The Canadian dollar is the legal tender of Canada. It is denoted by symbol $ or C$ and the international code of the currency is CAD. As of 2011, the Canadian dollar was world\u2019s seventh most traded currency. A Canadian dollar is divisible into 100 cents.<\/p>\n
History of Canadian Dollar<\/p>\n
From the Canadian Pound to Canadian Dollar<\/p>\n
In 1841, the\u00a0Province of Canada\u00a0implemented a new monetary system based on the\u00a0Halifax rating. According to this system, a new\u00a0Canadian pound\u00a0was equivalent to four\u00a0US dollars\u00a0(92.88\u00a0grains\u00a0gold), making one\u00a0pound sterling\u00a0equivalent to 1 pound, 4 shillings, and 4 pence Canadian. Consequently, the new Canadian pound\u00a0was worth 16 shillings and 5.3 pence.<\/p>\n
The period of 1850s was a decade of dilemma for Canada as it could not decide whether it should adopt a\u00a0sterling\u00a0monetary system or a decimal monetary system based on the US dollar. The local populace, for reasons of practicality in relation to the ever growing trade with the neighboring United States, wanted to associate closely the Canadian currency with the American unit, however the colonial authorities in London still favored the idea of sterling remaining as the sole currency throughout the\u00a0British Empire.<\/p>\n
In 1851, the\u00a0Legislative Council and the Legislative Assembly\u00a0of Canada passed an act for the purposes of introducing a\u00a0pound sterling\u00a0unit together with a system of decimal fractional coinage. The rationale was that the decimal coins would correspond to exact amounts relative to the US dollar fractional coinage.<\/p>\n
Finding the middle ground, in 1853 an act of the Legislative Council and Assembly of Canada introduced the\u00a0gold standard\u00a0into Canada which was based on both the British\u00a0gold sovereign\u00a0and the\u00a0American gold eagle coins. This gold standard was implemented with the gold sovereign being legal tender at \u00a31 = $US4.86\u00a02<\/sup>\u20443<\/sub>. No coinage was introduced under the 1853 act. Sterling coinage was accepted as the legal tender even as all other silver coins were demonetized. The British government in theory permitted for a decimal coinage; however, they also hoped that a sterling unit would be selected under the name of ‘royal’. In 1857, though, the decision was made to launch a decimal coinage into Canada in conjunction with the US dollar unit. Therefore, when the new decimal coins were made public in 1858, Canada’s currency became associated with the US currency, even though the British\u00a0gold sovereign\u00a0continued to exist as a legal tender at the rate of \u00a31 =\u00a04.86\u00a02<\/sup>\u20443<\/sub>\u00a0right up until the 1990s. Later in 1859, Canadian postage stamps were introduced with decimal denominations for the first time.<\/p>\n In 1861,\u00a0New Brunswick\u00a0and\u00a0Nova Scotia\u00a0also decided to adopt a decimal system based on the US dollar unit. In the subsequent year, Canadian postage stamps were circulating with the denominations shown in dollars and cents.<\/p>\n Newfoundland\u00a0followed the decimal system in 1865, but unlike in the cases of Canada, New Brunswick, and Nova Scotia, it adopted a unit based on the\u00a0Spanish dollar\u00a0more willingly than the US dollar, and there was a small variation between these two units. The US dollar was formed in 1792 under a system of the average weight of a selection of worn Spanish dollars. As a result, the Spanish dollar was worth slightly more than the US dollar, and similarly, the\u00a0Newfoundland dollar\u00a0while it existed, was worth slightly more than the Canadian dollar.<\/p>\n In 1867, Canada, New Brunswick, and Nova Scotia formed a federation called the\u00a0Dominion of Canada\u00a0and the three currencies were united.