The CAD (symbol: $; code: CAD) is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes CA$, Can$ or C$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents (¢).
Owing to the image of a common loon on its back, the dollar coin, and sometimes the unit of currency itself, are sometimes referred to as the loonie by English-speaking Canadians and foreign exchange traders and analysts.
Accounting for approximately 2% of all global reserves, the Canadian dollar is the fifth-most held reserve currency in the world, behind the U.S. dollar, the euro, the yen and the pound sterling. The Canadian dollar is popular with central banks because of Canada’s relative economic soundness, the Canadian government’s strong sovereign position, and the stability of the country’s legal and political systems.