- Definition
Currency is the money, like coins and paper bills, that a country uses to buy and sell things. For example, in Canada, our currency is the dollar.
The currency used in Canada is the Canadian dollar, which includes coins like loonies and toonies, and colourful bills.
How to teach this in 30 seconds
Try this analogy: Currency is a country's official money system, like how each board game has its own special type of play money that only works in that game.
Ask your child: If we travelled to another country, could we still use our Canadian dollars at the store?
Common mix-up: Kids might think every country uses the same money. Different countries have their own unique currencies, like the dollar in Canada or the yen in Japan.
Examples
- When travelling to France, you have to exchange Canadian dollars for euros, which is the currency used there.
- Earning an allowance in Canadian dollars, which you can use to buy things at local stores.
currency is a term used in Ontario’s Kindergarten to Grade 8 curriculum.
Where this shows up
The descriptions on this page are SmartStudy’s own original, plain-language writing — not the Ministry’s wording. They are aligned to the Ontario Curriculum, © King’s Printer for Ontario. For the Ministry’s official wording, see the source link below. SmartStudy is an independent service and is not affiliated with, endorsed by, or sponsored by the Government of Ontario or the Ministry of Education. Ontario Curriculum and Resources ↗
