The Canadian dollar is the monetary unit of Canada and since 2011 is in seventh place in the list of best-selling currencies in the world, which is 5.3% of the daily trading turnover in the world. In abbreviated form this unit is designated as a dollar sign with the previous letter C - C $.
The history of the appearance of this money is as follows. In April 1871, the Canadian Parliament passed the Unified Currency Act. He replaced the monetary units of various provinces of the country with a single system - the Canadian dollar. By the start of World War II, the exchange rate against the US dollar was set at C $ 1.10 = US $ 1.00. After some time, this quotation was changed, and the value of monetary units was equalized. In 1950, the Canadian dollar was "released." Re-fixing occurred only in 1962 at the level of C $ 1.00 = US $ 0.925, and it existed until 1970, after which the value of the currency again became free, remaining one to the present.
Today, the Canadian dollar is issued in the form of coins and banknotes. The first ones are made by the Royal Canadian Mint in Winnipeg, and are currently found in denominations of 5, 10, 25, as well as 50 cents, as well as one and two dollars. Previously, there was a one-cent coin, the issue of which was discontinued on February 4, 2013. Since that time, in cash, it is possible to round off up to five cents, despite the fact that the cent continues to be legal tender.
The external design of the coins, as a rule, has Canadian symbols (usually representatives of the animal or plant world) on the back and a portrait of Elizabeth II on the front. However, some cents that have remained in circulation from earlier times are distinguished by a portrait of George VI. Fifty-cent coins are rare in circulation and are often collected by collectors.
On July 3, 1934, a single Bank of Canada was founded , combining ten financial institutions. From this time began the production of paper banknotes in denominations of 1, 2, 5, 10, 20, 25, 50, 100, 500 and 1000 dollars. Significant changes in the design of notes took place in 1935, then new series were introduced in 1937, 1954, 1970, 1986 and 2001. In June 2011, the Canadian dollar received a new design, and began to be produced on a polymer basis, unlike the previously common cotton fiber.
As already noted, this currency has repeatedly had both a free and a fixed exchange rate. The value of this monetary unit fell after 1960, which was also associated with the election of the Prime Minister in 1963. After free pricing was allowed in 1970, there was a positive effect on the Canadian dollar: the exchange rate began to grow and amounted to $ 1.0443.
Subsequently, the record low cost of this unit was noted at the beginning of the 2000s and amounted to only $ 0.6179. This was due to the technological “boom” that was concentrated in the United States. Since that time, the currency began to grow gradually, and this was due to constantly rising prices for commodities exported from Canada (mainly oil). Today the quotation is as follows: 1.0356 to the US dollar, Canadian dollar to the ruble - 0.032. Can be found in other values, as the cost is constantly changing.