<\/p>\n In 1871,\u00a0Prince Edward Island decided to implement the decimal system within the US dollar unit and introduced coins for 1\u00a2. However, the currency of Prince Edward Island was absorbed into the Canadian system soon afterwards, when Prince Edward Island merged with the Dominion of Canada.<\/p>\n Also in 1971, the federal Parliament passed the Uniform Currency Act; and, accordingly all the currencies of different provinces were replaced by a common Canadian dollar. The\u00a0gold standard\u00a0was for the time being abandoned during the\u00a0First World War\u00a0and completely abolished on April 10, 1933. At the start of the\u00a0Second World War, the exchange rate relative to the US dollar was fixed at C$1.10 = US$1.00.<\/p>\n This exchange rate was changed to parity in 1946. In 1949, sterling was devalued and so was the Canadian dollar. Subsequently the Canadian dollar was pegged to USD (C$1.10 = US$1.00). Nevertheless, it changed the exchange rate mechanism in 1950 and decided to float its currency, then in 1962 it returned to fixed exchange rate regime. This time a Canadian dollar was pegged at US$0.925. This peg continued until 1970, after which the currency’s value has floated to date.<\/p>\n <\/p>\n Terminology<\/p>\n Just like the American English, Canadian English also uses the slang term “buck” for a dollar. The Canadian expression for dollar originates from a coin which was struck by the\u00a0Hudson’s Bay Company\u00a0during the 17th century with a value equal to the\u00a0pelt\u00a0of a male\u00a0beaver\u00a0\u2013 a “buck”.<\/p>\n Since there is an image of a loon\u00a0on the reverse of the dollar coin that replaced the dollar bill in 1987, the word “loonie” was used in Canadian parlance to distinguish the Canadian dollar coin from the dollar bill.<\/p>\n In 1996, when the two-dollar coin was introduced, the derivative word “toonie” (“two loonies”) was widely used in Canadian slang. The term “loonie” is commonly used for the Canadian dollar as a currency, as opposed to the American dollar.<\/p>\n In\u00a0French, the currency is also known as le dollar<\/em>;\u00a0Canadian French\u00a0slang terms include\u00a0piaster<\/em> or\u00a0piasse<\/em>\u00a0(the original word used in 18th-century French to translate “dollar”) and\u00a0huard <\/em>(the same as “loonie”, since\u00a0huard<\/em>\u00a0is French for “loon,” the bird appearing on the coin).<\/p>\n The French pronunciation of “cent”\u00a0is usually used for the subdivision;\u00a0sou<\/em>\u00a0is another, informal, term for 1\u00a2.\u00a025\u00a2 coins in Quebec French are often termed trente sous<\/em>\u00a0(thirty cents) because of a series of changes in terminology, currencies, and exchange rates.<\/p>\n Following the British conquest of\u00a0Canada\u00a0in 1759, French coins slowly went out of circulation, and sou<\/em>\u00a0turned into\u00a0 a nickname for the\u00a0halfpenny, which was comparable in value to the\u00a0French\u00a0sou<\/em>. Spanish dollars and US dollars were also under circulation, and from 1841 to 1858, the exchange rate was set at $4 = \u00a31 (or 400\u00a2 = 240d). This made 25\u00a2 equivalent to 15d, or 30 halfpence (trente sous<\/em>). Since the adoption of decimalization and the withdrawal of halfpence coins, the nickname\u00a0sou <\/em>began to be used for the\u00a01\u00a2 coin, but the idiom\u00a0trente sous<\/em>\u00a0for 25\u00a2 continued.<\/p>\n Coins<\/p>\n Coins are minted by the\u00a0Royal Canadian Mint\u00a0in\u00a0Winnipeg,\u00a0Manitoba, and at present issued in denominations of 5\u00a2 (nickel), 10\u00a2 (dime), 25\u00a2 (quarter), 50\u00a2 (50\u00a2 piece) (but the 50\u00a2 piece is hardly used in most provinces), $1 (loonie), and $2 (toonie). The last 1\u00a2 (penny) to be minted in Canada was struck on Friday, May 4 2012.<\/p>\n The designs and symbols used on these coins center around wildlife, on the reverse, and an effigy of\u00a0Elizabeth II\u00a0on the\u00a0obverse. However, some pennies, nickels, and dimes remain in circulation that depicts the image of\u00a0George VI. Commemorative coins with different images are also issued on an infrequently.