Here’s why the Canadian dollar is called the loonie

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REUTERS/Gary Cameron

Friday was Canadian Jobs Day, and Canada crushed expectations.

That sent the Canadian dollar – or loonie – surging.

It also prompted my colleagues to question why the Canadian dollar is called the loonie.

The answer is really simple: There’s a picture of a loon on one side of the $1 coin.

A loon is a bird that looks not unlike a duck, and is extremely common in Canada. They’re also pretty vocal, and make several types of pleasant hoots and wails.

Of note, Canada does not have $1 bills. The lowest bill denomination in Canada is the $5 bill.

Other Canadian coins include dimes, nickels, quarters, and $2 toonies.

The toonie – a combination of the words “two” and “loonie” – has a polar bear on one side.

All Canadian coins bear the image of Queen Elizabeth II on the reverse side.

Here’s the loon:

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Flickr/Jay-P