The currency of Canada
Canadian
DollarCAD
The currency of Canada is the Canadian dollar (CAD), divided into 100 cents and issued by the Bank of Canada, with coins from the Royal Canadian Mint. It has floated freely since 1970: one Canadian dollar costs ₹68.89 at our selling rate right now.
- Code
- CAD
- Symbol
- C$CA$
- Subunit
- 100 cents
- In use since
- 1858
What is the currency of Canada?
The currency of Canada is the Canadian dollar, code CAD, written $, or C$ when it must be told apart from other dollars. One Canadian dollar is divided into 100 cents. The Bank of Canada issues the notes and the Royal Canadian Mint makes the coins. The Province of Canada adopted the dollar in 1858, in place of the Canadian pound, and it has floated freely since 1970, so against the rupee it moves with the market: on 5 Oct 2026, one Canadian dollar was worth about ₹68.89 at our selling rate. A quote in CAD currency always means this dollar and not the US dollar, which is a separate currency at a different value.
Canadian Dollar at a glance
- Currency
- Canadian dollarIn French, dollar canadien
- Code
- CADNumeric code 124
- Symbol
- $, or C$CA$ and Can$ also tell it from other dollars
- Subunit
- 1 dollar = 100 centsThe cent sign is ¢; the 1 cent coin is no longer made
- Issuer
- Bank of CanadaThe Royal Canadian Mint makes the coins
- Introduced
- 1858Replaced the Canadian pound; the national currency since 1871
- Exchange rate
- FloatingFree-floating since 1970
- Used in
- Canada
- Banknotes
- $5, $10, $20, $50 and $100Polymer, in circulation since 2011; the $10 became a vertical note in 2018
- Coins
- 5, 10 and 25 cents, $1 and $2The $1 is the loonie and the $2 the toonie
Canada currency notes and coins
Canadian money comes as five polymer banknotes and five coins in everyday use. The $100 was the first polymer note, issued on 14 November 2011, the series was completed with the $5 and $10 on 7 November 2013, and a vertical $10 with Viola Desmond followed on 19 November 2018. A vertical $20 with King Charles III, unveiled on 3 September 2026, enters circulation from late February 2027. Each note is shown with what it costs in rupees at our selling rate today.
- Bank of CanadaFive dollarsC$5
Five dollars $5
≈ ₹344.46 today- Colour
- Blue
- Front
- Sir Wilfrid Laurier
- Back
- Canadarm2 and Dextre, space robotics
- Bank of CanadaTen dollarsC$10
Ten dollars $10
≈ ₹688.92 today- Colour
- Purple
- Front
- Viola Desmond and a map of the North End of Halifax
- Back
- The Canadian Museum for Human Rights in Winnipeg, an eagle feather and a Charter of Rights and Freedoms excerpt
- Bank of CanadaTwenty dollarsC$20
Twenty dollars $20
≈ ₹1,377.83 today- Colour
- Green
- Front
- Queen Elizabeth II
- Back
- The Canadian National Vimy Memorial in France, with poppies
- Bank of CanadaFifty dollarsC$50
Fifty dollars $50
≈ ₹3,444.59 today- Colour
- Red
- Front
- William Lyon Mackenzie King
- Back
- CCGS Amundsen, an Arctic research icebreaker
- Bank of CanadaOne hundred dollarsC$100
One hundred dollars $100
≈ ₹6,889.17 today- Colour
- Brown
- Front
- Sir Robert Borden
- Back
- Canadian medical innovation: a microscope, a 1923 insulin bottle, DNA and an ECG
Coins, in cents
A beaver on the 5 cents, the Bluenose schooner on the 10 cents, a caribou on the 25 cents, the loon on the loonie and a polar bear on the toonie. Newer coins show King Charles III on the front, and older ones Queen Elizabeth II.
- 55 cents
≈ ₹3.44 - 1010 cents
≈ ₹6.89 - 2525 cents
≈ ₹17.22 - 11 dollar
≈ ₹68.89 - 22 dollars
≈ ₹137.78
Sources: Bank of Canada, Frontier series; Royal Canadian Mint; colours as printed. Rupee values at our selling rate, 10:25 AM IST, 5 Oct 2026.
Ends in 2, so it rounds down
Ends in 3, so it rounds up
Cards are not rounded
The coin Canada stopped making
Canada struck its last one cent coin on 4 May 2012, and since 4 February 2013 cash totals are rounded to the nearest 5 cents. A new student or visitor paying in cash will meet it on the first day.
The first cent coins
The Province of Canada replaces pounds, shillings and pence with dollars and cents, and its first one cent coins are made that year.
The last penny is struck
The last one cent coin is struck at the Royal Canadian Mint in Winnipeg. Each penny had come to cost nearly 1.6 cents to make, and ending the coin saves about $11 million a year.
Pennies stop leaving the Mint
The Mint stops distributing pennies to banks. From then on cash totals are rounded to the nearest 5 cents: $10.02 becomes $10.00 and $10.03 becomes $10.05.
Pennies are still money
Pennies did not lose their legal tender status and are still money. Rounding applies only to the final total after tax, and cards, cheques and online payments are not rounded.
