The Canadian Dollar (CAD) is the official currency of Canada. It is used to facilitate the trading of goods and services, as well as to make investments and financial transactions. The CAD is a safe-haven currency, meaning that many investors view it as a reliable store of value in times of economic uncertainty. As a result, the CAD tends to remain stable in comparison to other currencies. The CAD is also often used as a hedge against currency fluctuations, as it is less volatile than some other major currencies. Additionally, the CAD is an important component of the global economy and financial market, as it is one of the world’s most actively traded currencies.