CAD information
About the Canadian Dollar (CAD)
What Is the Canadian Dollar (CAD)?
The Canadian dollar, symbolized as $ and often abbreviated as CAD, is the official currency of Canada. It's divided into 100 cents (¢). Unique to Canada, the dollar coin is commonly referred to as the "loonie," a nod to the image of a loon on its reverse side. The Canadian dollar is the sole legal tender in Canada. It holds a significant position in the global economy, being the sixth-most held reserve currency worldwide, favored for Canada's economic stability and strong sovereign position.
The Canadian dollar (CAD) is issued by the Bank of Canada, which is the central bank of the country. Established in 1934, the Bank of Canada is responsible for formulating Canada's monetary policy, issuing banknotes, regulating and supporting Canada's principal systems for clearing and settling payments, and promoting a safe and efficient financial system. The design and production of Canadian banknotes are overseen by the Bank of Canada, with a focus on ensuring their security and integrity as legal tender.
What Is the History of CAD?
In the early 19th century, Canada saw a mix of currencies, including British pounds, U.S. dollars, and Spanish dollars, circulating within its borders. As trade with the United States intensified, the necessity for a unified currency became clear, leading to the introduction of the Canadian dollar in 1858. This strategic move, aligning the Canadian dollar at par with the U.S. dollar, marked a significant shift from the previously dominant British pound and adopted the decimal system, simplifying transactions and distancing itself from the British pounds, shillings, and pence system. The gold standard, a mainstay of international finance, was adopted in 1853 but abandoned during World War I. Throughout the 19th and 20th centuries, the Canadian dollar underwent various changes, including pegs to the U.S. dollar during and post World War II. In 1950, Canada transitioned to a floating currency, allowing the Canadian dollar to occasionally trade above the U.S. dollar, until 1962 when it was pegged again at $0.925 USD. This peg remained until 1970, after which the Canadian dollar was allowed to float freely once more. The following decades witnessed the Canadian dollar's highs and lows, influenced by global economic trends, domestic policies, and Canada's significant exports, particularly in natural resources like oil.
Notes and Coins of CAD
The coinage includes the penny (1¢), which, although no longer produced or widely circulated, remains legal tender. The nickel (5¢), dime (10¢), quarter (25¢), and half dollar (50¢). Notably, the loonie and toonie, one and two-dollar coins, are essential for daily transactions in Canada.
Canadian banknotes, made from durable polymer, celebrate the nation's history and achievements. The $5 note pays tribute to Sir Wilfrid Laurier and space exploration, the $10 to Sir John A. Macdonald and Canada's landscapes, and the $20 to Queen Elizabeth II and the Vimy Memorial, symbolizing royal and military heritage. The $50 and $100 notes feature former Prime Ministers and themes of Arctic sovereignty and medical advancements.
Is CAD the Same Value as the USD?
No, the Canadian Dollar (CAD) is not the same value as the United States Dollar (USD). Although both currencies are called "dollars," they have different values on the foreign exchange market. As of January 2024, 1 Canadian Dollar was worth approximately 0.75 US Dollars. This exchange rate means that the Canadian Dollar is less valuable than the United States Dollar, so you would need more than one CAD to purchase one USD. However, it's important to note that exchange rates are constantly changing, so the exact value can vary from day to day.
Is CAD a Strong Currency?
The Canadian dollar, commonly referred to as the "loonie," is considered a relatively strong and stable currency, primarily due to Canada's sound economic fundamentals. While it doesn't match the supremacy of the US dollar or the Euro in global finance, it holds its own respectably. As of January 2024, 1 Canadian dollar was equivalent to approximately 0.75 US dollars, demonstrating its moderate strength in the foreign exchange market. The strength of the Canadian dollar is influenced by various factors, including Canada's political stability, a robust banking system, and a wealth of natural resources. Additionally, Canada's close trading relationship with the United States also plays a significant role in the currency's valuation. The Canadian dollar's value can fluctuate based on global oil prices, given the country's status as a major oil exporter.
