Canadian Dollar (CAD)

The Canadian Dollar (CAD), often nicknamed the "Loonie" after the bird depicted on its one-dollar coin, is the official currency of Canada and the seventh most-traded currency in the global foreign exchange (FX) market, distinguished as a primary commodity currency due to Canada's vast natural resource exports, particularly crude oil. Its value is heavily influenced by global commodity prices, the monetary policy decisions of the Bank of Canada (BoC), and the economic health of its largest trading partner, the United States.