What is the currency of Canada? 

Ah, Canada — land of maple syrup, Mounties, moose, and… money. Whether you're planning a trip to sip flat whites in Vancouver or catch a hockey game in Montréal, there's one thing every savvy traveller needs to know before packing their bags: what is the currency of Canada? 

In this article, we’ll take you on a whirlwind tour of the currency in Canada, from the colourful notes and curiously nicknamed coins to the fascinating history behind the Canadian dollar. You’ll learn everything from denominations to the dos and don’ts of using US dollars across the border. By the end, you’ll be ready to grab your Canadian dollars with confidence — and maybe a Tim Hortons coffee to go. 

Currency in Canada 

Let’s cut straight to it: the currency in Canada is the Canadian dollar, known affectionately as the CAD. Its official symbol is $, but you’ll often see it written as C$ to avoid confusion with its southern neighbour, the US dollar. 

Each Canadian dollar is made up of 100 cents, and you’ll find both coins and banknotes in circulation — often adorned with famous Canadians, wildlife, and heritage landmarks. In true Canadian fashion, it’s colourful, practical, and quietly patriotic. 

As of 2026, the CAD remains one of the world’s most traded currencies, valued for its stability and Canada’s resource-rich economy. It’s also surprisingly beautiful — trust us, not all money looks this good. 

Canadian dollar denominations 

Canadian dollar banknote denominations 

Canadian banknotes are made from polymer (they’re waterproof and tear-resistant — genius), and they’re colour-coded for ease. 

Here’s what you’ll find in your wallet: 

• $5 – Blue, featuring Sir Wilfrid Laurier 

• $10 – Purple, featuring Viola Desmond or John A. Macdonald, depending on the series 

• $20 – Green, featuring Queen Elizabeth II (new designs expected post-monarchy) 

• $50 – Red, featuring William Lyon Mackenzie King 

• $100 – Brown, featuring Sir Robert Borden 

Each note includes tactile features to help the visually impaired and advanced anti-counterfeiting tech. 

Canadian dollar coin denominations 

Now onto the jinglier side of Canadian money — the coins. Canadians have a knack for nicknames, and their coins are no exception. 

• 5c – Nickel 

• 10c – Dime 

• 25c – Quarter 

• $1 – Loonie (named after the loon bird on the coin) 

• $2 – Toonie (a two-dollar coin — get it?) 

Canadian coins are durable and distinct, with wildlife and national symbols proudly on display. 

The history of Canada’s currency 

Canadian pound 

Once upon a time (specifically, before 1858), Canada used the Canadian pound, which followed the British sterling system. But managing multiple colonial currencies proved inefficient, especially for a country increasingly trading with the United States. 

Introduction of the Canadian dollar 

In 1858, the Canadian dollar was introduced, marking a shift to a decimal system. This made cross-border trade easier and aligned Canada more closely with the US monetary system. 

Initially pegged to the US dollar and later to gold, the CAD has evolved with the times. In 1935, the Bank of Canada was established and given the authority to issue banknotes — bringing consistency and economic control to the country. 

Since then, the Canadian dollar has floated freely on the foreign exchange market and remains a reliable currency backed by Canada’s strong banking system. 

Currency exchange in Canada 

Where to buy Canadian dollars 

Heading to the land of lakes and lumberjacks? You'll want to pick up some Canadian dollars before you go. Luckily, it’s never been easier. 

At Travelex, you can: 

• Order online and have your CAD delivered straight to your door. 

• Click & Collect from your nearest store. 

• Or, load it onto the Travelex Money Card — a secure way to spend like a local, minus the foreign transaction fees. 

Whether you're splurging at a ski resort in Banff or sampling poutine in Québec, you'll want CAD in your pocket. 

Are US dollars accepted in Canada? 

Short answer: sometimes. 

Some border towns, international airports, or big hotels may accept US dollars, but don’t count on it. Prices will usually be rounded, and you’ll likely get a poor exchange rate. 

Your best bet? Stick with Canadian dollars. You’ll get better value and avoid awkward conversations at the till. 

What countries use the Canadian dollar? 

Unlike the euro or US dollar, the Canadian dollar is used exclusively in Canada. However, it’s widely exchanged and one of the top currencies held in international reserves. 

Planning a North American road trip? You'll need CAD for Canada and USD for the US — so plan accordingly. 

Ready to buy some Canadian dollars?

You’ve read the guides, had the daydreams, planned the holiday and now you’re ready to buy some Canadian dollars.

Buy Canadian dollars online and get free home delivery on orders over £500 or choose to click & collect from any of the hundreds of convenient locations around the UK, including most major airports.

Get great rates and pay no commission when you buy online now. 

Travelex Money Card

The Travelex Money Card, powered by Mastercard, is the secure, easy way to spend abroad. You can load up to 22 currencies, including Canadian dollars, and it’s not linked to your bank, so your account stays safe while you spend abroad.  

You lock in your exchange rate before you travel, so you don’t have to worry about fluctuations. And it’s accepted at millions of locations around the world, wherever Mastercard prepaid is accepted. Get yours now.