CAD, nicknamed the “loonie,” is the currency abbreviation or currency symbol used to denote the Canadian Dollar. CAD is the official currency of Canada and is considered to be a benchmark currency, meaning that many central banks across the globe keep Canadian dollars as a reserve currency.
What is a $1 called in Canada?
Understanding the Loonie
The loonie refers to the $1 Canadian coin and derives its nickname from the picture of a solitary loon on the reverse side of the coin.