The Canadian dollar (symbol: $; code: CAD; French: dollar canadien) is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes CA$, 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 its back, the dollar coin, and sometimes the unit of currency itself, are sometimes referred to as the loonie by English-speaking Canadians and foreign exchange traders and analysts.
A large part of this currency is contributed from the crude oil plants located in North America. Canadian Dollar enjoys its status because of its economy and stable geopolitical environment. These factors make it big when there occurs conflict in the middle-east. Apart from crude oil, many minerals and precious metals are exported from this country.
It is popular among foreign banks and traders due to Canada’s sound economic health and political stability. According to news reports, business in various regions of the United States are now accepting Canadian dollars mainly for business purposes.
This currency is also known as the loonie, the loonie being a bird that is imprinted on its coin. Singapore Dollar is not so rich in natural resources but still is a strong currency and plays a major role in the global economy. Among all the ASEAN (Association of Southeast Asian Nations), Singapore is the richest country.
