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  • As per RBI norms, the GST is applicable as per travellers.
  • This amount is calculated considering one traveller. You can further add/edit travellers in preconfirmation page which can impact the total amount.
  • You may block foreign currency by paying 2% of total transaction value. This blocked rate will be valid for 2 working days.
  • Disclaimer Note for TCS
    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    (ii) Tax Collection at Source (TCS) at the rate of 20% will be levied under section 206C(1G)(b) of the Income Tax Act on all other remittances not covered in (i) above without any threshold limit in a financial year under the Liberalised Remittance Scheme of the Reserve Bank of India.The TCS collected will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for non-refund of TCS
    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C(1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for TCS
    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    (ii) Tax Collection at Source (TCS) at the rate of 20% will be levied under section 206C(1G)(b) of the Income Tax Act on all other remittances not covered in (i) above, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    The TCS collected will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for non-refund of TCS
    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C (1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
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Canadian Dollar (CAD) - Currency of Canada

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About Canadian Dollar (CAD)

The national currency of Canada is the Canadian Dollar. Very popular among traders, this Canada currency is also referred to as a loonie and as huard in French, and is abbreviated as $, Can$ or C$ to distinguish it from other dollar-denominated currencies. This currency comprises 2% of the global currency reserve and owes its soundness to an economically stable government and political domination. The Canadian dollar is the fifth most held reserve currency in the world. Up ahead is the U.S. dollar, the euro, the japanese-yen and the great britain poundsterling

    1. The short name for Canada currency is CAD.
    2. The nicknames for CDN dollar is Buck, Huard, Loonie, Piastre.
    3. The most repeatedly used coins are C$1, C$2, 1¢, 5¢, 10¢, 25¢.
    4. The coin of 50¢ is sparingly used.
    5. The most frequently used banknotes are C$5, C$10, C$20, C$50, C$100.

Canada Dollar - History of the Canadian Dollar

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.

Factors Affecting the Canadian Dollar

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.

1. Commodity prices 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.

2. Policies of BoC

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.

3. Economic conditions of the country

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.

4. Political scenario

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.

5. Inflation rate

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.

Quick Facts About Canadian Dollar(CAD)

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

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The Canadian Dollar Currency

The currency is quite popular among traders, courtesy Canada’s economic stability, sound government and a steady political system. Some businesses in the northernmost regions of the United States also accept the Canadian Dollar especially in coins.

Another reason that makes the USD such a prime factor for many countries across the globe is that they consider its value as a benchmark to peg their own currency value.

states that use the US canadian Dollar as a part of their legal tender:
Saint Pierre and Miquelon.


How to buy forex online?
To find the latest INR to CADrates and other exchange rates today, simply visit the Thomas Cook website . Bear in mind that Thomas Cook is the best money converter in the country, along with being a customized tour package maker and always ensures the best currency rate.

Currency Rate Today

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Frequently Asked Questions

What is a Canadian Dollar? How strong is it?
It is Canada’s own dollar. It is a very colourful and durable currency which does not get affected even if gone wet. It is on the strongest currencies and is ranked amongst the most held reserve currency globally.
I have US dollars in currency. Can I use that in Canada instead of exchanging my USD to CAD?
https://www.thomascook.in/foreign-exchange/us-dollar is widely accepted in most of the countries, and Canada is no different. The American currency is accepted everywhere in Canada and there should be no hassle for you when conducting your transactions in that currency.
How often does the Canadian Dollar rate fluctuate?
Since the Canadian Dollar utilises a floating exchange rate policy, its exchange rate is determined in relation to other foreign currencies. The currency doesn’t necessarily always move in one direction, and therefore may rise against one but deteriorate against another currency.
I am travelling to Canada Tourisim after which I will be heading to the US. Should I buy Canadian Dollar and then later by USD or is it OK to just buy USD for the entire trip?
The USD is widely accepted across Canada and buying just that shouldn’t be a problem. However, there could happen some scenarios where a vendor may not accept the US currency. In that case buying Canadian dollars would be inevitable. You may get in touch with our team of experts to get an understanding on the apt way forward for you.
Can I buy Canadian Dollars online?
Yes. You may log on to our website www.thomascook.in to check out live rates, and you may book forex online at your convenience by filling up a simple form and submitting the necessary documents to complete the transaction.

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