The Canadian dollar is known as the currency of Canada.
- History: The Canadian dollar has been recognized as the official currency since 1858. Before this period, different types of currencies have been used in Canada.
- Formation and inauguration: The Canadian dollar was created as the national currency by the Act of Promotion of Monetary Value in 1858. At first, it was known as "Canadian money" and after some time it was changed to "Canadian dollar".
- Historical steps: Until the federal government of Canada was established, the country used local and English dollars. With the establishment of the National Bank of Canada in 1871 and the recognition of this bank as the central bank, the development of the Canadian dollar was accelerated.
Overall, the Canadian dollar has a long and dynamic history that has seen many changes over time and reached its current state.
The Canadian dollar (CAD) plays an important role in the Canadian tourism industry. Tourism is recognized as a growing and vital industry in Canada that has profound effects on financial transactions.
The exchange rate of the Canadian dollar affects the tourism business. An increase or decrease in the value of the Canadian dollar can affect prices, costs, and the attractiveness of tourism. These fluctuations can affect the number of tourists and the income from this industry.
The Canadian dollar is a key player in global trade and international financial transactions, and its effects on tourism are seen as an attractive destination for travelers around the world.