\u00a0 50\u00a2 coins are hardly seen in circulation; they are often collected and not frequently used in everyday transactions in majority of the provinces.<\/p>\n History<\/strong><\/p>\n In 1858, the Province of Canada issued bronze 1\u00a2 and 0.925 silver 5\u00a2, 10\u00a2 and 20\u00a2 coins. With the exception of f 1\u00a2 coins which were struck in 1859, no more coins were issued until 1870, when production of the 5\u00a2 and 10\u00a2 was recommenced and silver 25\u00a2 and 50\u00a2 were introduced. In the period between 1908 and 1919,\u00a0sovereigns (legal tender in Canada for $4.86\u00a02<\/sup>\u20443<\/sub>) were minted in Ottawa with a “C” mintmark. Gold $5 and $10 coins were also issued between 1912 and 1914.<\/p>\n In 1920, the size of the 1\u00a2 was made smaller and the silver fineness of the 5\u00a2, 10\u00a2, 25\u00a2 and 50\u00a2 coins was lowered, with new composition of 0.800 silver and .200 copper. However, the composition was maintained for the 10\u00a2, 25\u00a2 and 50\u00a2 piece until 1966. In 1922, due to the debasement of the 5\u00a2 piece the silver 5\u00a2 was completely replaced by a larger nickel coin. In 1942, as an contingency measure during the wartime, nickel was replaced by\u00a0tombac\u00a0in the 5\u00a2 coin; its shape also changed from round to dodecagonal. 5\u00a2 were made out of chromium-plated steel n 1944 and 1945 and between 1951 and 1954, after which nickel was once again used for making these denominations. Then in 1963, 5\u00a2 returned to a round shape.<\/p>\n In 1967,10\u00a2 and 25\u00a2 coins having the composition of\u00a0 0.800 silver\/0.200 copper and,\u00a0 0.500 silver\/.500 copper respectively were issued. 1968 saw further alterations in metal compositions: the 0.500 fine silver dimes and quarters were entirely replaced by nickel ones mid-year. All 1968 50\u00a2 and $1 coins were had their sizes shrunk and were made only in pure nickel. As a result, 1968 marked the last year in which any circulating silver coinage was issued in Canada.<\/p>\n In 1935, the 0.800 silver\u00a0Voyageur dollar\u00a0was launched.\u00a0 Its Production continued until 1967 with the exception of the war years between 1939 and 1945.<\/p>\n In 1982, the 1\u00a2 coin\u2019s shape was altered to dodecagonal and the 5\u00a2 metal composition was changed (to a cupro-nickel alloy). In 1987, a $1 coin minted in aureate-plated nickel was introduced. A\u00a0bimetallic\u00a0$2 coin was later issued in 1996. In 1997, copper-plated zinc was used, replacing bronze in the 1\u00a2.\u00a0 In 2000, this coin was further debased as even\u00a0 cheaper plated-steel was introduced for producing 1\u00a2, 5\u00a2, 10\u00a2, 25\u00a2 and 50\u00a2 coins, with the 1\u00a2 plated in copper and the others plated in cupro-nickel.\u00a0 In 2012, the multi-ply plated-steel technology was also used for denominations such as $1 and $2 coins as well.<\/p>\n Banknotes<\/p>\n Between 1813 and 1815,<\/em> paper money was issued in Canada for the first time. The currency was denominated in dollars were British Army bills. Later in 1930s, Canadian dollar bank notes were issued by the\u00a0chartered banks along with several pre-confederation\u00a0colonial governments (most notably the\u00a0Province of Canada in 1866. Then in 1870 when the confederation was formed, the\u00a0Dominion of Canada started issuing the paper currency. During 1930s, some municipalities also issued notes, most notably\u00a0depression\u00a0scrip<\/em>.<\/p>\n In 1935, with just 10 chartered banks still issuing notes, the Bank of Canada was established. The bank took over the federal issuance of notes from the Dominion of Canada. It started issuing notes in denominations of $1, $2, $5, $10, $20, $25, $50, $100, $500 and $1000. In 1944, the chartered banks were abandoned from issuing their own currency, while the\u00a0Royal Bank of Canada\u00a0and the Bank of Montreal were last to issue notes.