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Canadian Dollar (CAD) Exchange Rates on 02nd March 2024 (02/03/2024)

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Exchange rates for Canadian Dollar (CAD)

Updated: 2024-03-02
Convert from Convert to 1 CAD Conversion in currency Conversion
CAD CAD GBP GBP 0.5817 CAD to GBP 1.719 GBP to CAD
CAD CAD BGN BGN 1.3267 CAD to BGN 0.7538 BGN to CAD
CAD CAD HRK HRK 5.1762 CAD to HRK 0.1932 HRK to CAD
CAD CAD CZK CZK 17.2206 CAD to CZK 0.0581 CZK to CAD
CAD CAD DKK DKK 5.0636 CAD to DKK 0.1975 DKK to CAD
CAD CAD HUF HUF 267.7327 CAD to HUF 0.0037 HUF to CAD
CAD CAD KZT KZT 331.9357 CAD to KZT 0.003 KZT to CAD
CAD CAD LVL LVL 0.4454 CAD to LVL 2.2453 LVL to CAD
CAD CAD MKD MKD 41.8057 CAD to MKD 0.0239 MKD to CAD
CAD CAD MDL MDL 13.041 CAD to MDL 0.0767 MDL to CAD
CAD CAD NOK NOK 7.7766 CAD to NOK 0.1286 NOK to CAD
CAD CAD PLN PLN 2.9329 CAD to PLN 0.341 PLN to CAD
CAD CAD RON RON 3.3753 CAD to RON 0.2963 RON to CAD
CAD CAD RUB RUB 67.4707 CAD to RUB 0.0148 RUB to CAD
CAD CAD SEK SEK 7.6279 CAD to SEK 0.1311 SEK to CAD
CAD CAD CHF CHF 0.6511 CAD to CHF 1.5359 CHF to CAD
CAD CAD TRY TRY 23.1123 CAD to TRY 0.0433 TRY to CAD
CAD CAD UAH UAH 28.0092 CAD to UAH 0.0357 UAH to CAD
Updated: 2024-03-02
Convert from Convert to 1 CAD Conversion in currency Conversion
CAD CAD ARS ARS 618.1775 CAD to ARS 0.0016 ARS to CAD
CAD CAD BOB BOB 5.0712 CAD to BOB 0.1972 BOB to CAD
CAD CAD BRL BRL 3.6465 CAD to BRL 0.2742 BRL to CAD
CAD CAD KYD KYD 0.6116 CAD to KYD 1.6351 KYD to CAD
CAD CAD CLP CLP 705.8334 CAD to CLP 0.0014 CLP to CAD
CAD CAD COP COP 2881.2222 CAD to COP 0.0003 COP to CAD
CAD CAD CRC CRC 375.7285 CAD to CRC 0.0027 CRC to CAD
CAD CAD DOP DOP 43.0945 CAD to DOP 0.0232 DOP to CAD
CAD CAD SVC SVC 6.4211 CAD to SVC 0.1557 SVC to CAD
CAD CAD FJD FJD 1.6531 CAD to FJD 0.6049 FJD to CAD
CAD CAD HNL HNL 18.123 CAD to HNL 0.0552 HNL to CAD
CAD CAD JMD JMD 114.4754 CAD to JMD 0.0087 JMD to CAD
CAD CAD MXN MXN 12.5287 CAD to MXN 0.0798 MXN to CAD
CAD CAD ANG ANG 1.3226 CAD to ANG 0.7561 ANG to CAD
CAD CAD PYG PYG 5364.9397 CAD to PYG 0.0002 PYG to CAD
CAD CAD PEN PEN 2.7749 CAD to PEN 0.3604 PEN to CAD
CAD CAD TTD TTD 4.9803 CAD to TTD 0.2008 TTD to CAD
CAD CAD USD USD 0.7363 CAD to USD 1.3581 USD to CAD
CAD CAD UYU UYU 28.7274 CAD to UYU 0.0348 UYU to CAD
CAD CAD VEF VEF 2654393.9172 CAD to VEF 0 VEF to CAD
Updated: 2024-03-02
Convert from Convert to 1 CAD Conversion in currency Conversion
CAD CAD AUD AUD 1.1267 CAD to AUD 0.8875 AUD to CAD
CAD CAD BDT BDT 80.5454 CAD to BDT 0.0124 BDT to CAD
