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The Canadian dollar (symbol: $; code: CAD; French: dollar canadien) is the currency of Canada. It is abbreviated with the dollar sign $. There is no standard disambiguating form, but the abbreviations Can$, CA$ and C$ are frequently used for distinction from other dollar-denominated currencies (though C$ remains ambiguous with the Nicaraguan córdoba).
The value of the dollar continued to be set by reference to the British sovereign and the American eagle, at the rate of 4.8666 Canadian dollars equal to £1, and ten Canadian dollars equal to the ten-dollar American eagle, the same rates as set in the 1853 Province of Canada legislation. [54] [56]
The US dollar is an official currency in Zimbabwe, along with the euro, sterling, the pula, the rand, and several other currencies. A series of Zimbabwean Bond Coins was put into circulation on 18 December 2014 in 1, 5, 10, and 25 cent denominations, and afterwards 50 cent and 1 dollar bonds coins, which are pegged at the same rate as American ...
The pair thus created is known as synthetic pair. A synthetic currency pair is created by trading two separate currency pairs in such a way as to effectively trade a third currency pair. Usually, USD is taken as intermediary currency to create any desirable synthetic cross currency pair. For example, the AUD / CAD pair can be traded by creating ...
There is a market convention that rules the notation used to communicate the fixed and variable currencies in a quotation. For example, in a conversion from EUR to AUD, EUR is the fixed currency, AUD is the variable currency and the exchange rate indicates how many Australian dollars would be paid or received for 1 euro.
The foreign exchange market (forex, FX (pronounced "fix"), or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.
A reserve currency is a foreign currency that is held in significant quantities by central banks or other monetary authorities as part of their foreign exchange reserves. The reserve currency can be used in international transactions, international investments and all aspects of the global economy. It is often considered a hard currency or safe ...
Three cases of a country using or pegging the currency of a neighbor. Currency substitution is the use of a foreign currency in parallel to or instead of a domestic currency. [1] Currency substitution can be full or partial. Full currency substitution can occur after a major economic crisis, such as in Ecuador, El Salvador, and Zimbabwe.