<\/p>\n Since 1935, the designs over notes have significantly varied. New series of notes were issued in 1937, 1954, 1970, 1986, and 2001. In June 2011, newly designed notes printed on a\u00a0polymer\u00a0substrate, instead of cotton fibre, were announced;\u00a0 subsequently in November 2011, the first of these polymer notes- $100 bill began to circulate in the financial system, this was followed by $50 bill began and additional denominations are expected to circulate\u00a0 before 2013.<\/p>\n At present, all banknotes are printed by the\u00a0Canadian Bank Note Company\u00a0and BA International Inc, under contract to the\u00a0Bank of Canada.<\/p>\n Legal tender<\/p>\n Canadian dollar banknotes issued by the Bank of Canada are\u00a0legal tender\u00a0in Canada. The commercial transactions, though may be legally settled in any manner (US dollar, euro etc) agreed by the parties involved.<\/p>\n Legal tender of Canadian coinage is governed by the\u00a0Currency Act, which sets out limits of:<\/p>\n Retailers in Canada may deny accepting bank notes without breaking the law. According to legal guidelines, the manner of payment has to be mutually decided upon by the parties involved with the transactions. For instance, stores may decline $100 bank notes if they consider that would put them at risk of being\u00a0counterfeit\u00a0victims; nevertheless, official policy says that the retailers should assess the impact of that approach. In a case where no mutually acceptable form of payment can be agreed upon for the tender, the parties involved in the transaction should seek legal advice.<\/p>\n Just as US dollars are accepted by some Canadian businesses, Canadian dollars, particularly coins, are also accepted by some businesses in the northernmost cities of the United State in addition to many Canadian\u00a0snowbird enclaves.<\/p>\n In 2012, the Mid-Atlantic state of\u00a0Iceland started to think about adopting the Canadian dollar as a stable alternative to the\u00a0Icelandic krona.<\/p>\n Value<\/p>\n While other currencies adopting Bretton Woods system had their currencies fixed, the Canadian dollar was allowed to\u00a0float\u00a0from 1950 to 1962. During the period of 9952 – 1960, the Canadian dollar traded at a slight premium over the US dollar,touching a high of US$1.0614 on August 20, 1957.<\/p>\n After 1960, the Canadian dollar significantly devalued, and this resulted in Prime Minister\u00a0John Diefenbaker’s defeat in the\u00a01963 election. After the sharply losing its value, the Canadian dollar returned to a\u00a0fixed exchange rate regime in 1962 when its value was fixed at US$0.925. This exchange rate relative to USD continued until 1970.<\/p>\n Then in 1970, amid rising inflation, the Canadian dollar was allowed to float. Its value increased and it was worth more than the US dollar for most part of the 1970s. The Canadian dollar touched its peak on April 25, 1974, when it reached US$1.0443.<\/p>\n During the technology\/ dotcom boom of mid and late 1990\u2019s, The Canadian dollar fell in value against its American counterpart. Canadian dollar traded as low as $0.6179\u00a2 to a US on 21 January 2002, which was also an all-time low. However, in the first decade of 2000, a period when demand for commodities shoot up, – the Canadian dollar backed by strong commodity exports gained against all major currencies of the world.<\/p>\n The CAD’s value relative to the US dollar climbed up sharply in 2007 because of the continued strength of the Canadian economy and the US currency’s weakness on world markets. During trading on September 20, 2007 Canadian dollar traded at parity with the US dollar since November 25, 1976.<\/p>\n While the Inflation\u00a0in the value of the Canadian dollar was significantly low since the 1990s, decades before that saw some severe devaluation. In 2007 the Canadian dollar gained sharply, soaring 23% in value.<\/p>\n On September 28, 2007, the Canadian dollar traded above the US dollar for the first time in 30 years, at US$1.0052.