The Canadian dollar, denoted by CAD or C¢, is the official currency of Canada. One hundred cents (¢) add up to one Canadian dollar. Canada uses decimal currency with 100 cents to each Canadian dollar (CAD $1.00). The bills issued are in denominations of $5, $10, $20, $50, $100 and $1000; coins include 1 cent, 5 cents, 10 cents, 25 cents, 50 cents, and the $1 and $2 coins. The nation adopted the dollar instead of a pound sterling system due to the prevalence of Spanish dollars in North America in the 18th and early 19th centuries. Additionally, the US dollar's standardization factored into the nation's decision.
The Canadian dollar is often referred to as "buck," as with the United States dollar. Additionally, the word "loonie" is used to distinguish the Canadian dollar from other currencies, especially in the context of foreign exchange trading and the currency markets. In Canadian French, the currency is called "le dollar," and slang terms include "piastre" or "piasse" which is equivalent to the "buck" term in English. Finally, the French equivalent of "loonie" is "huard," and since huard is French for loon, the animal appears on the face of the coin.
