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CAD (Canadian Dollar)

Discussion in 'Traders Glossary' started by GlossaryEditor, Aug 15, 2015.

  1. GlossaryEditor

    GlossaryEditor Glossary Editor

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    CAD is the ISC code for the Canadian Dollar. It can be represented by $ or by C$ to distinguish it from other dollar denominated currencies. Like other dollars, it is subdivided into 100 cents. The nickname for the Canadian dollar is the Loonie, because the Canadian 1 dollar coin has a loon on the back of it. The Loonie can also refer to the USD/CAD pair on the forex market.

    The CAD is one of the major forex currencies and is currently the 7th most traded currency in the world.

    Currently circulating coins are 5 cents, 10 cents, 25 cents, 50 cents, 1 dollar, and 2 dollars. Production of the 1 cent coin was discontinued in 2012. Currently circulating banknotes are 5, 10, 20, 50, and 100 dollar. Beginning in 2011,Canada started phasing in banknotes made of polymer, not paper.

    The FPA has heard rumors that the C$100 polymer notes smell like maple syrup. So far, no one has provided us with any samples to check.
     

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y/y

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