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Canadian Dollar (CAD) Exchange Rates on 06th June 2023 (06/06/2023)

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Exchange rates for Canadian Dollar (CAD)

					Updated: 2023-06-06
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	GBP	0.5984	CAD to GBP	1.671	GBP to CAD
CAD	BGN	1.3587	CAD to BGN	0.736	BGN to CAD
CAD	HRK	5.1702	CAD to HRK	0.1934	HRK to CAD
CAD	CZK	16.3525	CAD to CZK	0.0612	CZK to CAD
CAD	DKK	5.1754	CAD to DKK	0.1932	DKK to CAD
CAD	EEK	0	CAD to EEK	0	EEK to CAD
CAD	HUF	256.568	CAD to HUF	0.0039	HUF to CAD
CAD	KZT	332.9988	CAD to KZT	0.003	KZT to CAD
CAD	LVL	0.4504	CAD to LVL	2.2205	LVL to CAD
CAD	LTL	0	CAD to LTL	0	LTL to CAD
CAD	MKD	42.7443	CAD to MKD	0.0234	MKD to CAD
CAD	MDL	13.2382	CAD to MDL	0.0755	MDL to CAD
CAD	NOK	8.2091	CAD to NOK	0.1218	NOK to CAD
CAD	PLN	3.1096	CAD to PLN	0.3216	PLN to CAD
CAD	RON	3.4488	CAD to RON	0.29	RON to CAD
CAD	RUB	60.2014	CAD to RUB	0.0166	RUB to CAD
CAD	SKK	0	CAD to SKK	0	SKK to CAD
CAD	SEK	8.0701	CAD to SEK	0.1239	SEK to CAD
CAD	CHF	0.6743	CAD to CHF	1.483	CHF to CAD
CAD	TRY	15.8845	CAD to TRY	0.063	TRY to CAD
CAD	UAH	27.4378	CAD to UAH	0.0364	UAH to CAD

					Updated: 2023-06-06
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	ARS	180.5082	CAD to ARS	0.0055	ARS to CAD
CAD	BOB	5.1335	CAD to BOB	0.1948	BOB to CAD
CAD	BRL	3.6682	CAD to BRL	0.2726	BRL to CAD
CAD	CAD	1	CAD to CAD	1	CAD to CAD
CAD	KYD	0.6191	CAD to KYD	1.6151	KYD to CAD
CAD	CLP	593.8277	CAD to CLP	0.0017	CLP to CAD
CAD	COP	3198.4425	CAD to COP	0.0003	COP to CAD
CAD	CRC	399.6832	CAD to CRC	0.0025	CRC to CAD
CAD	DOP	40.7603	CAD to DOP	0.0245	DOP to CAD
CAD	SVC	6.5006	CAD to SVC	0.1538	SVC to CAD
CAD	FJD	1.6656	CAD to FJD	0.6004	FJD to CAD
CAD	HNL	18.2709	CAD to HNL	0.0547	HNL to CAD
CAD	JMD	115.0277	CAD to JMD	0.0087	JMD to CAD
CAD	MXN	12.9961	CAD to MXN	0.0769	MXN to CAD
CAD	ANG	1.3388	CAD to ANG	0.7469	ANG to CAD
CAD	PYG	5359.8804	CAD to PYG	0.0002	PYG to CAD
CAD	PEN	2.7392	CAD to PEN	0.3651	PEN to CAD
CAD	TTD	5.0354	CAD to TTD	0.1986	TTD to CAD
CAD	USD	0.7445	CAD to USD	1.3432	USD to CAD
CAD	UYU	28.8315	CAD to UYU	0.0347	UYU to CAD
CAD	VEF	1965906.0252	CAD to VEF	0	VEF to CAD

					Updated: 2023-06-06
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	AUD	1.125	CAD to AUD	0.8889	AUD to CAD
CAD	BDT	80.0343	CAD to BDT	0.0125	BDT to CAD
CAD	BND	1.0045	CAD to BND	0.9956	BND to CAD
CAD	CNY	5.2943	CAD to CNY	0.1889	CNY to CAD
CAD	INR	61.4825	CAD to INR	0.0163	INR to CAD
CAD	IDR	11044.9599	CAD to IDR	0.0001	IDR to CAD
CAD	JPY	103.8879	CAD to JPY	0.0096	JPY to CAD
CAD	MYR	3.4237	CAD to MYR	0.2921	MYR to CAD
CAD	MVR	11.4358	CAD to MVR	0.0874	MVR to CAD
CAD	NPR	98.1723	CAD to NPR	0.0102	NPR to CAD
CAD	NZD	1.2255	CAD to NZD	0.816	NZD to CAD
CAD	PKR	212.5381	CAD to PKR	0.0047	PKR to CAD
CAD	PGK	2.6365	CAD to PGK	0.3793	PGK to CAD
CAD	PHP	41.8638	CAD to PHP	0.0239	PHP to CAD
CAD	SCR	10.4196	CAD to SCR	0.096	SCR to CAD
CAD	SGD	1.0046	CAD to SGD	0.9954	SGD to CAD
CAD	KRW	967.6914	CAD to KRW	0.001	KRW to CAD
CAD	LKR	216.1869	CAD to LKR	0.0046	LKR to CAD
CAD	TWD	22.8587	CAD to TWD	0.0437	TWD to CAD
CAD	THB	25.9014	CAD to THB	0.0386	THB to CAD

					Updated: 2023-06-06
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	BHD	0.2807	CAD to BHD	3.5626	BHD to CAD
CAD	EGP	22.9315	CAD to EGP	0.0436	EGP to CAD
CAD	HKD	5.8374	CAD to HKD	0.1713	HKD to CAD
CAD	ILS	2.7846	CAD to ILS	0.3591	ILS to CAD
CAD	JOD	0.5281	CAD to JOD	1.8936	JOD to CAD
CAD	KWD	0.2291	CAD to KWD	4.365	KWD to CAD
CAD	LBP	11150.6631	CAD to LBP	0.0001	LBP to CAD
CAD	OMR	0.2867	CAD to OMR	3.4885	OMR to CAD
CAD	QAR	2.7104	CAD to QAR	0.3689	QAR to CAD
CAD	SAR	2.792	CAD to SAR	0.3582	SAR to CAD
CAD	AED	2.7345	CAD to AED	0.3657	AED to CAD
CAD	YER	186.3484	CAD to YER	0.0054	YER to CAD

					Updated: 2023-06-06
Convert from	Convert to	1 CAD	Conversion	in currency	Conversion
CAD	DZD	101.6844	CAD to DZD	0.0098	DZD to CAD
CAD	KES	103.2653	CAD to KES	0.0097	KES to CAD
CAD	MUR	33.9468	CAD to MUR	0.0295	MUR to CAD
CAD	MAD	7.5355	CAD to MAD	0.1327	MAD to CAD
CAD	NAD	14.5327	CAD to NAD	0.0688	NAD to CAD
CAD	NIO	27.1712	CAD to NIO	0.0368	NIO to CAD
CAD	NGN	343.6319	CAD to NGN	0.0029	NGN to CAD
CAD	SLL	14704.1711	CAD to SLL	0.0001	SLL to CAD
CAD	ZAR	14.3443	CAD to ZAR	0.0697	ZAR to CAD
CAD	TZS	1763.7597	CAD to TZS	0.0006	TZS to CAD
CAD	TND	2.3171	CAD to TND	0.4316	TND to CAD
CAD	UGX	2774.7597	CAD to UGX	0.0004	UGX to CAD
CAD	XOF	455.7162	CAD to XOF	0.0022	XOF to CAD
CAD	ZMK	6701.55	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
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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