Canadian Dollar

Canadian Dollar

The Canadian dollar (symbol: $; code: CAD; French: dollar canadien) is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes Can$ or C$ to distinguish it from other dollar-denominated currencies. 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. Accounting for approximately 2% of all global reserves, the Canadian dollar is the fifth most held reserve currency in the world, behind 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.

IMF Special Drawing Rights

IMF Special Drawing Rights

Special drawing rights (ISO 4217 currency code XDR, also abbreviated SDR) are supplementary foreign-exchange reserve assets defined and maintained by the International Monetary Fund (IMF). The XDR is the unit of account for the IMF, and is not a currency per se. XDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged. The XDR was created in 1969 to supplement a shortfall of preferred foreign-exchange reserve assets, namely gold and the U.S. dollar.XDRs are allocated to countries by the IMF. Private parties do not hold or use them. The amount of XDRs in existence was around XDR 21.4 billion in August 2009. During the global financial crisis of 2009, an additional XDR 182.6 billion were allocated to "provide liquidity to the global economic system and supplement member countries’ official reserves". By October 2014, the amount of XDRs in existence was XDR 204 billion.The value of the XDR is based on a basket of key international currencies reviewed by IMF every five years. The weights assigned to each currency in the XDR basket are adjusted to take into account their current prominence in terms of international trade and national foreign exchange reserves. In the review conducted in November 2015, the IMF decided that the Renminbi (Chinese yuan) would be added to the basket effective October 1, 2016. From that date, the XDR basket now consists of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Renminbi (Chinese yuan) 10.92%, Japanese yen 8.33%, British pound 8.09%.

1 Canadian Dollar to IMF Special Drawing Rights exchange rates chart

1 CAD to XDR exchange rates graph
1 CAD to XDR Spot rate – This is known more formally as the ‘interbank’ rate. It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. In the business, this is sometimes referred to as a ‘spot rate’. It is not the tourist rate and you cannot buy currency at this rate, as you are buying relatively small amounts of foreign currency. In everyday life it is the same as the difference between wholesale and retail prices. The rates shown in financial newspapers and in broadcast media are usually the interbank rates.

1 CAD to XDR exchange rates table

Exchange CAD to XDR
1 Canadian Dollar = 0.547 IMF Special Drawing Rights
2 Canadian Dollar = 1.093 IMF Special Drawing Rights
5 Canadian Dollar = 2.734 IMF Special Drawing Rights
10 Canadian Dollar = 5.467 IMF Special Drawing Rights
Exchange Canadian Dollar to IMF Special Drawing Rights
1 Canadian Dollar to IMF Special Drawing Rights Cross rate – This is the rate we give to customers who want to exchange currencies that do not involve the local currency. For example, if you want to exchange Australian dollars into US dollars.

1 CAD to XDR exchange rates news

Canadian dollar extends rebound from four-month low as oil prices rise

The Canadian dollar edged higher against its broadly weaker U.S. counterpart on Wednesday, extending its recovery from a nearly four-month low the day before as oil prices rebounded.

indicative negative
C$ steadies after hitting 4-month low on oil price slump

updates prices); Canadian dollar near flat against the greenback; Loonie touches its weakest since July 20 at 1.3264; Price of U.S. oil slumps 7.1.

indicative neutral
Gold Revaluation, Stronger Rupee Lift India’s Forex Reserves: Analysts
Gold Revaluation, Stronger Rupee Lift India’s Forex Reserves: Analysts

Revaluation of gold reserves and a stronger rupee lifted India’s foreign exchange (forex) reserves by over $1 billion in the week ended November 2, analysts

conditional neutral
After weeks of fall, forex kitty jumps by over USD 1 bn to USD 393.13 bn - Times of India

India Business News: Mumbai, Nov 9 () After multiple weeks of decline, the country's foreign exchange reserves swelled by USD 1.054 billion to USD 393.132 billion in the w

indicative neutral
RMB exchange rate reform market-oriented - USA - Chinadaily.com.cn

RMB exchange rate formation mechanism reform is a significant part of deepening reform. At the beginning of reform and opening-up China adopted unified exchange rate system. From 1981 to 1984 China adopted dual exchange rate system of official exchange rate and foreign exchange internal settlement price, and from 1985 to 1993 China adopted dual exchange rate of official exchange rate and foreign exchange swap price. The exchange rate system by that time was in accordance with China's opening-up and the market mechanism reform process at the same time.

indicative positive

1 CAD to XDR currency converter