The Canadian dollar is the currency of Canada. It is abbreviated with the dollar sign $, or sometimes Can$ or C$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents. Owing to the image of a loon on the one-dollar coin, the currency is sometimes referred to as the loonie by foreign exchange traders and analysts, as it is by Canadians in general, or huard in French. Canada’s dollar is the 5th most held reserve currency in the world, accounting for approximately 2% of all global reserves, behind only the U.S. dollar, the euro, the yenand the pound sterling. The Canadian dollar is popular with central banks because of Canada’s relative economic soundness, the Canadian government’s strong sovereign position, and the stability of the country’s legal and political systems.