What is the Canadian Dollar?
The official currency of Canada, the Canadian dollar is often referred to as the ‘loonie’ by traders due to the image of a loon on the one-dollar coin.
Uses of the Canadian Dollar
The Canadian dollar is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes C$ to distinguish it from the U.S dollar. It is divided into 100 cents.
Risks of the Canadian Dollar
The Canadian Dollar is considered one of the world’s most stable currencies. It is the fifth most traded currency in the world. The Canadian Dollar is heavily dependant on commodity prices.