CAD to DKK 0.1967 DKK to CAD
CAD CAD HUF HUF 266.1393 CAD to HUF 0.0038 HUF to CAD
CAD CAD KZT KZT 343.0681 CAD to KZT 0.0029 KZT to CAD
CAD CAD LVL LVL 0.4556 CAD to LVL 2.195 LVL to CAD
CAD CAD MKD MKD 42.1364 CAD to MKD 0.0237 MKD to CAD
CAD CAD MDL MDL 14.0234 CAD to MDL 0.0713 MDL to CAD
CAD CAD NOK NOK 7.4413 CAD to NOK 0.1344 NOK to CAD
CAD CAD PLN PLN 3.2148 CAD to PLN 0.3111 PLN to CAD
CAD CAD RON RON 3.355 CAD to RON 0.2981 RON to CAD
CAD CAD RUB RUB 52.8083 CAD to RUB 0.0189 RUB to CAD
CAD CAD SEK SEK 7.7553 CAD to SEK 0.1289 SEK to CAD
CAD CAD CHF CHF 0.6831 CAD to CHF 1.4638 CHF to CAD
CAD CAD TRY TRY 14.1738 CAD to TRY 0.0706 TRY to CAD
CAD CAD UAH UAH 27.5135 CAD to UAH 0.0363 UAH to CAD
Updated: 2023-02-03
Convert from Convert to 1 CAD Conversion in currency Conversion
CAD CAD ARS ARS 141.0394 CAD to ARS 0.0071 ARS to CAD
CAD CAD BOB BOB 5.204 CAD to BOB 0.1922 BOB to CAD
CAD CAD BRL BRL 3.8077 CAD to BRL 0.2626 BRL to CAD
CAD CAD KYD KYD 0.6208 CAD to KYD 1.6108 KYD to CAD
CAD CAD CLP CLP 592.4055 CAD to CLP 0.0017 CLP to CAD
CAD CAD COP COP 3482.7998 CAD to COP 0.0003 COP to CAD
CAD CAD CRC CRC 410.8685 CAD to CRC 0.0024 CRC to CAD
CAD CAD DOP DOP 42.2461 CAD to DOP 0.0237 DOP to CAD
CAD CAD SVC SVC 6.5179 CAD to SVC 0.1534 SVC to CAD
CAD CAD FJD FJD 1.6317 CAD to FJD 0.6129 FJD to CAD
CAD CAD HNL HNL 18.369 CAD to HNL 0.0544 HNL to CAD
CAD CAD JMD JMD 114.1695 CAD to JMD 0.0088 JMD to CAD
CAD CAD MXN MXN 13.9892 CAD to MXN 0.0715 MXN to CAD
CAD CAD ANG ANG 1.3426 CAD to ANG 0.7448 ANG to CAD
CAD CAD PYG PYG 5472.2172 CAD to PYG 0.0002 PYG to CAD
CAD CAD PEN PEN 2.8641 CAD to PEN 0.3492 PEN to CAD
CAD CAD TTD TTD 5.0553 CAD to TTD 0.1978 TTD to CAD
CAD CAD USD USD 0.7532 CAD to USD 1.3277 USD to CAD
CAD CAD UYU UYU 28.8764 CAD to UYU 0.0346 UYU to CAD
CAD CAD VEF VEF 1683037.9264 CAD to VEF 0 VEF to CAD
Updated: 2023-02-03
Convert from Convert to 1 CAD Conversion in currency Conversion
CAD CAD AUD AUD 1.0538 CAD to AUD 0.949 AUD to CAD
CAD CAD BDT BDT 79.0191 CAD to BDT 0.0127 BDT to CAD
CAD CAD BND BND 0.9779 CAD to BND 1.0226 BND to CAD
CAD CAD CNY CNY 5.0547 CAD to CNY 0.1978 CNY to CAD
CAD CAD INR INR 61.5937 CAD to INR 0.0162 INR to CAD
CAD CAD IDR IDR 11191.742 CAD to IDR 0.0001 IDR to CAD
CAD CAD JPY JPY 96.7399 CAD to JPY 0.0103 JPY to CAD
CAD CAD MYR MYR 3.1931 CAD to MYR 0.3132 MYR to CAD
