CAD (Canadian Dollar)

The Canadian dollar (sign: $; code: CAD) is the currency of Canada. It is normally abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents. As of 2007, the Canadian dollar was the 7th most traded currency in the world.

A number of central banks keep Canadian dollars as a reserve currency. The Canadian dollar is considered to be a benchmark currency.

In the economy of the Americas as a whole the dollar plays a similar role to that which the Australian Dollar (AUD) does in the Asia-Pacific region. The dollar (as a regional reserve currency) has been an important part of the British, French and Dutch Caribbean state's economies since the 1950s.

By observing how the Canadian dollar behaves against the U.S. dollar, global economists can indirectly observe internal behaviors and patterns in the US economy. The dollar has only evolved as a reserve currency since the 1970s when it was floated against all other world currencies.