1. Exchange Rates
  2. Canadian dollar (CAD)
  3. Euro (EUR)

Convert CAD to EUR at Best Exchange Rates

There are three amounts that you need to understand if you are to have any chance of getting the best possible CAD to EUR rate, these are :

  1. The CAD/EUR foreign exchange market mid-rate
  2. The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider
  3. Any fixed or percentage fees for your transfer or currency exchange.

1 Canadian dollar equals
Euro 1=

Right now the CAD/EUR market rate is and represents how many Euro you can get for one Canadian dollar. You can calculate with the current mid-rate using our CAD to EUR calculator below but note the rate will most likely be quite different by the time you make you currency exchange.

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time comparison calculators make shopping around easy and help you calculate how much you can save.

Why can't I just get the same CAD/EUR market rate I see on Google or in the Media?

When you look up the current Canadian dollar to Euro exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.

CAD to EUR mid-rate on google

CAD to EUR mid-rate on google search

Getting a great CAD to EUR mid-market rate is all about timing, so unless you are able to wait, watch and time the market this is largely beyond your control. This rate will go up and down with varying amounts of volatility depending on the currency pair.

This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.

You can use the below CAD to EUR calculator to convert currency amounts using the latest mid-market exchange rates. Then choose your transaction type for specific Canadian dollar cross rates and reviews of leading foreign exchange providers versus the Banks.

CAD to EUR mid-rate calculator

1 CAD equals

Compare rates for: Currency Exchange or Foreign Transfers
Loading CAD/EUR Chart

Canadian dollar - market update

The Canadian dollar had an excellent end to 2017, having piggybacked off an impressive year-end rally in oil prices. The narrative has changed in early 2018 however, with the loonie currently (to March 2nd) the worst performing G10 currency of the year.

At the time of this report, CAD was buying US$0.776 – in line with its average rate over the past twelve months – but had tumbled to 9-month and 2-year lows versus the yen (¥81.9) and euro (€0.6305) respectively.

The loonie's weakness in January was surprising given an interest rate hike in Canada, largely positive economic data and oil’s rally late into the month; however, in February and early March, the need for a Canadian dollar “mayday” was obvious.

Reasons for the Canadian dollar's recent distress have included a $6 fall in the price of oil, a loss of 88,000 Canadian jobs in January (announced in February) and, perhaps most importantly, new US tariffs on steel and aluminium imports. Not only is Canada the largest supplier of steel and aluminum to the US, but the war of words that followed Washington’s announcement – Canada’s foreign minister said that “responsive measures” would be taken – will no doubt complicate and threaten ongoing NAFTA negotiations.

Forecasts: A New Year Reuters poll of forty analysts produced a median 2018 year-end estimate of 0.8 for CAD/USD. For CAD/EUR, ABN Amro are forecasting 0.679 at year-end, while RBC sees 0.72 as most likely.

Euro - market update

The euro was the best performing G10 in 2017 and was broadly stable in early 2018.

In the seven-week period between January 1st and February 15th (the time of this report), EUR/USD threatened 1.25 multiple times – a level not seen since 2014 – but appears to have met resistance at this level. It should be said that much of EUR/USD's recent rally is a result of broad US dollar weakness, rather than of broad euro strength.

Entering 2018, forecasts for EUR/USD ranged between 1.15 and 1.3. A more recent judgement on the pair came in February from Jens Nordvig, founder of Exante Data, who said that “dips [in EUR/USD] should be used to add to long exposure.” Nordvig declined from giving any precise upside targets.

Against sterling, the euro is little changed since the summer of last year. A EUR/GBP rate of 0.8855 in mid-February was more or less identical to that in mid-September, five months earlier.

Entering 2018, Danske Bank forecast EUR/GBP at 0.86 at year-end, while UBS forecast a much higher rate of 0.95.

By mid-February, the euro was marginally down on the year against the yen, at rates in the high 132s.

Significant bullish news for the euro in early 2018 came from Germany, with Angela Merkel’s CDU-CSU party bloc achieving a breakthrough in coalition talks with the Social Democrats, which reduced political uncertainty in Europe’s largest economy.

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