Thursday, March 23, 2017 2:23 AM
Currencies rates online for Australian Dollar (AUD) to Canadian Dollar (CAD).
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In order to convert currencies, please go to Canadian Dollar (CAD) to Australian Dollar (AUD).
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The Australian dollar (symbol: $; currency code: AUD) is the official currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, and several independent Pacific Island states. To distinguish between it and other dollar-denominated currencies, the Australian dollar sometimes appears as A$. One (1) Australian dollar is equal to one hundred (100) cents.
The Australian dollar is often referred to by traders as the “Aussie dollar”. It is the fifth most traded currency in the forex market, behind the U.S. dollar, the euro, the Japanese yen and the British pound. Its popularity in foreign exchange is largely due to the relative stability of the country’s economy and the relatively high interest rates in Australia.
The Australian dollar was preceded by the Australian pound, which was introduced in 1910 and differed in value from the pound sterling. The dollar was introduced on February 14, 1966.
The Canadian dollar (symbol: $; currency code: CAD) is the official currency of Canada. To distinguish between it and other dollar-denominated currencies, the Canadian dollar is sometimes abbreviated as C$. One (1) Canadian dollar is equal to one hundred (100) cents.
The Canadian dollar is widely referred to by Canadians as the “loonie”, a term which forex traders and analysts also employ. This is due to the image of a loon on the one-dollar coin. The Canadian dollar is the fifth largest reserve currency in the world, behind the U.S. dollar, the euro, the Japanese yen and the pound sterling, and the seventh most traded currency in the forex market.
The Canadian dollar was preceded by the Canadian pound, which was introduced in 1841. A widespread need to adopt a decimal monetary system based on the U.S. dollar due to the proximity of the two countries and the increasing trading activities between the two lasted for years, before the Canadian dollar was eventually introduced in 1858. The Canadian Parliament passed the Uniform Currency Act in April 1871 to replace the currencies of all provinces with a common Canadian dollar.