Canada uses the Canadian dollar (CAD) as its currency. The Canadian dollar is divided into 100 cents (¢) and is available in paper notes of 5, 10, 20, 50, and 100 dollars. Canadian coins circulate as 5 cents (nickel), 10 cents (dime), 25 cents (quarter), CAD 1 (loonie), and CAD 2 (toonie) . The Canadian dollar is one of the worlds highest-value currencies and is considered to be a benchmark currency. Retailers throughout the country may accept the US dollar as a form of payment for goods, but it is highly recommended to use the local currency to pay for goods and services. The Canadian dollar is often presented as C$, Can$, $, or CAD to distinguish it from other dollar denominations.