What is the Currency Act of Canada?

An Act respecting currency and the Exchange Fund Account 1 This Act may be cited as the Currency Act. 2 In this Act, 3 (1) The monetary unit of Canada is the dollar. (2) The denominations of money in the currency of Canada are dollars and cents, the cent being one hundredth of a dollar. 4 to 6 [Repealed, R.S., 1985, c. 35 (3rd Supp.), s. 17]

What is Canadian currency governed by?

Canadian currency is governed by the Currency Act, Bank of Canada Act, and the Royal Canadian Mint Act. The Minister has overall responsibility for the currency system (circulating coins and bank notes). The Minister of Finance is the minister responsible for the Royal Canadian Mint, which supplies the coinage needs for the Canadian economy.

What currency is used in Canada?

(2) The denominations of money in the currency of Canada are dollars and cents, the cent being one hundredth of a dollar. 4 to 6 [Repealed, R.S., 1985, c. 35 (3rd Supp.), s. 17] (b) the Crown in any province of Canada before it became part of Canada and if the coin was, immediately before October 15, 1952, current and legal tender in Canada.