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Canadian Dollar
About The Canadian Dollar: The Fifth-Most Held Reserve Currency
Quick Facts About the Canadian Dollar Notes
| Country of Origin | Canada (CAN) |
| Symbol | $, CA$, Can$, C$ |
| Currency Code | CAD |
| Nick Names | The loonie |
| Minor units | Cent |
| Denominations (Banknotes) | 1, 2, 5, 10, 20, 50, 100, 200, 500 and 1000 CAD |
| Motto | A Mari Usque Ad Mare (from Sea to Sea) |
| Identification Feature | On the reverse of each bill is a picture of a Canadian bird set against a landscape that is meant to evoke the natural habitat of that bird. |
| Issuing Bank | Bank of Canada |
| In Circulation Since | March 11, 1935 |
| INR Exchange Rate | 60.9575 |
The Canadian dollar is the only money that can be used in Canada. It is commonly abbreviated using the dollar sign ($). The letter CAD is used to indicate the value of one Canadian dollar, which is also colloquially referred to as a "loonie." There are a total of 100 pennies in 1 CAD. Because of its widespread acceptance as a benchmark currency, many national central banks throughout the world keep Canadian dollars in their reserves along with their own currencies. This is due to the fact that the Canadian dollar is widely regarded as one of the most stable currencies in the world.
The live Canadian Dollar rate is INR (60.9575 ) . You can keep an eye on real-time Canadian dollar price.
History of the Canadian Dollar
The Canadian Dollar (CAD) is the country's legal tender; it was first introduced in 1858. In addition to the more common $, the Canadian dollar is also occasionally represented by CA$, Can$, and C$ to differentiate it from other dollar-denominated currencies.
In January 1858, the Canadian province announced that all financial transactions would be conducted in dollars and issued the first official Canadian Dollar. A gradual transition to the decimal system occurred over the subsequent years throughout the colonies that would eventually become a part of the Canadian Confederation.
In 1871, the federal government of Canada passed the Uniform Currency Act, which resulted in the creation of a single national currency known as the Canadian dollar. The value of the Canadian dollar has been allowed to freely fluctuate against that of other currencies ever since it was first authorised to do so in the year 1950.
The year 2012 saw the end of the production of Canadian pennies, and the year 2013 saw the distribution of the last last ones. In spite of this, the coin can still be used as legal tender. Because it is no longer in circulation, companies are required to round up payments made by customers in cash to the next five cents.
Countries Accepting the Canadian Dollar
After the US Dollar, the Euro, the British Pound, and the Japanese yen, the Canadian Dollar is the world's fifth most-held reserve currency.The Canadian Dollar is the sixth most traded currency in the world due to the country's extensive exports of raw materials and abundant natural resources. The Canadian Dollar is used as the official currency in Canada.
Amount in the Canadian Dollar You Should Carry for Your Trip
A few of the factors that go into determining the final cost of a vacation include the location of the excursion, the mode(s) of transportation taken to get there, the type of lodging reserved, and the amount of money spent while on vacation. A visitor in Canada might very well spend about CA$150 per person per day on a day's worth of activities and entertainment if they choose to do so. It is likely that you will need a daily budget that is greater than CA$500 per person per day in order to cover the costs connected with private transportation, gourmet eating, and staying in hotels with a rating of five stars or more. When going to Canada, the price of a vacation for two can easily exceed CA$1,200.
The cost of a night's stay in a hotel in Canada can range anywhere from CA$40 to CA$300 per person per day. Your daily transportation costs could run anywhere from CA$10 to CA$70 per day, depending on if you walk, take the bus, or hail a cab.
Keep a tab on the Canadian Dollar rate today for enjoying a cost-effective holiday.
Best Ways to Identify Counterfeit Canadian Dollar Notes
There are a few ways through which you can spot the counterfeit Canadian Dollar notes:
The raised ink on the real note should be palpable if you run your fingernail across it. Money that has no bumps or ridges on it is more likely to be fake. The words "BANQUE DU CANADA" and "BANK OF CANADA" are raised and printed in ink both above and below the translucent strip that is located on the right-hand side of the document.
A transparent strip on which the holographic strip is printed, has been added to a more recent series of Canadian banknotes.
Below the lettering that reads “CANADA” on the authentic note which is partially see-through, are a series of very little digits.
Process of Exchanging the Canadian Dollar
The process of converting the Canadian Dollar to Indian Rupee is immensely easy. Please note that the 1 Canadian Dollar to INR value is subject to change so keep an eye on the Canadian Dollar rate alert. Below, we have mentioned some of the popular ways to convert Canadian Dollars to Rupees.
Internationally-Accepted Card
A multi-currency forex card is counted among the most economical and safest way of carrying the Canadian Dollar.
The BookMyForex Multi-Currency card can be loaded in 14 currencies and features zero forex mark-up.
