What is the currency of Canada?

The currency of Canada is the Canadian dollar. It is commonly written with the symbol $, or C$ when it must be distinguished from other dollars, and its international currency code is CAD.

Canada adopted the dollar in the 19th century as its monetary system developed alongside closer economic ties with the United States. The Bank of Canada, established in 1935, issues Canada's banknotes and manages monetary policy. Canadian coins are issued by the Royal Canadian Mint.

Canadian money is sometimes nicknamed the “loonie” because the one-dollar coin features a common loon. The two-dollar coin is called the “toonie.” Canadian banknotes are polymer notes, designed to be durable and difficult to counterfeit.

A common mix-up is choosing the U.S. dollar because Canada and the United States share a border and conduct extensive trade. However, Canada has its own currency, and the Canadian dollar's exchange value changes independently of the U.S. dollar.