The official currency of Canada is the Canadian dollar, abbreviated as CAD and often represented by the symbol $. It is subdivided into 100 cents. The Canadian dollar is recognized for its stability and is one of the most traded currencies in the world. Canada's central bank, the Bank of Canada, manages the currency's monetary policy and supply. The Canadian dollar is linked to the country's natural resources, including oil and minerals, and its value can fluctuate based on global economic factors, trade relationships, and changes in commodity prices.