What type of money does Canada use?
The currency of Canada is the Canadian dollar (sign: $; code: CAD). It is divided into 100 cents.
The Canadian dollar was printed for the first time 1817 by the Bank of Montreal. The currency was official declared in 1858 by the country. Before Canadian dollar in Canada was used Canadian pound. One Canadian pound was equal to four U.S. dollars.
The standardization of the U.S. dollar s contributed to the accepting of the dollar by the country.
The words on the notes are written in English and French and on the reverse side of the notes the name and the title are written in Latin (the Monarch of Canada).
Canadian coins are issued by the Royal Canadian Mint while the bills are issued by the Bank of Canada.
There are several slang terms for the Canadian dollar such as “buck”, like in U.S. and another term “loonie”. “Loonie” also refers to $1 coin, and “toonie” refers to a $2 coin.
In the economy of the Americas the Canadian dollar has an important role. Since 1950s it has been an important part of the British, French and Dutch Caribbean state’s finance systems.

