The Canadian Dollar (CAD), commonly referred to as the "loonie," is the official currency of Canada. It is symbolized by "$" and sometimes differentiated as C$ to distinguish it from other dollar-denominated currencies. Introduced in 1858, the CAD is one of the world's major currencies and is considered highly stable. It is popular among currency traders due to Canada's strong economic fundamentals, including its vast natural resources. The Canadian Dollar is divided into 100 cents and is managed by the Bank of Canada.