<\/p>\n Then on November 7, 2007, it traded even higher at US$1.1024, a modern-day highafter China hinted that it would diversify its US$1.43 trillion foreign exchange reserve away from the US dollar. (The Canadian dollar has been as high as US$2.78, reached on 11 July 1864 following the United States decision to temporarily abandon the\u00a0gold standard.) By November 30, though, the Canadian dollar\u00a0 returned to par with the US dollar, and on December 4, the dollar again dropped to US$0.98, as Bank of Canada decided to cut the interest rates aimed at boosting dollar, weighing on its exchange rate.<\/p>\n In 2007, owing to its soaring value and hitting new record highs, the Canadian dollar was named the\u00a0Canadian Newsmaker of the Year\u00a0for 2007 by the Canadian edition of\u00a0Time<\/em>\u00a0magazine.<\/p>\n As Canada exports\u00a0 82.4% of the total export to the U.S and imports\u00a0 56.7% of total imports, \u00a0Canadians are mainly interested in the value of their currency against the US dollar. Although there are perils for economy when the dollar trades much lower than its US counterpart, concerns are also widespread among exporters when the dollar appreciates quickly. The rapid appreciation in the value of the dollar raises the price of Canadian exports to the US. On the other hand, there are benefits from a rising dollar, as imports of materials and services from international markets especially, the U.S. become cheaper.<\/p>\n The fluctuation in the dollar vis-\u00e0-vis USD has led to a change in the pricing strategy in the book and book publishing industry, where buyers have been familiar to fixed prices on the backs of their books: one for the Canadian market while another one for the American market.<\/p>\n The Bank of Canada has no definite target value for the Canadian dollar. The central bank follows the policy of non intervention in the foreign exchange market since 1998; that is, it lets the forces of demand and supply decide the price of the dollar, although the BoC occasionally makes minor attempts to influence its value (by buying or selling dollars).<\/p>\n On global currency markets, the Canadian dollar traditionally tended to move in tandem with the US dollar.<\/p>\n While rising Canadian dollar (against the US dollar) was dropping against other major international currencies previously, since 2002 it has gained against basket of major international currencies, including the US dollar.<\/p>\n In recent years, amid increased fluctuations in the value of the Canadian dollar, the dollar has tended to track the prices of crude oil, underpinning the dollar’s status as a\u00a0petrocurrency owing to Canada’s significant oil exports.<\/p>\n Reserve currency<\/strong><\/p>\n A quite a few numbers of central banks and commercial banks hold Canadian dollars as a\u00a0reserve currency. The Canadian dollar is considered to be a benchmark currency, since the Canadian economy is very stable with sound banking system.<\/p>\n In the economy of the Americas, the Canadian dollar plays a significant role akin to the\u00a0Australian dollar (AUD) does in the\u00a0Asia-Pacific\u00a0region. The Canadian dollar being the regional reserve currency for banks has been an important part of the British, French and Dutch Caribbean state’s economies and finance systems since the 1950s. The Canadian dollar is held as reserves by many central banks in Central America and South America as well. The holding of the Canadian dollar in Latin America is done so because of each nation’s nationally important issues of remittances and international trade.<\/p>\n By examining how the Canadian dollar move against the US dollar, foreign exchange economists can indirectly study internal behaviors and patterns in the US economy that could not be discerned\u00a0 by direct observation. The Canadian dollar has completely evolved into a global reserve currency only since the 1970s, when the BoC decided to float the dollar against all other world currencies. Some economists have credited the rise of importance of the Canadian dollar to the long term effects of the\u00a0Nixon Shock\u00a0that effectively put an end on the\u00a0Bretton Woods system\u00a0of global finance.