Loonie

Dictionary Says

Definition of 'Loonie'


Colloquial term that refers to the $1 Canadian coin, and also to the Canadian dollar in forex markets. The loonie derives its name from the picture of a solitary loon on one side of the coin.

Investopedia Says

Investopedia explains 'Loonie'


The loonie was introduced in 1987 as a cost-saving measure to replace dollar bills. The 11-sided coin is made of aureate bronze, and was designed by noted wildlife artist Robert-Ralph Carmichael. The widespread acceptance of the $1 loonie led to the introduction of the $2 "toonie" in September 1995.

The loonie is among the top 10 most widely traded currencies in forex markets. Thanks to Canada's burgeoning exports of energy and commodities, the loonie was among the best-performing currencies against the U.S. dollar in the first decade of the new millennium.



comments powered by Disqus
Hot Definitions
  1. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  2. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  3. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  4. IPO ETF

    An exchange-traded fund that focuses on stocks that have recently held an initial public offering (IPO). The underlying indexes tracked by IPO ETFs vary from one fund manager to another, but index IPO ETFs are usually passively managed and contain equities that have recently been offered to the public.
  5. IPO ETF

    An exchange-traded fund that focuses on stocks that have recently held an initial public offering (IPO). The underlying indexes tracked by IPO ETFs vary from one fund manager to another, but index IPO ETFs are usually passively managed and contain equities that have recently been offered to the public.
  6. Maritime Law

    A body of laws, conventions and treaties that governs international private business or other matters involving ships, shipping or crimes occurring on open water.
Trading Center