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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.〔There are various common abbreviations to distinguish the Canadian dollar from others: while the ISO currency code CAD (a three-character code without monetary symbols) is common, no single system is universally accepted. C$ is recommended by the Canadian government (although discouraged by ''The Canadian Style'' guide) and is used by the International Monetary Fund, while ''Editing Canadian English'' and ''The Canadian Style'' guide indicate Can$, with ''Editing Canadian English'' also indicating CDN$; both style guides note the ISO scheme/code. The abbreviation CA$ is also used such as in some software packages.〕 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==
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