PAPER to CAD conversion rate trend
Conversion rate comparison of various exchanges
Exchange | Price | Maker / Taker Fee | Tradable |
---|---|---|---|
BitgetBest | $0.005574 | 0.0200% / 0.0320%VIP 7 |
How to buy Dope Wars Paper
Buy PAPER (or USDT) for CAD (Canadian Dollar) offers
Merchants (trades/completion rate) | Price | Amount/limit Low to high | Payment methods | Zero fees Action |
---|---|---|---|---|
F Fast.trade 178 trades|Completion rate 100.00% | 1.37 CAD | Amount10700 USDT Limit500 - 6000 CAD | ||
F FabulousPay 955 trades|Completion rate 100.00% | 1.37 CAD | Amount13744.94 USDT Limit300 - 8000 CAD | ||
e eel 122 trades|Completion rate 100.00% | 1.37 CAD | Amount9014.02 USDT Limit500 - 9999 CAD | ||
T TheNewdawn 335 trades|Completion rate 98.00% | 1.37 CAD | Amount1992.14 USDT Limit500 - 3950 CAD | ||
T TurboPay 148 trades|Completion rate 99.00% | 1.37 CAD | Amount2225.98 USDT Limit400 - 4000 CAD |
Sell PAPER (or USDT) for CAD (Canadian Dollar) offers
Merchants (trades/completion rate) | Price | Amount/limit High to low | Payment methods | Zero fees Action |
---|---|---|---|---|
T TRINIUSDT 37 trades|Completion rate 80.00% | 1.37 CAD | Amount15000 USDT Limit800 - 3500 CAD | ||
M Miloudkhalil 201 trades|Completion rate 99.00% | 1.36 CAD | Amount3368 USDT Limit100 - 4700 CAD | ||
C Crypto Tamizhan 38 trades|Completion rate 88.00% | 1.36 CAD | Amount25000 USDT Limit400 - 1497 CAD | ||
D Dironek 39 trades|Completion rate 87.00% | 1.35 CAD | Amount2751.29 USDT Limit13 - 300 CAD | ||
V Virchange 17 trades|Completion rate 100.00% | 1.35 CAD | Amount27605.28 USDT Limit400 - 5000 CAD |
What factors influence the conversion rate of Dope Wars Paper to Canadian Dollar?
Dope Wars Paper to Canadian Dollar is rising this week.Conversion tables
The exchange rate of Dope Wars Paper is decreasing.PAPER to CAD
CAD to PAPER
Today vs. 24 hours ago
Amount | 20:22 today | 24 hours ago | 24h change |
---|---|---|---|
0.5 PAPER | $0.002046 | $0.001994 | +2.61% |
1 PAPER | $0.004092 | $0.003988 | +2.61% |
5 PAPER | $0.02046 | $0.01994 | +2.61% |
10 PAPER | $0.04092 | $0.03988 | +2.61% |
50 PAPER | $0.2046 | $0.1994 | +2.61% |
100 PAPER | $0.4092 | $0.3988 | +2.61% |
500 PAPER | $2.05 | $1.99 | +2.61% |
1000 PAPER | $4.09 | $3.99 | +2.61% |
Today vs. 1 month ago
Amount | 20:22 today | 1 month ago | 1M change |
---|---|---|---|
0.5 PAPER | $0.002046 | $0.003055 | -33.03% |
1 PAPER | $0.004092 | $0.006110 | -33.03% |
5 PAPER | $0.02046 | $0.03055 | -33.03% |
10 PAPER | $0.04092 | $0.06110 | -33.03% |
50 PAPER | $0.2046 | $0.3055 | -33.03% |
100 PAPER | $0.4092 | $0.6110 | -33.03% |
500 PAPER | $2.05 | $3.06 | -33.03% |
1000 PAPER | $4.09 | $6.11 | -33.03% |
Today vs. 1 year ago
Amount | 20:22 today | 1 year ago | 1Y change |
---|---|---|---|
0.5 PAPER | $0.002046 | $0.0006400 | +219.68% |
1 PAPER | $0.004092 | $0.001280 | +219.68% |
5 PAPER | $0.02046 | $0.006400 | +219.68% |
10 PAPER | $0.04092 | $0.01280 | +219.68% |
50 PAPER | $0.2046 | $0.06400 | +219.68% |
100 PAPER | $0.4092 | $0.1280 | +219.68% |
500 PAPER | $2.05 | $0.6400 | +219.68% |
1000 PAPER | $4.09 | $1.28 | +219.68% |
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