BestExchangeRates Canada Compare & Save on Foreign Exchange
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How BestExchangeRates Saves Canadians Money on FX
For over a decade BestExchangeRates.com has been a trusted voice in foreign exchange in Canada and globally.
BestExchangeRates compares exchange rates from popular banks and currency specialists to help you avoid hidden and excessive margins and fees when you send and spend abroad.
We help our users save money by making these fees and exchange rates transparent and easier to compare. With our foreign transfer and currency exchange tools, you can quickly find the cheapest and most convenient way to convert your money.
More than 3 million satisfied visitors have saved over $160M on foreign exchange.
We partner with only the largest, safest and most trusted foreign exchange brands.
Track currencies – find buying opportunities. Learn about currencies and the FX market.
The marketing fees we receive from our partners don’t affect your margins.
Our partners are among the best & most trusted brands in Canada
We also compare exchange rates from popular banks in Canada
Canadian dollar Forecasts & Analysis
To offer an up-to-date and comprehensive outlook on currency trends, BestExchangeRates.com tracks and compiles data from a range of reputable FX analysts for our users tracking popular Canadian dollar exchange rates. The reports and data we review covers various aspects of the foreign exchange market, such as economic indicators, geopolitical events, central bank policies, and technical analysis.
Here are some Canadian dollar forecasts popular with our users in Canada:
CAD to USD
Based on recent FX analyst forecasts, the Canadian dollar has struggled against the US dollar due to the risk-on and risk-off environments in financial markets, not the fundamentals in the US and Canada, as both economies are strongly correlated. Continued housing price declines and adverse wealth effects could put more negative pressure on the Canadian dollar in 2023. Additionally, CAD to USD at 0.7248 is 2.0% below its 3-month average of 0.7393, having fluctuated within a 4.3% range of 0.7215-0.7524. Given the current economic environment, investors and businesses should stay alert to fluctuations in the exchange rates and use suitable tools to make informed decisions to reduce the impact of currency market risks when conducting international transactions.
More analysis: Compare CAD/USD rates
CAD to EUR
CAD to EUR may continue to face downward pressure through March, as recent forecasts by FX analysts suggest. The Canadian dollar has been performing poorly due to lower-than-expected GDP growth and the slow pace of inflation. Furthermore, the elevated central bank rate expectations and the strengthening US dollar are also contributing to the decline in CAD value. As a result, key support points at 0.6720 and 0.6680 may continue to be tested, and we may see CAD to EUR trading between 0.6600 and 0.6950 during this period.
More analysis: Compare CAD/EUR rates
Here are our latest updated forecasts and currency outlooks:
Save on International Money Transfers
Sending money abroad can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfers can be very expensive – often 5% to 6% worse than using a foreign exchange specialist to send money abroad or pay a foreign invoice.
Where do you want to Send Money?
Most Compared Money Transfers on BER
Get Better Currency Exchange Rates
We show you how to save by ordering foreign cash online or compare rates on multi-currency travel cards for better currency exchange rates, convenience and security for your next trip or overseas online purchase.
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Canadian dollar Currency News & Guides
Popular Cross Rates
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Looking for a way to make your next trip more affordable? Check out our Country Guides to the best deals for your international foreign transfers and travel money. These articles will give you travel tips and offer advice for your next trip abroad.
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