CDN

CDN may stand for:

Places

Technology

Transportation

Media

Organizations

Canadian dollar

The Canadian dollar (symbol: $; code: CAD) is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes C$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.

Owing to the image of a loon on the one-dollar coin, the currency is sometimes referred to as the loonie by foreign exchange traders and analysts, as it is by Canadians in general, or huard in French.

Canada's dollar is the 5th most held reserve currency in the world, accounting for approximately 2% of all global reserves, behind only the U.S. dollar, the euro, the yen and the pound sterling. The Canadian dollar is popular with central banks because of Canada's relative economic soundness, the Canadian government's strong sovereign position, and the stability of the country's legal and political systems.

History

From the Canadian pound to the Canadian dollar

In 1841, the Province of Canada adopted a new system based on the Halifax rating. The new Canadian pound was equal to four US dollars (92.88 grains gold), making one pound sterling equal to 1 pound, 4 shillings, and 4 pence Canadian. Thus, the new Canadian pound was worth 16 shillings and 5.3 pence sterling.