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Canadian Dollar (CAD)

The Canadian dollar (CAD) is the official currency of Canada, divided into 100 cents and issued by the Bank of Canada. It is commonly called the loonie, after the water bird on the one-dollar coin.

Updated Sep 19, 2026, 12:02 AM

CAD
From
To

Converted amount

0.62 EUR

1 CAD = 0.62269 EUR · 1 EUR = 1.6059 CAD

CAD → EUR

Updated Sep 19, 2026, 12:02 AM

CAD against the major currencies

Currency1 CAD =1 unit in CAD
USDUS Dollar0.714691.3992
EUREuro0.622691.6059
GBPBritish Pound0.534671.8703
JPYJapanese Yen112.2460.008909
CHFSwiss Franc0.588421.6995
AUDAustralian Dollar1.00380.99626
CNYChinese Yuan4.79850.20840
INRIndian Rupee68.60320.01458
XOFWest African CFA Franc408.4030.002449
XAFCentral African CFA Franc408.4030.002449
MADMoroccan Dirham6.76500.14782
NGNNigerian Naira950.4210.001052
ZARSouth African Rand11.62540.08602
BRLBrazilian Real3.67090.27241
MXNMexican Peso12.30140.08129
RUBRussian Ruble60.32720.01658
TRYTurkish Lira34.86450.02868
AEDUAE Dirham2.62470.38099
SARSaudi Riyal2.68010.37312
SEKSwedish Krona7.03000.14225
NOKNorwegian Krone6.73370.14851
PLNPolish Zloty2.71610.36817
KRWSouth Korean Won991.2010.001009
SGDSingapore Dollar0.912361.0961

The figure shown is the mid-market rate: the midpoint between the buy and sell price, updated hourly. It is the rate before any margin is added, so a bank or a bureau de change will quote you a lower one.

About the Canadian Dollar

The Province of Canada adopted a decimal dollar in 1858, replacing pounds, shillings and pence, and the Uniform Currency Act of 1871 extended it to the new Dominion. The Bank of Canada was created in 1934 and opened the following year, taking note issue away from the commercial banks. Canada withdrew the one-cent coin in 2012: prices are still calculated to the cent, but cash totals are rounded to the nearest five cents, while card and transfer payments are not rounded at all.

The Canadian dollar is a commodity currency. Crude oil, natural gas, lumber and metals dominate exports, and the currency tends to firm when their prices rise. It is also tied closely to its neighbour: the United States takes the large majority of Canadian exports, so US growth figures and Federal Reserve decisions often move the Canadian dollar as much as Bank of Canada announcements do.

Canada is the only country where the Canadian dollar is legal tender, though shops in United States border towns and some airports accept it informally, usually at a rate well below the mid-market one.

CAD at a glance

Symbol
$ (C$, CA$)
Subunit
1 dollar = 100 cents
Central bank
Bank of Canada, created in 1934
Introduced
1858, when Canada adopted decimal currency
ISO 4217 code
CAD

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FAQ

What is the Canadian dollar?

The Canadian dollar is the official currency of Canada, written CAD under the ISO 4217 standard and shown as $ or C$ to distinguish it from other dollars. One dollar is divided into 100 cents. It has been issued by the Bank of Canada since 1935.

Why is the Canadian dollar called the loonie?

The one-dollar coin introduced in 1987 carries a common loon, a diving bird found across Canada, and the nickname stuck to the coin and then to the currency itself. The two-dollar coin that followed in 1996 is known as the toonie. Both names are informal, but they are used everywhere, including in the financial press.

Does the Canadian dollar follow the US dollar?

The two currencies are correlated because the United States is by far Canada's largest trading partner, but they are not linked by any peg and the gap between them widens and narrows constantly. Oil prices are the main source of divergence: a rise in crude usually supports the Canadian dollar against its American counterpart.

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