Sources: Government of Canada, news release on the farewell to the penny, February 2013; Royal Canadian Mint, 1 cent coin page; Budget 2012, on rounding after tax; Wikipedia, "Penny (Canadian coin)".
A dollar that floats free
The Canadian dollar has no fixed rate. The market has set its price since 1970, so its price in rupees can change from one day to the next.
No fixed rate since 1970
The Canadian dollar has floated freely since 1970. The market sets its price every day, and the rupee price moves with it.
One of the first to float
The Bank of Canada says Canada was the first major country to float its currency, in 1950. It went back to a fixed rate of 92.5 US cents in 1962 and floated again in 1970.
A busy currency
The Bank for International Settlements found the Canadian dollar on one side of around 6 percent of all currency trades in April 2025.
One unit in rupees · our selling rate, 5 Oct 2026
The Canadian dollar since 1858
Canada has counted in dollars since 1858, and its money has changed a great deal since, from the loonie to polymer notes. What changed along the way, in eight entries.
- EntryCanada
Dollars and cents arrive
The Province of Canada replaces the pound, shilling and pence with dollars and cents and issues its first decimal coins. The Uniform Currency Act of 1871 later makes the dollar the standard across the whole country.
Launch - EntryCanada
The Bank of Canada opens
On 11 March the Bank opens for business and issues its first banknotes the same day. Its Act had received royal assent on 3 July 1934.
- EntryCanada
The dollar floats again
Canada had floated its dollar from 1950 and fixed it at 92.5 US cents in 1962. In 1970 it lets the rate float again, and it has floated ever since.
- EntryCanada
The loonie
A $1 coin with a loon on the back replaces the $1 note, to save money. The nickname catches on straight away.
- EntryCanada
The toonie
On 19 February the $2 coin replaces the $2 note. It is the first bimetallic coin Canada makes.
- EntryCanada
Polymer notes begin
The $100 is issued on 14 November as the first polymer note, and the series is completed with the $5 and $10 on 7 November 2013.
- EntryCanada
The penny stops
On 4 February the Mint stops distributing pennies, and cash totals begin to be rounded to the nearest 5 cents. The last penny had been struck in May 2012.
Coin ends - EntryCanada
A King Charles III $20
On 3 September the Bank of Canada unveils a vertical $20 with King Charles III. It enters circulation gradually from late February 2027.
New note
Sources: Bank of Canada, history, first series, Frontier series and legal tender pages, and the speech on floating rates; Royal Canadian Mint; Government of Canada, farewell to the penny, 2013; The Canadian Encyclopedia; Wikipedia, "Canadian dollar", "Banknotes of the Canadian dollar" and "Penny (Canadian coin)".
Dollars and rupees side by side
Worked out at our selling rate at 10:25 AM IST on 5 Oct 2026. For the live rate on any amount, use the CAD to INR or INR to CAD converter.
| You pay | You get |
|---|---|
| ₹5,000 | C$ 72.58 |
| ₹10,000 | C$ 145.16 |
| ₹25,000 | C$ 362.89 |
| ₹50,000 | C$ 725.78 |
| ₹1,00,000 | C$ 1,451.55 |
| ₹2,00,000 | C$ 2,903.11 |
| You buy | It costs |
|---|---|
| C$ 50 | ₹3,444.59 |
| C$ 100 | ₹6,889.17 |
| C$ 500 | ₹34,445.85 |
| C$ 1,000 | ₹68,891.70 |
| C$ 5,000 | ₹3,44,458.50 |
| C$ 10,000 | ₹6,88,917.00 |
Spending Canadian dollars in Canada
Three things about Canadian money that help on the first day.
The $1 and $2 are coins
There are no $1 or $2 notes: the loonie replaced the $1 note in 1987 and the toonie the $2 note in 1996. A loonie is worth about ₹68.89, a toonie about ₹137.78, and the smallest note is the $5, about ₹344.46.
Loonie ₹68.89 · Toonie ₹137.78Local debit runs on Interac
Interac is the national debit network, and an Interac debit card needs a Canadian bank account, so it matters to students who open one. A visitor normally pays with a Visa or Mastercard, and it helps to carry some cash beside it.
Interac · Visa · MastercardTax and tips come on top
Sales tax is normally added at the till, and the rate depends on the province or territory. In a sit-down restaurant a tip of about 15 to 20 percent of the bill before tax is the usual advice.
15 to 20% of the pre-tax billTaking Canadian dollars from India
The Reserve Bank of India's rules apply to every currency, and the Canadian dollar is no exception.
Up to the equivalent of USD 3,000 per trip can leave India as Canadian dollar notes. The rest goes on a forex card or as a bank transfer.
Every resident can send up to USD 250,000 abroad each financial year under the Liberalised Remittance Scheme, travel included.
Tax collected at source applies once your foreign-exchange purchases in a financial year cross ₹10 lakh: nil when an education loan pays, 2% for self-funded education and medical treatment, and 20% for travel and everything else. It is credited against your income tax when you file.
Canadian dollars are on our booking form. Send your amount and the desk confirms your exact rate before anything is booked.
Book Canadian Dollars→Canadian dollar questions
The questions people type about the Canadian dollar, answered in full, in three groups.
The basics
7 questionsWhat is the currency of Canada?
The currency of Canada is the Canadian dollar, code CAD, divided into 100 cents. It is used from the capital, Ottawa, to every province and territory, with notes from the Bank of Canada and coins from the Royal Canadian Mint.
What is the full form of CAD in currency?
CAD stands for Canadian Dollar: CA is Canada's two-letter country code and D is for dollar, following the ISO 4217 standard, and its numeric code is 124. That is the CAD full form and the CAD currency full form alike, although CAD can also mean computer-aided design in engineering. On a page about money, and in any price list, it means the Canadian dollar.
What is the Canadian dollar symbol?
The Canadian dollar symbol, also called the Canadian dollar sign, is $, written before the amount in English, as in $20. It is the Canada currency symbol you will see on price tags, and because other dollars use the same sign, C$, CA$ or Can$ is written when it must be told apart. In French the sign goes after the figure, as in 20 $.
What is the Canada currency name?
The Canada currency name is the Canadian dollar, or dollar canadien in French. It is also searched as Canada dollar, Canadian currency, Canadian money or CDN currency, where CDN is short for Canadian, and all of these mean the same dollar. Only the word dollar is shared with other countries: the US, Australian and New Zealand dollars are separate currencies.
What are the loonie and the toonie?
The loonie is the Canadian $1 coin, named for the loon on its back, and the toonie is the $2 coin. The loonie replaced the $1 note in 1987 and the toonie, Canada's first bimetallic coin, replaced the $2 note on 19 February 1996.
How many cents make one Canadian dollar?
One Canadian dollar is 100 cents. The coins are the nickel (5 cents), dime (10) and quarter (25), plus the $1 loonie and $2 toonie, and the 1 cent penny is no longer made. Prices are written with two decimals, as in $12.50, which is twelve dollars and fifty cents.
Who issues the Canadian dollar?
The Bank of Canada issues the banknotes, and the Royal Canadian Mint makes the coins. The Bank opened on 11 March 1935, under an Act that received royal assent on 3 July 1934, and issued its first notes that same day.
Value and history
7 questionsIs the Canadian dollar fixed or floating?
The Canadian dollar floats: it has had no fixed rate since 1970, so the market sets its price. The Bank of Canada says Canada was the first major country to float its currency, in 1950, and it went back to a fixed rate of 92.5 US cents in 1962 before floating again.
When did Canada start using the dollar?
The Province of Canada adopted dollars and cents in 1858, in place of the Canadian pound, and issued its first decimal coins that year. Confederation came in 1867, and the Uniform Currency Act of 1871 made the dollar the standard across the whole country.
Which Canadian banknotes are in use?
Five polymer notes: the $5 (blue), $10 (purple), $20 (green), $50 (red) and $100 (brown), issued from 14 November 2011 to 7 November 2013. The $10 was redesigned as a vertical note with Viola Desmond on 19 November 2018, and there is no $1 or $2 note because those are coins.
Is there a new $20 note with King Charles III?
Yes, but it is not in wallets yet. The Bank of Canada unveiled a vertical polymer $20 with King Charles III on 3 September 2026, mostly green with a purple security stripe, and it enters circulation gradually from late February 2027. It keeps the Canadian National Vimy Memorial on the back, and until it arrives the $20 you get carries Queen Elizabeth II.
Are old Canadian dollar notes still valid?
Most are, yes: older $5, $10, $20, $50 and $100 notes remain legal tender. The $1, $2, $25, $500 and $1,000 notes stopped being legal tender on 1 January 2021, but the Bank of Canada still redeems them at full face value, at a financial institution or through the Bank, and has named no deadline.
Has Canada stopped making pennies?
Yes: the last penny was struck on 4 May 2012, and the Mint stopped distributing pennies on 4 February 2013. Pennies did not lose their legal tender status, but cash totals are now rounded to the nearest 5 cents, on the final total after tax. Card, cheque and online payments are not rounded.
What is the India link to the Canadian dollar?
The link is people. Canada has more than 1.8 million people of Indian origin, about 5 percent of its population at the 2021 Census, and a large number of Indian students. Counts of the students differ by source: the High Commission of India in Ottawa gives 3,92,810 on 31 December 2024, while the Ministry of External Affairs told Parliament in August 2024 that about 4.27 lakh Indians were studying in Canada.
Buying from India
2 questionsHow much Canadian currency can I take out of India?
Up to the equivalent of USD 3,000 per trip in currency notes. Anything above that goes on a forex card or as a bank transfer, all within the USD 250,000 a year Liberalised Remittance Scheme limit.
How do I get Canadian dollars for a trip to Canada?
Order them before you fly. Matrix Forex, an RBI-authorised Category-II dealer, has Canadian dollars on its booking form: send your amount through the booking bar at the top of this page and the desk confirms your exact rate before anything is booked. For the live rate on any amount, see the CAD to INR converter.