- 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: