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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 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.
The purpose of this Act was to create a fund, derived from the profits of the Bank of Canada, which would enable the government and the Bank to "aid in the control and protection of the external value of the Canadian monetary unit", [93] i.e. to maintain the Canadian dollar at a certain rate against other currencies, if needed. However, the ...
The Bank of Canada has no target value for the Canadian dollar and has not intervened in foreign exchange markets since 1998. [35] The Bank's official position is that market conditions should determine the worth of the Canadian dollar, although it occasionally makes minor attempts to influence its value.
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 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 ...
The original plates, dies, and rolls for this series were destroyed by the Canadian Bank Note Company (CBN) after the modified version of the series was created in 1938. [20] The Canadian Bank Note Company printed the $1, $20, $50, $100, and $1000 banknotes, and the British American Bank Note Company printed the $2, $5, and $10 banknotes. [21]
Scenes of Canada is the fourth series of banknotes of the Canadian dollar issued by the Bank of Canada. It was first circulated in 1970 to succeed the 1954 Canadian Landscape series and was followed by the 1986 Birds of Canada banknote series .