The Canadian dollar (CAD) is the official currency of Canada, represented by the symbol "$" or "C$" to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents and is issued by the Bank of Canada, the country's central bank. The Canadian dollar is widely used in international trade and is considered one of the major currencies in the world. The value of the Canadian dollar can fluctuate based on various factors, including economic performance, interest rates, and commodity prices, particularly oil, as Canada is a significant oil producer. The currency is often traded in foreign exchange markets and is influenced by the economic relationship between Canada and its largest trading partner, the United States.