Canadian Dollar

Canadian Dollar Meaning:
In foreign exchange terminology, the Canadian Dollar refers to the currency of the country of Canada and is often nicknamed the Loonie. The currency has the ISO 4217 code CAD, and it is most commonly-traded in the forex market as the counter-currency against the U.S. Dollar as the pair USD/CAD.

The Canadian Dollar ranks among the world’s most highly-traded currencies and is the only currency that trades for spot value one business day against the U.S. Dollar. Also, its valuation is often affected by price changes in the commodities it exports, such as oil and gold.