Canadian Dollar (CAD): Symbol, Abbreviation & Currency Code
The Canadian dollar abbreviation is CAD, and its symbol is the dollar sign ($), written as C$ or CA$ internationally. The full ISO 4217 code is CAD and the numeric code is 124. The Canadian dollar is the official currency of Canada, issued by the Bank of Canada, and is the world’s sixth most-traded currency.
The abbreviation for the Canadian dollar is CAD. CAD is the ISO 4217 alphabetic code; the numeric code is 124. The currency symbol is the dollar sign ($), written as C$, CA$ or Can$ in international contexts to set it apart from the US dollar and other dollar currencies.
One Canadian dollar divides into 100 cents. The full name is the Canadian dollar, nicknamed the “loonie” after the loon bird on the C$1 coin. It is managed by the Bank of Canada and has floated freely against other currencies since June 1970.
What is the symbol and abbreviation for the Canadian dollar?
Within Canada, the Canadian dollar is written simply as $ — a price of $50 in Toronto, Vancouver or Montreal means 50 Canadian dollars. In international and financial contexts, the prefix C$, CA$ or (less commonly) Can$ is used to distinguish the Canadian dollar from the US dollar (US$), Australian dollar (A$) and other dollar currencies. All three variants mean the same thing.
For banking, FX trades, SWIFT transfers and international invoicing, the three-letter ISO code CAD is the standard abbreviation — also called the currency’s short form or acronym. The numeric ISO code is 124. Canadian banknotes and coins display values in both English and French, the only G7 currency to do so.
How do you write Canadian dollars?
The most common conventions for writing a Canadian dollar amount in formal or international contexts are:
CAD 100
C$100
CA$100
$100 CAD
Can$100
For official invoices, contracts and cross-border payments, the format CAD 100.00 or C$100.00 is clearest because it removes any ambiguity with the US dollar. In everyday Canadian use, the plain dollar sign $100 is standard. Yes — the Canadian dollar uses the same dollar sign ($) as the US dollar, which is exactly why the C$, CA$ and CAD forms exist for international clarity.
Canadian Dollar — Quick Facts
| Currency name | Canadian Dollar |
|---|---|
| ISO 4217 code (abbreviation) | CAD |
| ISO numeric code | 124 |
| Symbol | $ (C$, CA$ or Can$ internationally) |
| Subunit | 100 cents (¢) |
| Issuing authority | Bank of Canada (Banque du Canada) |
| Banknote denominations | $5, $10, $20, $50, $100 |
| Coin denominations | 5¢, 10¢, 25¢, $1 (loonie), $2 (toonie) |
| Banknote material | Polymer (since 2011–2013) |
| Free float since | June 1970 |
| Most-traded pair | USD/CAD (the “loonie”) |
| Languages on notes | English and French (bilingual) |
A short history of the Canadian dollar
The Canadian dollar was introduced in 1858 when the Province of Canada decimalised its currency, replacing the Canadian pound at a rate of four dollars to one pound. The currency was unified across the new Dominion of Canada in 1871 and pegged variously to gold, the British pound and the US dollar through the early 20th century.
In June 1970, the Bank of Canada allowed the Canadian dollar to float freely against the US dollar — the first major currency to do so during the breakdown of the Bretton Woods fixed-exchange system. With brief exceptions, CAD has traded freely on world markets ever since, ranging from a low of around US$0.62 in 2002 to a high of approximately US$1.10 in November 2007.
Canada introduced polymer (plastic) banknotes between 2011 and 2013, replacing the previous cotton-paper notes across all denominations. The Canadian $1 coin, depicting the common loon, was introduced in 1987 and gives the currency its nickname, the “loonie”; the $2 coin, introduced in 1996, is known as the “toonie”.
Canadian bank holidays affecting CAD payments in 2026
CAD transfers do not settle on Canadian federal statutory holidays. The Bank of Canada and Canadian commercial banks observe the following federal holidays in 2026 — provincial holidays may add further non-settlement days depending on the bank’s registered province.