Online Forex Marketplace
The simplest and most cost-efficient way of converting your Canadian Dollar is using an online forex marketplace such as BookMyForex, a platform by MakeMyTrip, offering the best conversion rates and currency exchange service. The platform offers a 5-minute fully-digital online process for currency exchange.
Visiting Your Bank
The most traditional way of converting the Canadian Dollar to Rupee is by visiting a bank and standing in long queues. It is not only time-consuming but you also end up paying a high cost for making the Canadian Dollar convert to Indian Rupees.
Local Money Changers
You can look for an Authorised Dealer Category II or someone who has a money changers licence. Money exchangers offer competitive Canadian Dollar exchange rates, and you’d not need a bank account in this case. However, the process of rate haggling can be quite frustrating for those who are looking for an easy way to convert Canadian Dollar to INR.
On the other hand,BookMyForex, the online marketplace, offers internationally-accepted forex card and currency notes at the best rates via a convenient online process.
Airport
If you would like to convert the Canadian Dollar in India, one of the costliest ways to do so would be to get the Canadian Dollar exchanged at an airport due to the exorbitantly high CAD exchange rates. Currency exchange at the airport will prove to be 5%-15% costlier than BookMyForex.
Exchange the Canadian Dollar with BookMyForex
BookMyForex, the online forex marketplace by MakeMyTrip, makes it a hassle-free affair for you to convert the CAD to Indian Rupees as well as Indian Rupee to Canadian Dollar. Please note that the 1 Canadian Dollar to INR value is subject to change so keep an eye on the Canadian Dollar rate alert. You should choose MakeMyTrip for currency exchange for the following reasons:
Wide Range of Products
Forex (Currency Notes) - Available in 100+ cities across India, BookMyForex allows you to get your currency notes delivered on the same day or the next day after 100% digital booking.
BookMyForex Multi-Currency Card - You can load this card in 14 currencies with 0% Forex Mark-up. Once you have booked this card, you can receive it the same day (if booking is made before 1 PM) or the next.
International Travel Insurance - MakeMyTrip also offers international travel insurance at cheapest rates in the market. Also, you can opt for this product if you’d like MMT to handle your mandatory travel insurance requirements along with a VISA application.
Travel Loan - With TripMoney, you can avail a travel loan of up to INR 1,00,000 (lifetime limit) for all your travel and holiday needs.
Best Exchange Rates
BookMyForex makes it easy for you to buy Canadian Dollar or sell Canadian Dollar at live and best exchange rates.
Quick Money Transfer
You can also enjoy quick international money transfers on BookMyForex. The 5-minute digital process offers the best forex rates, and you can receive funds abroad within 12 to 48 hours.
Home Delivery
BookMyForex delivers the Canadian Dollars at your doorstep. So, you can simply order and receive your currency from the comfort of your home.
Best Rates to Exchange the Canadian Dollar
You’d need to keep an eye on the current currency rates, if you’d like to know the exact value you’d get on converting 1 Canadian Dollar in Rupees. The exchange rates keep on fluctuating. BookMyForex, an online forex marketplace by MakeMyTrip, keeps you updated with the live currency exchange rates. You can keep up with the changing value of 1 Canadian Dollar in India in real-time on the platform and get the best deal. Currently, 1 CAD is equivalent to 60.9575 INR .
Best Ways to Carry the Canadian Dollar
BookMyForex allows you to convert INR to the Canadian Dollar at the best exchange rates so that you can carry the Canadian Dollars without any hassle. Some of the best ways to carry the Canadian Dollar are mentioned below:
Currency Notes
You can buy the US Dollar notes at live and best exchange rates on BookMyForex so that you can be ready for your trip with sufficient cash in your hand.
BookMyForex Multi-Currency Card - 0% Forex Mark-Up
The Multi-Currency Forex Travel Card available on MakeMyTrip with BookMyForex as the co-branding partner comes with 0% forex mark-up over interbank rates.
How to Buy the Canadian Dollar at Best Rates - Currency Notes and Cards
Whether you want to buy forex cards and currency notes or sell the Canadian Dollar, MakeMyTrip makes the entire process quite easy. It doesn’t matter whether you want to convert the Canadian Dollar to USD or INR to Canadian Dollar, you only need to follow the below-written steps:
- STEP 01
Select your city from the drop-down list.
- STEP 02
Choose the currency you have and the currency you want.
- STEP 03
Opt for a forex card or currency notes from the list.
- STEP 04
Mention the forex amount. The live currency exchange rate will show up next to it.
- STEP 05
The converted currency amount according to the exchange rate will show up automatically.
- STEP 06
Then proceed with booking your order.
Documents Required to Buy or Sell the Canadian Dollar
Here are some important documents mandated by the RBI that you must submit in order to buy or sell the Canadian Dollar in India.
