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Canadian currency: history, description and course

Everyone knows what the US dollars look like, but few people know what currency unit in the neighboring North American country. Along with this, Canada is the second largest state in the world with one of the most powerful economies. Millions of tourists come here every year, and tens of thousands of people immigrate in the hope of finding a good job, a better life. Canadian currency

Russians are increasingly paying attention to this wonderful country, so familiarity with the state currency of Canada is very important.

Short story

Officially, the Canadian dollar began to be used since 1858. It was initially divided by 100 cents. However, before this currency was put into circulation, the so-called Spanish dollars (real) were used in Canada.

Then they were replaced by Canadian pounds, but in 1841 the English-speaking part of Canada introduced a gold dollar, which consisted of five shillings. Since 1858, it began to be used throughout the country, although then, of course, it was very different from the modern version.

Description

The currency of Canada has the international designation code CAD. In the Forex market, it is one of the most used and traded monetary assets.
canadian dollar

Until recently, in Canada, as in most other countries of the world, classic paper banknotes and metal coins were used. However, since 2011, the government began to gradually replace them with polymer bills, somewhat reminiscent of plastic. Such banknotes are more durable, reliable and more practical than paper ones. Moreover, faking them is more difficult.

Thus, the Canadian dollar today is one of the most advanced currencies in the world. In technical terms, as well as in safety and practicality, not every monetary unit today can compare with it.

Course and exchange operations

As of November 2017, the Canadian dollar against the US dollar is about $ 0.79, that is, for one USD, you can get about 1.27 CAD. Of course, the exchange rate is constantly changing, so the indicators can be different, but, according to statistics, the Canadian currency stably costs a little less than the American one.

As for the Canadian dollar to the Russian ruble, the situation is approximately the following: for one Russian ruble you can get only 0.022 CAD. Thus, one Canadian dollar contains about 46 rubles.

The currency of this country is quite stable and reliable. In addition, it is one of the most popular in the world, second only to the US dollar and euro in demand. Demand for it is about as high as, for example, Chinese yuan or British pounds.
Canadian dollar to ruble

Due to the popularity of the currency of Canada, many banks work with it, and in different countries. Canada itself is a highly developed country where you can safely come with only a credit card. Bank transfer is almost everywhere, even in small towns.

In addition, in any city there are a large number of ATMs and financial organizations serving foreign citizens as well. Direct currency exchange is possible not only at the airport or hotels, but also at all banks, various financial institutions, as well as in large shopping centers and supermarkets.

You can also easily change US dollars, euros, British pounds and some other currencies. With rubles, of course, you can also come, but they will not be able to exchange them everywhere. It’s best to convert your country's currency to American dollars before coming to Canada, then to change them to Canadian.Such a double manipulation will save money on bank commissions, since in Russia you can’t exchange directly for Canadian currency everywhere, and the fee for such an operation will be high. It is more profitable to exchange money twice.

Conclusion

The Canadian currency has become so popular and in demand because the country itself has a thriving economy. Financial well-being, beautiful nature and a progressive legal system attract here not only a huge number of tourists and immigrants.
canadian dollar to us dollar

Huge foreign investment is going into the Canadian economy, but the North American country itself also lends and invests in foreign enterprises. Of course, in the near future, the Canadian currency is unlikely to become one of the world currencies along with the US dollar and the euro, but it will certainly become more and more popular.


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