CAD CAD MVR MVR 11.5687 CAD to MVR 0.0864 MVR to CAD
CAD CAD NPR NPR 97.7091 CAD to NPR 0.0102 NPR to CAD
CAD CAD NZD NZD 1.1525 CAD to NZD 0.8677 NZD to CAD
CAD CAD PKR PKR 200.2065 CAD to PKR 0.005 PKR to CAD
CAD CAD PGK PGK 2.6255 CAD to PGK 0.3809 PGK to CAD
CAD CAD PHP PHP 40.5826 CAD to PHP 0.0246 PHP to CAD
CAD CAD SCR SCR 10.0629 CAD to SCR 0.0994 SCR to CAD
CAD CAD SGD SGD 0.9821 CAD to SGD 1.0182 SGD to CAD
CAD CAD KRW KRW 917.7154 CAD to KRW 0.0011 KRW to CAD
CAD CAD LKR LKR 272.6335 CAD to LKR 0.0037 LKR to CAD
CAD CAD TWD TWD 22.3348 CAD to TWD 0.0448 TWD to CAD
CAD CAD THB THB 24.6475 CAD to THB 0.0406 THB to CAD
Updated: 2023-02-03
Convert from Convert to 1 CAD Conversion in currency Conversion
CAD CAD BHD BHD 0.2839 CAD to BHD 3.522 BHD to CAD
CAD CAD EGP EGP 22.7503 CAD to EGP 0.044 EGP to CAD
CAD CAD HKD HKD 5.906 CAD to HKD 0.1693 HKD to CAD
CAD CAD ILS ILS 2.5998 CAD to ILS 0.3846 ILS to CAD
CAD CAD JOD JOD 0.5343 CAD to JOD 1.8716 JOD to CAD
CAD CAD KWD KWD 0.2295 CAD to KWD 4.3574 KWD to CAD
CAD CAD LBP LBP 11297.5507 CAD to LBP 0.0001 LBP to CAD
CAD CAD OMR OMR 0.29 CAD to OMR 3.4488 OMR to CAD
CAD CAD QAR QAR 2.7425 CAD to QAR 0.3646 QAR to CAD
CAD CAD SAR SAR 2.8264 CAD to SAR 0.3538 SAR to CAD
CAD CAD AED AED 2.7665 CAD to AED 0.3615 AED to CAD
CAD CAD YER YER 188.5939 CAD to YER 0.0053 YER to CAD
Updated: 2023-02-03
Convert from Convert to 1 CAD Conversion in currency Conversion
CAD CAD DZD DZD 102.0465 CAD to DZD 0.0098 DZD to CAD
CAD CAD KES KES 93.8444 CAD to KES 0.0107 KES to CAD
CAD CAD MUR MUR 33.7798 CAD to MUR 0.0296 MUR to CAD
CAD CAD MAD MAD 7.5792 CAD to MAD 0.1319 MAD to CAD
CAD CAD NAD NAD 12.9394 CAD to NAD 0.0773 NAD to CAD
CAD CAD NIO NIO 27.221 CAD to NIO 0.0367 NIO to CAD
CAD CAD NGN NGN 346.8491 CAD to NGN 0.0029 NGN to CAD
CAD CAD SLL SLL 14667.929 CAD to SLL 0.0001 SLL to CAD
CAD CAD ZAR ZAR 12.8289 CAD to ZAR 0.0779 ZAR to CAD
CAD CAD TZS TZS 1760.1603 CAD to TZS 0.0006 TZS to CAD
CAD CAD TND TND 2.281 CAD to TND 0.4384 TND to CAD
CAD CAD UGX UGX 2744.9792 CAD to UGX 0.0004 UGX to CAD
CAD CAD XOF XOF 448.6186 CAD to XOF 0.0022 XOF to CAD
CAD CAD ZMK ZMK 6779.4151 CAD to ZMK 0.0001 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
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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