The official currency of Canada is the Canadian dollar. This has different characteristics from other currencies in the world. In this article, we will talk about the most relevant data of this and we will indicate the exchange rate that it has with respect to other currencies.
Below you have an index with all the points that we are going to deal with in this article.
The legal currency of Canada is the Canadian dollar, its ISO code is CAD and its symbol $ o C$. The fractional currency is penny o cent, and one hundred of these are equal to one dollar. Its history began in April 1871, when, after several years of uncertainty, the government approved the Monetary Unification Law o Uniform Currency Act.
The banknotes that are currently in circulation are those of 5, 10, 20, 50 and 100 CAN. On the other hand, we find coins of 5, 10 and 25 cents, and 1 and 2 dollars. The penny was discontinued in 2013.
While the coins are produced by the Royal Canadian Mint (Winnipeg), the banknote maker is the Bank of Canada (Ottawa). In all of them, the inscriptions appear in both English and French, since both are the official languages of the country.
There are some models made of materials such as silver and gold that have a higher value and are collectible. These often commemorate a significant moment in the country's history or honor a prominent person.
The value of the Canadian dollar against other major currencies in America and Europe is as follows:
- 1,00 CAD = 13,97 Mexican pesos (MXN)
- 1,00 CAD = 0,74 US dollars (USD)
- 1,00 CAD = 0,69 euros (EUR)
- 1,00 CAD = 2.116,22 Colombian pesos (COP)
- 1,00 CAD = 482,592 Chilean pesos (CLP)
- CAD 1,00 = 2,41 peruvian soles (PEN)
- 1,00 CAD = 11,43 Argentine pesos (ARS)
- 1,00 CAD = 35,07 Dominican pesos (DOP)
- 1,00 CAD = 4.126,27 Paraguayan guaranies (PYG)
- CAD 1,00 = 5,45 Guatemalan quetzals (GTQ)
Currency exchange and use
In Canada you will find multiple change houses in which to get the official currency of the country. However, generally, you can also carry out this transaction in a bank in your country of origin, before making the trip to Canada.
Also, credit and debit cards can be used in most establishments. Traveler's checks were also used to pay in the past, and although they are accepted (provided they are in Canadian dollars), they are becoming obsolete.
In Canada it is common to give a tip of around 15% on the final price of the product in establishments such as restaurants. Failure to do so may be construed as a rude gesture.
The coins that are most useful during a trip to Canada are the 25 cents and 1 dollar, since they are those requested by the dispensing machines.
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