<\/p>\n <\/p>\n Most traded currencies by value<\/p>\n <\/strong><\/p>\n <\/p>\n (Triennial Central Bank Survey<\/em>, Basel,\u00a0Switzerland:\u00a0Bank for International Settlements)<\/p>\n <\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" The Canadian dollar is the legal tender of Canada. It is denoted by symbol $ or C$ and the international […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[156],"tags":[99],"class_list":["post-515","post","type-post","status-publish","format-standard","hentry","category-currency","tag-forex"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/learn\/wp-json\/wp\/v2\/posts\/515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/learn\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/learn\/wp-json\/wp\/v2\/comments?post=515"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/learn\/wp-json\/wp\/v2\/posts\/515\/revisions"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/learn\/wp-json\/wp\/v2\/media?parent=515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/learn\/wp-json\/wp\/v2\/categories?post=515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/learn\/wp-json\/wp\/v2\/tags?post=515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n\n
\n Currencies used in Canada<\/strong><\/td>\n<\/tr>\n \n Currency<\/strong><\/td>\n Dates in use<\/strong><\/td>\n Value in\u00a0British pounds<\/strong><\/td>\n Value in Canadian dollars<\/strong><\/td>\n<\/tr>\n \n Canadian pound<\/td>\n 1841\u20131858<\/td>\n 16s 5.3d<\/td>\n $4<\/td>\n<\/tr>\n \n Canadian dollar<\/td>\n 1858\u2013present<\/td>\n 4s 1.3d<\/td>\n $1<\/td>\n<\/tr>\n \n New Brunswick dollar<\/td>\n 1860\u20131867<\/td>\n<\/tr>\n \n British Columbia dollar<\/td>\n 1865\u20131871<\/td>\n<\/tr>\n \n Prince Edward Island dollar<\/td>\n 1871\u20131873<\/td>\n<\/tr>\n \n Nova Scotian dollar<\/td>\n 1860\u20131871<\/td>\n 4s<\/td>\n $0.973<\/td>\n<\/tr>\n \n Newfoundland dollar<\/td>\n 1865\u20131895<\/td>\n 4s 2d<\/td>\n $1.014<\/td>\n<\/tr>\n \n 1895\u20131949<\/td>\n 4s 1.3d<\/td>\n $1<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \n
\n\n
\n Currency distribution of global foreign exchange market turnover<\/strong><\/td>\n<\/tr>\n \n Rank<\/strong><\/td>\n Currency<\/strong><\/td>\n \u00a0Exchange\u00a0code
\n(Symbol)<\/strong><\/td>\n\u00a0% daily share
\n(April 2010)<\/strong><\/td>\n<\/tr>\n\n 1<\/td>\n \u2009United States dollar<\/td>\n USD ($)<\/td>\n 84.9%<\/td>\n<\/tr>\n \n 2<\/td>\n \u2009Euro<\/td>\n EUR (\u20ac)<\/td>\n 39.1%<\/td>\n<\/tr>\n \n 3<\/td>\n \u2009Japanese yen<\/td>\n JPY (\u00a5)<\/td>\n 19.0%<\/td>\n<\/tr>\n \n 4<\/td>\n \u2009Pound sterling<\/td>\n GBP (\u00a3)<\/td>\n 12.9%<\/td>\n<\/tr>\n \n 5<\/td>\n \u2009Australian dollar<\/td>\n AUD ($)<\/td>\n 7.6%<\/td>\n<\/tr>\n \n 6<\/td>\n \u2009Swiss franc<\/td>\n CHF (Fr)<\/td>\n 6.4%<\/td>\n<\/tr>\n \n 7<\/td>\n \u2009Canadian dollar<\/strong><\/td>\n CAD ($)<\/td>\n 5.3%<\/td>\n<\/tr>\n \n 8<\/td>\n \u2009Hong Kong dollar<\/td>\n HKD ($)<\/td>\n 2.4%<\/td>\n<\/tr>\n \n 9<\/td>\n \u2009Swedish krona<\/td>\n SEK (kr)<\/td>\n 2.2%<\/td>\n<\/tr>\n \n 10<\/td>\n \u2009New Zealand dollar<\/td>\n NZD ($)<\/td>\n 1.6%<\/td>\n<\/tr>\n \n 11<\/td>\n \u2009South Korean won<\/td>\n KRW (\u20a9)<\/td>\n 1.5%<\/td>\n<\/tr>\n \n 12<\/td>\n \u2009Singapore dollar<\/td>\n SGD ($)<\/td>\n 1.4%<\/td>\n<\/tr>\n \n 13<\/td>\n \u2009Norwegian krone<\/td>\n NOK (kr)<\/td>\n 1.3%<\/td>\n<\/tr>\n \n 14<\/td>\n \u2009Mexican peso<\/td>\n MXN ($)<\/td>\n 1.3%<\/td>\n<\/tr>\n \n 15<\/td>\n \u2009Indian rupee<\/td>\n INR ()<\/td>\n 0.9%<\/td>\n<\/tr>\n \n Other<\/td>\n 12.2%<\/td>\n<\/tr>\n \n Total<\/strong><\/td>\n 200%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n