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LOCAL CURRENCY IN CANADA

Would you like to know name of the currency in Canada? The local money in Canada is called Dollar.

The Canadian Dollar is issued and managed by the Bank of Canada. To find out the current currency exchange rates for Dollar to other major currencies of the world, click on foreign currency rates.

Canadian Currency Information
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The currency used in Canada is called as the Dollar. This currency is denoted with the currency sign $ or C$ and the ISO 4217 Code for the Canadian Dollar is CAD. The Dollar, is the official currency of the Canada . It is divided into 100 smaller units called 1/100 Cent (English) and sou (colloquial) (French) .

The constitution of Canada provides that the Canada government shall have the power to print the Canadian Dollar and 1/100 Cent (English) and sou (colloquial) (French) coins to be used as a legal tender in Canada. The Canadian Dollar bank notes and 1/100 Cent (English) And Sou (colloquial) (French) coins are both designated as "legal tender" in payment of debts.

The Canadian Dollar bill uses the decimal system, consisting of 100 equal units.

The symbol $ or C$ , usually written before the numerical amount, is used for the Canadian Dollar.

Currently printed bank notes denominations are $5, $10, $20, $50, $100[citation needed] and the coins are minted in the denominations of 1¢, 5¢, 10¢, 25¢, $1, $2 50¢.

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How Does Balance of Trade and Investment Affect the Value of the Canadian Dollar
Financial analysts regularly cite the balance of trade and investment in Canada as the most important influence on the value of the Dollar. The difference between what the Canada exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Dollar exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Dollar exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Canadian Dollar.
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