Canadian Dollar (Noun)
Meaning
The basic unit of money in Canada; "the Canadian dollar has the image of loon on one side of the coin".
Classification
Nouns denoting quantities and units of measure.
Examples
- The value of the United States dollar often affects the value of the Canadian dollar in international exchange markets.
- Tourists often convert their US dollars into Canadian dollars when traveling in Canada for convenient local spending.
- During inflation the purchasing power of the Canadian dollar drops so that one can buy less goods for one Canadian dollar than in the previous period.
- Banks give foreign currency exchange rate when people are traveling outside their home countries including changing from Canadian dollars.
- Financial forecasts report if there are reasons why a major loss for the value of the Canadian dollar can happen or vice versa for appreciation