![CAD postion negative correlation](/images/currencies/caption.png)
![CAD currency diagram](/upload/server/currencies/diagrams/CAD.jpg?v=1712523600000)
CAD ($)
Canadian dollars
![CAD gauge currency diagram](/upload/server/currencies/gauges/CAD.jpg?v=1712523600000)
Current regime
Trading the CAD between market participants and across borders is unrestricted and the market price is primarily determined without central bank intervention.
Highly standardised payment processing.
History
The Canadian dollar was introduced in 1858 and replaced the Canadian pound.
The value of the Canadian dollar was fixed at USD 0.9091 on 20 September 1949.
Despite being a member of the IMF, the Canadian dollar was decoupled from the USD and allowed to float from 2 October 1950 to 1962. After initially appreciating rapidly, the Canadian dollar stabilised and maintained a slight premium over the U.S. dollar until economic conditions caused a rapid devaluation from 1960 and led to the exchange rate again being pegged to the USD from 2 May 1962 at USD 0.925, where it remained until it was again allowed to float from the 1 June 1970.
The managed float regime was abandoned in September 1998 in favour of a free float exchange rate regime. Canada’s current policy is to intervene in foreign exchange markets only in the most exceptional of circumstances.
The Canadian dollar accounted for 5.0% of global FX turnover in April 2019.
![CAD gauge currency diagram](/upload/server/currencies/charts/CAD.jpg?v=1712523600000)