We use cookies to improve your website experience and provide more personalized services to you, both on this website and through other media. By continuing to use this website, you agree to our use of cookies as explained in our Cookie Policy. Please read our Cookie Policy for more information on how we use cookies and how you can disable them.
Unlock exclusive savings with this combo product, enjoying the convenience of carrying both card and cash in one sleek solution
NewBuy, Sell or Transfer Canadian Dollar (CAD) in India at the best exchange rates
The Canadian dollar, referred to as CAD/C$, is the national currency of Canada. The minting of Canadian coins began in the year 1858. In the same year, the first Canadian dollar was also issued. All those provinces that became a part of the Canadian Federation, began using CAD as their currency. The Canadian dollar was uniformly introduced across the country in 1871 under the Uniform Currency Act of April 1871. Before this, several provinces of the country had their own set of currencies. However, with the coming of the CAD, a uniform monetary system came to be prevalent. Before CAD was inducted into the Canadian economy, Canada Pound was used for transaction purposes. An end to it brought the beginning of the bright future of the Canadian dollar.
The two major events in the history of the Canadian dollar are the pegging of CAD to USD (US dollars) and the permission granted to CAD to freely move across the country. Canada manages both coins and currency notes. Currently, banknotes issued are 5, 10, 20, 50, and 100 CAD and the coins issued are 5, 10, 25, and 50 cents. In 1987, 'Loonie ($1 coin)' was introduced but discontinued after two years. Later on 'Toonie ($2 coin) was also introduced but discontinued by 1996. The value of CAD was first set following changes in the Forex market. However, between 1962-70, under the Bretton Woods Agreement, the CAD exchange rate was fixed. By 1970, the Bretton Woods Agreement weakened, and CAD was once again allowed to move freely and change the exchange rates as per the Forex Markets.
The Bank of Canada (BoC) is the central bank of the country that manages and executes the Canada Dollar currency in the country. Introduced in 1935 in Ottawa, the bank maintains autonomous monetary policies for better flow and management of the Canadian currency. The bank's policies are framed and executed by the Board of Governors. The Frontier Series of the Canadian currency is quite a popular event. In June 2011, the country decided to bring an end to paper notes and introduced polymer banknotes.
Currently, the 7th Frontier Series is circulating in the country. It began with issuing banknotes of 100 CAD. After its success, later on, the rest of the banknotes of 5, 10, 20, and 50 CAD were also introduced. You must know that Canada issues banknotes made of polymer, and synthetic fibre and not those made of paper. This is done to assure maximum protection against the forging and forfeiting of the currencies.
The Canadian dollar is considered to be one of the world's most stable currencies. Time and again it has proved so with the stable political and economic conditions of the country. Currently, the US Dollar is a common benchmark for the Canadian dollar. There are several factors related to politics and the economy of the country that can impact the exchange rate of the CAD in the international market.
Canada produces several commodities and also trades with them, like oil, potash, zinc, etc. A rise or decline in the price of commodities in the international market will also impact the value of CAD. A healthy international trade means a higher CAD value and a stable economy for Canada and vice-versa.
Bank of Canada, in Ottawa, is responsible for governing monetary operations in the country. It issues banknotes and coins for the other banks in the country. So, each policy that the Board of Governors of BoC introduced directly affects CAD. So far, Canada has maintained a balanced and stable economy.
Job creation and eradication of unemployment are essential for an economically powerful country. It heavily impacts the currency value of the country. Apart from this, an alarming rise in the national debt of Canada against any other country can lead to the devaluation of CAD. So, maintaining debts and a budget deficit is important.
Political stability is one basic requirement of any country. Continuous changes and political turbulence affect not just the country but also the international reputation. It leads to distrust in countries and they may seize from investing or trading. So, be it economical, social, or financial, any of these aspects can only run smoothly when there is political peace in the country.
The rate at which the prices of goods and services increase over time is known as the inflation rate. If Canada experiences a higher inflation rate as compared to the international inflation rate, it can lead to a negative impact on the exchange rate of CAD. This is because a high inflation rate brings down the purchasing capacity of CAD in the international markets and thus leads to its overall devaluation.
| Currency Name | Canadian Dollar |
| Short Name | CAD |
| Nicknames | Buck, Huard, Loonie, Piastre |
| Symbol (s) | $, C$, CAD$ |
| Unit | 1/100, Cent |
| Frequently Used Coins | C$5, C$10, C$20, C$50, C$100 |
| Rarely Used Coins | 50¢ |
| Frequently Used Bank Notes | USD1, USD5, USD10, USD20, USD50, USD100 |
| Rarely Used Bank Notes | NA |
| Central Bank, Name & Website | Bank of Canada | www.bankofcanada.ca |
| States and Territories that use the Canadian Dollar as a part of their legal tender | Saint Pierre and Miquelon |
Select currency and denomination you need to carry along
Option to choose the doorstep delivery or branch pick up
Make payment via multiple payment options like debit card, credit card & Netbanking
Receipt of forex order completion at blocked rate
| Currency Name | Buy Rate (Card Rate) | Sell Rate |
|---|---|---|
| View Detailed Rate card | ||
