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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.
The Bank of Canada was created in 1934 and given responsibility, through an Act of Parliament, to regulate the country's money supply and to "promote the economic and financial welfare of Canada." Accordingly, it was given the exclusive right to issue bank notes in Canada. On 11 March 1935, the Bank of Canada issued its first series of bank notes.
This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.
The Bank of Canada (BoC; French: Banque du Canada) is a Crown corporation and Canada's central bank. [4] Chartered in 1934 under the Bank of Canada Act , it is responsible for formulating Canada's monetary policy, [ 5 ] and for the promotion of a safe and sound financial system within Canada. [ 6 ]
The 1935 Canadian banknote series is the first series of banknotes of the Canadian dollar issued by the Bank of Canada. They were first circulated on 11 March 1935, the same day that the Bank of Canada officially started operating. Two sets of banknotes were printed for each denomination, one in French for Quebec, and one in English for the ...
Canada and Newfoundland were already linked to the US dollar and did not join the sterling bloc. [3] The Bank of England in London guided co-ordination of monetary policy in the currency area. Member countries with their own currency held a large portion of their foreign currency reserves as sterling balances in London.
Canada's economy grew at an annualized rate of 1% in the third quarter, undershooting the Bank of Canada's forecast of 1.5%, after growing 2.2% in the prior quarter.
A History of the Canadian dollar. Bank of Canada. ISBN 0662281233. Swanson, Frank (5 February 1949). "Two-dollar notes bust out all over". The Ottawa Evening Citizen. Vol. 106, no. 188. The Art and Design of Canadian Bank Notes (PDF). Bank of Canada. 6 December 2006. ISBN 0660632462 "1937 Series". Bank Note Series, 1935 to present.