The Canadian Dollar, or CAD, is the official currency of Canada. It became the country's money in the 1850s, when Canada moved to a decimal system. This replaced an older mix of British and local currencies.

In the past, several banks issued their own notes. There was no single national standard for many years. The Bank of Canada was created in 1934 to bring order to this. It is now the main authority for issuing notes and managing the currency.

The CAD trades on a floating exchange rate. Its value moves with economic news, interest rates, and global commodity prices, since Canada is a major exporter of oil and resources.

The one-dollar coin shows a loon, a native bird, which is why the currency is nicknamed the 'loonie'. The two-dollar coin is fondly called the 'toonie'.

Modern Canadian notes are printed on polymer, not paper. They are more durable and carry advanced security features.

Today, the CAD is one of the most traded currencies in the world. Many Indians living and working in Canada send money home to India regularly.

Earlier, this meant bank visits and forms. Now you can send money online through ZoltMoney in a few simple steps after checking the rate and fees.