Monday, March 27, 2017 8:18 PM
Currencies rates online for Euro (EUR) to Canadian Dollar (CAD).
Forex data is updating every 5 minutes.
In order to convert currencies, please go to Canadian Dollar (CAD) to Euro (EUR).
The currency converter uses the latest Forex exchange rates.
The euro (symbol: €; currency code: EUR) is the official currency of the Eurozone, which comprises 19 member states of the European Union (Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxemburg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain). Since its introduction, the euro has been adopted by several sovereign states that are not part of the European Union and include the Principality of Andorra, the Principality of Monaco, the Republic of San Marino, and the Vatican City, as well as by a number territories, departments and sovereign states of Eurozone countries including the Azores, the Canary Islands, and the Madeira Islands, among others. One (1) euro is equal to one hundred (100) euro cents.
The euro is the second largest reserve currency in the world after the United States dollar. It is also the second most traded currency worldwide, while it is estimated that it has surpassed the U.S. dollar in terms of the combined value of banknotes and coins in circulation. It is estimated that the euro is used by approximately 337 million Europeans on a daily basis.
The euro replaced the European Currency Unit (ECU) as an accounting currency on January 1, 1999, at a ratio of 1:1. The circulation of euro coins and banknotes began on January 1, 2002.
The Canadian dollar (symbol: $; currency code: CAD) is the official currency of Canada. To distinguish between it and other dollar-denominated currencies, the Canadian dollar is sometimes abbreviated as C$. One (1) Canadian dollar is equal to one hundred (100) cents.
The Canadian dollar is widely referred to by Canadians as the “loonie”, a term which forex traders and analysts also employ. This is due to the image of a loon on the one-dollar coin. The Canadian dollar is the fifth largest reserve currency in the world, behind the U.S. dollar, the euro, the Japanese yen and the pound sterling, and the seventh most traded currency in the forex market.
The Canadian dollar was preceded by the Canadian pound, which was introduced in 1841. A widespread need to adopt a decimal monetary system based on the U.S. dollar due to the proximity of the two countries and the increasing trading activities between the two lasted for years, before the Canadian dollar was eventually introduced in 1858. The Canadian Parliament passed the Uniform Currency Act in April 1871 to replace the currencies of all provinces with a common Canadian dollar.