- New Year’s DayThursday 1 January 2026
- Good FridayFriday 3 April 2026
- Victoria DayMonday 18 May 2026
- Canada DayWednesday 1 July 2026
- Civic HolidayMonday 3 August 2026 (most provinces)
- Labour DayMonday 7 September 2026
- ThanksgivingMonday 12 October 2026
- Remembrance DayWednesday 11 November 2026
- Christmas DayFriday 25 December 2026
- Boxing DayMonday 28 December 2026 (in lieu)
For time-critical CAD transfers, allow at least one extra working day around these dates. Provincial holidays such as Family Day (Ontario, Alberta, BC) in February or Saint-Jean-Baptiste Day (Quebec) on 24 June may also affect settlement depending on the originating or receiving bank’s province.
Transferring CAD — what to know for larger payments
For private clients
Canadian property purchases (Toronto, Vancouver, Montreal), repatriation of pension and investment proceeds, gifting to Canada-based family and Canadian university fee payments are the most common reasons UK and international clients convert into or out of CAD with a specialist broker.
Above CAD 50,000, the rate margin matters: a 1% difference equals CAD 500. A forward contract lets you fix today’s rate for a transfer up to 12 months ahead.
For businesses
UK and EU businesses paying Canadian suppliers, settling Canadian payroll or receiving CAD revenue typically benefit from a dedicated specialist for amounts over CAD 25,000 per transfer or recurring monthly volumes.
Cambridge Currencies operates with FCA-authorised partners Currencycloud (FRN 900199) and ScioPay (FRN 927951). All transfers are completed by phone with a dedicated specialist.
Popular CAD currency pages
Live rates, historical charts and conversion tables for the most-traded Canadian dollar pairs.
Canadian Dollar (CAD) — Frequently Asked Questions
What is the abbreviation for the Canadian dollar?
The abbreviation for the Canadian dollar is CAD — its ISO 4217 code. Its short form symbols are C$, CA$ or Can$, used to distinguish it from the US dollar. The numeric ISO code is 124.
What is the symbol for the Canadian dollar?
The Canadian dollar symbol is the dollar sign ($). Internationally it is written as C$ or CA$ so it is not confused with the US dollar. The three-letter code CAD is used in banking and FX.
How do you write Canadian dollars?
Write Canadian dollars as CAD 100, C$100, CA$100 or $100 CAD. For invoices and cross-border payments, CAD 100.00 or C$100.00 is clearest. Within Canada, the plain dollar sign ($100) is standard.
What does C$ mean?
C$ means Canadian dollars. The “C” prefix marks the dollar amount as Canadian rather than US (US$), Australian (A$) or another dollar currency. CA$ and Can$ mean exactly the same thing.
Does the Canadian dollar use the dollar sign?
Yes. The Canadian dollar uses the standard dollar sign ($), the same symbol as the US dollar. Because of this overlap, the forms C$, CA$ and CAD are used in international contexts to make the currency clear.
What is the short form or acronym for the Canadian dollar?
The short form, acronym and ISO code for the Canadian dollar are all CAD. This three-letter code is the standard form used for bank transfers, foreign exchange and international invoicing.
What currency does Canada use?
Canada uses the Canadian dollar (CAD), issued by the Bank of Canada and divided into 100 cents. It is the world’s sixth most-traded currency.
How do I transfer a large amount of CAD?
For larger CAD transfers, a specialist currency broker typically offers tighter exchange rates than a high-street bank. Cambridge Currencies operates with FCA-authorised partners Currencycloud and ScioPay, and completes every transfer by phone with a dedicated specialist. You can request a CAD transfer quote or read how a forward contract can fix a rate ahead of time.
Authoritative sources used on this page
- Bank of Canada — banknotes, monetary policy, history: bankofcanada.ca
- ISO 4217 — currency codes standard: iso.org
- Bank for International Settlements — Triennial Survey of FX turnover: bis.org
- Government of Canada — statutory holidays: canada.ca