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The Canadian dollar, also known as the loonie, is the currency of Canada. It is abbreviated as CAD or C$ and is the 5th most traded currency in the world. It was first introduced in 1858 to replace the Canadian pound.

The value of the Canadian dollar is influenced by a variety of factors including the country's economic performance, global commodity prices, and interest rates. Oil and gas exports are particularly important to the Canadian economy, and changes in oil prices can have a significant impact on the value of the currency.

The Canadian dollar is also a safe-haven currency, meaning that it tends to strengthen during times of global economic uncertainty. It is widely accepted in international trade and is commonly used as a reserve currency by central banks around the world.

As of August 2021, the exchange rate for the Canadian dollar is approximately 1 CAD = 0.80 USD.