Wednesday, July 22, 2026 - The Canadian dollar experienced its largest gain in three months after Federal Reserve Chair Jerome Powell signaled potential interest rate cuts. However, this momentum faded as the loonie stabilized following recent highs against the US dollar. Additionally, the Bank of Canada's dovish 25-basis-point rate cut led to a decline in the Canadian dollar's value.
| Currency | 07/16/2026 | 07/23/2026 | Change | |
| Seychellois Rupee (SCR) | 0.0602 € | ⇨ | 0.0655 € | +8.83% |
| Silver (oz) | 1.6202 € | ⇨ | 1.6821 € | +3.82% |
| Gold Sovereign | 834.69 € | ⇨ | 852.47 € | +2.13% |
| Gold (oz) | 113.99 € | ⇨ | 116.42 € | +2.13% |
| Bitcoin (BTC) | 56,575 € | ⇨ | 57,741 € | +2.06% |
| Venezuelan Bolívar (VES) | 0.0012 € | ⇨ | 0.0012 € | -1.19% |
| Hungarian Forint (HUF) | 0.0028 € | ⇨ | 0.0027 € | -1.26% |
| Israeli Shekel (ILS) | 0.2908 € | ⇨ | 0.2865 € | -1.5% |
| Papua New Guinean Kina (PGK) | 0.1989 € | ⇨ | 0.1959 € | -1.52% |
| Bolivian Boliviano (BOB) | 0.126 € | ⇨ | 0.0806 € | -36.03% |
| See also the 24h, 30d and 1y changes | ||||
| Currency name | Canadian Dollar |
| Symbol | C$ |
| Also known as | CAD, Canadian Dollar, C$1 = 100 cents |
| ISO code | CAD |
| Banknotes | C$5, C$10, C$20, C$50, C$100 |
| Coins | 1c, 5c, 10c, 25c, C$1 (loonie), C$2 (toonie) |
| Central bank | Bank of Canada - Website: www.bankofcanada.ca |
| Countries | 1 country: Canada (capital: Ottawa, major cities: Toronto, Montreal, Vancouver, Calgary, Edmonton) |
| Population | 37 mil. |
History
The journey of the Canadian dollar began with Canadian Confederation in 1867. The newly formed nation adopted the dollar as its currency in 1871, initially at par with the US dollar, replacing a patchwork of provincial pounds and dollars. Canada's decimal dollar, itself modelled on the US system proposed by Thomas Jefferson, made cross-border commerce easier.
For much of the late 19th and early 20th centuries, Canada operated on the gold standard, fixing the Canadian dollar to a set weight of gold. Like other nations, Canada suspended the gold standard during World War I to finance the war effort and again during the Great Depression.
After World War II, the Canadian dollar was pegged at $1.00 USD under Bretton Woods, then floated briefly from 1950–1962 — unusually early for a major currency — before returning to a fixed rate of $0.925 USD. Canada abandoned the peg permanently in 1970, becoming one of the first G10 countries to float freely.
The Canadian dollar's value is heavily influenced by oil and commodity prices, given Canada's status as a major energy exporter. It often trades between $0.65 and $1.10 USD. A brief period of parity with the US dollar occurred in 2007–2009 and again in 2011–2012 during commodity booms. The Bank of Canada, founded in 1934, sets monetary policy.
Sources:
"Canadian dollar", Wikipedia, https://en.wikipedia.org/wiki/Canadian_dollar
"Bank of Canada", Wikipedia, https://en.wikipedia.org/wiki/Bank_of_Canada