1. Exchange Rates
  2. Canadian dollar (CAD)
  3. United States dollar (USD)

Convert CAD to USD 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 USD rate, these are :

  1. The CAD/USD 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
United States dollar 1=


Right now the CAD/USD market rate is and represents how many United States dollar you can get for one Canadian dollar. You can calculate with the current mid-rate using our CAD to USD 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/USD market rate I see on Google or in the Media?

When you look up the current Canadian dollar to United States dollar 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 USD mid-rate on google

CAD to USD mid-rate on google search

Getting a great CAD to USD 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 USD 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 USD mid-rate calculator

$
$
1 CAD equals
USD 1CAD=USD

Loading CAD/USD Chart

Canadian dollar - Recent Performance

Having climbed to a 26-month high against the dollar of 0.829 (USD/CAD 1.206) in September following an unexpected Bank of Canada rate hike, the Canadian dollar spent much of the next five weeks losing value. By mid-October, the “loonie” had weakened back to 0.794 (USD/CAD 1.259). Softness in the currency reflected an improved outlook for USD and concerns that NAFTA negotiations with the US and Mexico might unravel.

Interestingly, in the five or so weeks prior to this report, the Canadian dollar had relaxed its dependency on oil as a driver of its valuation. During this period, prices for US oil futures rose more than 10%, yet the Canadian dollar weakened by 4% against the US dollar and by 1% against the euro.

In September, Dutch bank ABN Amro predicted that CAD would strengthen to 1.12 per USD by the end of 2018. As its reasons, ABN cited “strong conviction” on future USD weakness, future commodity price rises, an improvement in global trade and further rate hikes by the Bank of Canada.

With two rate hikes under its belt since July, the Bank of Canada is one of only two major central banks (together with the US Federal Reserve) to have entered a policy tightening cycle.

Analysts at Scotiabank predicted in September that Canadian interest rates would be raised to 1.75% by the end of 2018; they stand currently at 1%.

United States dollar - Recent Performance

The US dollar has stabilized since September having tumbled in the first eight months of the year. Within the September-December period, EUR/USD, for example, pulled back from levels above 1.20 to the mid-1.17s and USD/CAD climbed into the mid-1.28s, from the mid-1.20s. Against the Japanese yen, the dollar traded in the first week of December above 113, having been below 108 in September.

A better-than-expected US payrolls number in December affirmed investor expectations for future US interest rate hikes in December 2017 and March of 2018.

Interest rates are the principal driver of foreign exchange rates but the dollar has also been supported in recent months by Donald Trump’s planned tax cuts, which are expected to boost the US economy.

In a note to clients in December, Dutch bank ING predicted that the dollar would weaken throughout 2018. The bank forecast EUR/USD at 1.30 before 2018 was done, representing a 9.5% depreciation in the dollar's value from December 2017 rates.

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