Send Money To Canada With CurrencyFair
How do I send money to Canada?
How Does It Work?
If you choose to deposit through our “Create a Transaction” option, your money will be exchanged straight away at the best rate available as soon as it reaches us.
History of the Canadian Dollar
Canada has a rich history when it comes to currency. For example, in the 16th century, items such as fur were regarded as currency.
The Canadian dollar came into use in 1867, when the colonies of Canada, New Brunswick and Nova Scotia were united in a confederation known as the Dominion of Canada.
As part of this, each colony abandoned its own currency and used the Canadian dollar. Prince Edward Island later joined the Dominion of Canada in 1873 and in April 1871, the Canadian Parliament passed the Uniform Currency Act, tying up old currencies and replacing them with the Canadian dollar. The currency has been floated since 1970.
The fifth most held reserve currency in the world, the Canadian dollar is also referred to as ‘the loonie’ or ‘the loon’ thanks to the image of a loon on the one-dollar coin.