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

Compare rates for: Currency Exchange or Foreign Transfers
Loading CAD/USD 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.

United States dollar - market update

Chief among FX themes in 2017 was the dramatic weakness of the US dollar. Unfortunately for those holding US currency, 2018 has started in much the same way that 2017 ended.

In 2017, the US Dollar Index (DXY) recorded its worst annual performance since 2003, with a decline of nearly 10%. In the first seven weeks of 2018, the index managed to give up a further 4%. A DXY price of 88.62 on February 15th (the time of this report) took the dollar’s value back to 2014 levels. Of special note in early 2018 is USD/JPY, which fell nearly 6% by mid-February.

Importantly, the dollar’s trajectory has recently decoupled from that of US interest rates. Despite US yields climbing steadily in 2018, the dollar has sunk. Explanations for this came in February from Crédit Agricole, whose analyst said that dollar traders “remained uninspired by US economic prospects” and likely held the belief that higher interest rates would bring forward the end of the US’ current expansionary cycle; and from Standard Chartered, whose analyst said that traders were choosing to focus on the US’ ever-widening twin deficits, which were now “pretty nasty.”

“It’s easy to see the weak-dollar story persisting,” said ING in February. The bank has forecast a 15% rise in EUR/USD in 2018, to 1.3.

Entering the new year, analysts had been bearish the dollar. In December, a Societe Generale analyst said that the currency “looked expensive” given the more balanced outlook for global growth, and TD Securities said that the macro landscape favoured a “steady depreciation of the dollar in 2018.”

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