The Dollar is the unit of money used in the USA, Canada, Australia, and some other countries.
In dividing the Dollar, you get one hundred smaller units called cents as compared to the Naira, which is the unit of money in Nigeria that, when divided, is rendered in kobo(s).
The Dollar $ used in the United States of America seems to be and has proven to be the most potent and influential Dollar there is (USD) affecting and being used as a universal medium. It is used to refer to the American currency system.
In the exchange market, the Nigerian Naira (NGN, ₦) has proven to falter to the American currency.
The Canadian Dollar is a distinct currency from the USD in comparing Dollars.
The exchange rate varies from day to day. Typically, in the trade market, one Candian Dollar will trade at less than one United States dollar.
We often and on see comparisons of the USD to the NGN. This has been the common trend among businessmen and currency dealers. How about a shift for a second?
How much is the Canadian Dollar to Naira?
The Canadian Dollar is the currency of Canada. It is abbreviated with the Dollar sign $, CA$ or sometimes CAD to distinguish it from other dollar-denominated currencies. Just like the US Dollar, it is divided into one hundred cents.
Although the Canadian Dollar has no personal interaction with the Naira like the United States dollar, it still surpasses the Naira in quantitative and qualitative value.
As it is shown and proven, the CA$ ranks as rated;
1 Canadian Dollar = 327.53 Nigerian Naira
1 CA$ = ₦327.53
It has always been a fall and fall of the Nigerian Naira in its relationship with the Canadian Dollar (and other foreign currencies). This has caused many commodities to lose value and facilitated import/export transactions.
What governs this exchange rate? The Canadian dollar exchange rates are indicative rates only, and these rates, as approved by the bank of Canada, are obtained from averages of aggregated price quotes from financial institutions.
The United States dollar being the most influential Dollar in existence, affects the attitude of the other Dollars in the trade market, including the Canadian Dollar, and as such, they follow the chart and falls below the rate chart to the Naira
People also ask;
Has the Canadian Dollar always been above the Naira?
What makes the Canadian Dollar so powerful?
Why does the Naira keep falling?
What is the highest currency in the world?