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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.he Canadian dollar's value against the U.S. dollar rose sharply in 2007 because of the continued strength of the Canadian economy and the U.S. currency's weakness on world markets. During trading on September 20, 2007 it met the U.S. dollar at parity for the first time since November 25, 1976.
The abbreviations ster. or stg. are sometimes used. The term British pound is commonly used in less formal contexts, although it is not an official name of the currency. A common slang term is quid. Sterling is the third-largest reserve currency, after the US dollar and the euro.