Copies of your valid Indian passport
PAN Card
Confirmed air ticket indicating your plan to travel within 60 days
Valid visa (it may not be required for every country)
Different Purposes for Exchanging the Canadian Dollar
Private Travel: You can avail of up to CAD 10,000 for a private trip to the Canada.
Studying Abroad: You can purchase foreign exchange of up to CAD 30,000 or up to the estimate shared by your educational institute.
Employment Purpose: In case you have a letter of employment, you can buy foreign exchange of up to CAD 5,000.
Emigration: If you have an emigration visa, you can buy foreign exchange for up to CAD 5,000.
Gift and Donation: You can gift or donate up to CAD 5,000 annually on the basis of self-certification
Medical Treatment: On the basis of self-certification, you can buy foreign exchange of up to CAD 50,000 for medical treatments outside of India. Once the limit is surpassed, you have to provide the estimated expense that would be incurred at the hospital.
Buy and Sell the Canadian Dollar Online at Best Exchange Rates
With BookMyForex, the online forex marketplace by MakeMyTrip, you can easily convert your currency. Enjoy unbeatable currency exchange rates and opt for BookMyForex Multi-Currency Cards as well as foreign currency notes. with no forex mark-up. MakeMyTrip also present the real-time value of one Canadian Dollar in Indian Rupees so that you can stay updated with the ever-changing Canadian Dollar value when converting your money to other currencies.
Home Delivery of the Canadian Dollar
In addition to a smooth online process, BookMyForex also delivers the Canadian Dollars right at your doorstep. In fact, you can enjoy same-day door delivery. So, you do not have to waste any time visiting a local money exchanger and picking up your money.
Other currencies to INR Conversion
- USD to INR
- EUR to INR
- AED to INR
- THB to INR
- SGD to INR
- KWD to INR
- CHF to INR
- HKD to INR
- SAR to INR
- CAD to INR
- ZAR to INR
- AUD to INR
- JPY to INR
- GBP to INR
- NZD to INR
- MYR to INR
- VND to INR
- BHD to INR
- IDR to INR
- KRW to INR
- NOK to INR
- DKK to INR
- RUB to INR
- LKR to INR
- PHP to INR
- MUR to INR
- BDT to INR
- PLN to INR
Frequently Asked Questions
How do i get cashback after placing my forex order?
Findout more about the cashback offer for your Canadian Dollar (CAD) purchase by clicking here.
How much time will it take for CAD to be delivered to home?
Currency exchanges made through BookMyForex currency notes and cards can get delivered within a day.
How much CAD can I carry to Canada as a student?
In case a traveller/student is carrying an amount exceeding 10,000 CAD, they may have to provide a valid declaration by using CBSA Declaration Card.
What is the Canadian Dollar to Rupee rate?
The Canadian Dollar rate today is INR (60.9575 ). You can easily convert your currency with BookMyForex, a MakeMyTrip group company, at the best Canadian Dollar rate.
What will happen to the leftover Canadian Dollar currency when I return from my trip?
You can easily exchange any leftover currency notes or the money left in your Forex card with MakeMyTrip, powered by BookMyForex, once you have returned from your trip.
Can I invest in the Canadian Dollar?
Yes, you can invest in the Canadian Dollar via mutual funds, ETFs, or ETNs. However, you should keep an eye on market fluctuation and geopolitical concerns.
Will I receive authentic Canadian Dollar notes?
Yes. MakeMyTrip offers genuine notes from RBI-licensed companies only.
Is it legally allowed to hold Canadian Dollar in India?
While it is acceptable to hold the Canadian Dollar up to the amount authorised by RBI, you cannot use this currency for any kind of transaction in India.
What if I run out of the Canadian Dollar currency while travelling?
If you are carrying a MakeMyTrip multi-currency Forex card while travelling, then you can easily load it up and receive the money abroad within 48 hours.
How many cents are there in 1 Canadian Dollar?
1 Canadian Dollar can be divided into 100 cents.
Tell me about the security features of a Canadian Dollar note.
Some of the key security features that can be found on a Canadian Dollar include metallic images and symbols and three maple leaves. The $20, $50, and $100 notes also boast of watermark security.
Which banknotes and coins are under frequent usage in Canada?
Some of the most frequently used banknotes in Canada are $5, $10, $20, $50 and $100. On the other hand, when it comes to the coins, the most commonly used denominations are 5¢, 10¢, 25¢, $1 and $2.
Does Canada have commemorative coins?
The Royal Canadian Mint has issued several commemorative coins to celebrate certain personalities, events and anniversaries. In 2024, a series of commemorative silver coins has been issued. Other popular commemorative coins issued in Canada are the Voyageur dollar, Loonie and the Centennial series.
Is it allowed to use Canadian Dollars in other countries?
While Canada is the only official user of the Canadian Dollar, St. Pierre and Miquelon is the unofficial user of this currency. Other than that, you should exchange your currency before visiting another nation.