CAD CAD BND BND 0.9881 CAD to BND 1.0121 BND to CAD
CAD CAD CNY CNY 5.299 CAD to CNY 0.1887 CNY to CAD
CAD CAD INR INR 60.9995 CAD to INR 0.0164 INR to CAD
CAD CAD IDR IDR 11561.276 CAD to IDR 0.0001 IDR to CAD
CAD CAD JPY JPY 110.5142 CAD to JPY 0.009 JPY to CAD
CAD CAD MYR MYR 3.4941 CAD to MYR 0.2862 MYR to CAD
CAD CAD MVR MVR 11.3417 CAD to MVR 0.0882 MVR to CAD
CAD CAD NPR NPR 97.3326 CAD to NPR 0.0103 NPR to CAD
CAD CAD NZD NZD 1.2059 CAD to NZD 0.8293 NZD to CAD
CAD CAD PKR PKR 204.9337 CAD to PKR 0.0049 PKR to CAD
CAD CAD PGK PGK 2.7988 CAD to PGK 0.3573 PGK to CAD
CAD CAD PHP PHP 41.2529 CAD to PHP 0.0242 PHP to CAD
CAD CAD SCR SCR 9.9665 CAD to SCR 0.1003 SCR to CAD
CAD CAD SGD SGD 0.9902 CAD to SGD 1.0099 SGD to CAD
CAD CAD KRW KRW 980.6765 CAD to KRW 0.001 KRW to CAD
CAD CAD LKR LKR 226.3869 CAD to LKR 0.0044 LKR to CAD
CAD CAD TWD TWD 23.248 CAD to TWD 0.043 TWD to CAD
CAD CAD THB THB 26.263 CAD to THB 0.0381 THB to CAD
Updated: 2024-03-02
Convert from Convert to 1 CAD Conversion in currency Conversion
CAD CAD BHD BHD 0.2766 CAD to BHD 3.615 BHD to CAD
CAD CAD EGP EGP 22.6766 CAD to EGP 0.0441 EGP to CAD
CAD CAD HKD HKD 5.7643 CAD to HKD 0.1735 HKD to CAD
CAD CAD ILS ILS 2.6257 CAD to ILS 0.3808 ILS to CAD
CAD CAD JOD JOD 0.5221 CAD to JOD 1.9155 JOD to CAD
CAD CAD KWD KWD 0.2266 CAD to KWD 4.4124 KWD to CAD
CAD CAD LBP LBP 65718.1851 CAD to LBP 0 LBP to CAD
CAD CAD OMR OMR 0.2834 CAD to OMR 3.528 OMR to CAD
CAD CAD QAR QAR 2.6807 CAD to QAR 0.373 QAR to CAD
CAD CAD SAR SAR 2.7613 CAD to SAR 0.3621 SAR to CAD
CAD CAD AED AED 2.7044 CAD to AED 0.3698 AED to CAD
CAD CAD YER YER 184.3715 CAD to YER 0.0054 YER to CAD
Updated: 2024-03-02
Convert from Convert to 1 CAD Conversion in currency Conversion
CAD CAD DZD DZD 99.2477 CAD to DZD 0.0101 DZD to CAD
CAD CAD KES KES 106.0436 CAD to KES 0.0094 KES to CAD
CAD CAD MUR MUR 33.7153 CAD to MUR 0.0297 MUR to CAD
CAD CAD MAD MAD 7.3901 CAD to MAD 0.1353 MAD to CAD
CAD CAD NAD NAD 14.066 CAD to NAD 0.0711 NAD to CAD
CAD CAD NIO NIO 27.0112 CAD to NIO 0.037 NIO to CAD
CAD CAD NGN NGN 1161.9217 CAD to NGN 0.0009 NGN to CAD
CAD CAD SLL SLL 14541.9153 CAD to SLL 0.0001 SLL to CAD
CAD CAD ZAR ZAR 14.0353 CAD to ZAR 0.0712 ZAR to CAD
CAD CAD TZS TZS 1871.3861 CAD to TZS 0.0005 TZS to CAD
CAD CAD TND TND 2.301 CAD to TND 0.4346 TND to CAD
CAD CAD UGX UGX 2872.0644 CAD to UGX 0.0003 UGX to CAD
CAD CAD XOF XOF 444.957 CAD to XOF 0.0022 XOF to CAD
CAD CAD ZMK ZMK 6627.5538 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
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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