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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.
(July 2012). In Canada, a penny is a coin worth one cent, or 1â100 of a dollar. According to the Royal Canadian Mint, the official national term of the coin is the one-cent piece, but in practice the terms penny and cent predominate. Originally, penny referred to a two-cent coin.roduction of the penny ceased in May 2012, and the Royal Canadian Mint ceased the distribution of them as of February 4, 2013. However, like all discontinued currency in the Canadian monetary system, the coin remains legal tender.