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Compare FX Providers and Banks for:
| Foreign Transfer Providers | Receive USD(U$) | Exchange Rate | Fee CAD | Total Cost | Deal Links |
|---|---|---|---|---|---|
 | U$7,449 Best Overall | 0.7449 | 0 | 1.25% | |
 | U$7,483 U$34 more | 0.7483 | 0^ | 0.8% | |
Banks - Average Rate      Average Bank Rate | U$7,198 U$251 less | 0.7259 | 15 | 4.57% |
| Travel Money Providers | Amount USD(U$) | Exchange Rate | Fee CAD | Total Cost | Deal Links |
|---|---|---|---|---|---|
 | U$727.90 Best Overall | 0.7279 | $0 | 3.5% | |
Banks - Average Rate Average Bank Rate | U$702.83 U$25 less | 0.7075 | C$10 | 6.82% |
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The Canadian dollar stormed ahead in the second half of June, rising to a 16-week high against the US dollar and to 8-month highs against the euro, pound, Australian and New Zealand dollars. Against the Aussie, a minimal additional increase would take CAD to a 9-year high.
Supporting the loonie was a 10 percent rise in the oil price (oil is among Canada’s most exported products but is volatile and can’t be relied upon), a large and welcome jump in inflation, and dovishness at major central banks of the world, including the Federal Reserve, ECB and RBA.
Any delay to Canadian ratification of the USMCA trade deal (already accepted by Mexico) is likely to depress sentiment on Canada’s currency.
For more details read the full article Canadian dollar news and forecasts.
Key Takeaways from the ACCC inquiry into currency conversion services. BestExchangeRates referenced among comparison sites playing an important role in customer awareness of the excessive currency margins charged by banks.
Last update: 1 Oct, 2019
Both the Australian dollar and British pound sterling have had a hard time of late caught between the rock of the China/US trade war and the Brexit hard place.
Last update: 27 Aug, 2019
The RBA has cut Australian interest rates to a record low of 1 percent in an effort to boost inflation. The Australian dollar is slightly stronger following the widely expected decision but is expected to lose 5–7 percent of its value before year-end.
Last update: 14 Aug, 2019
The British pound was the worst-performing major currency in the April-June period and remains “impossible to forecast” amid a Tory leadership battle that might force “no deal” or a general election.
Last update: 30 Jun, 2019
The US dollar has held its value this year despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others. After grim employment data on June-7, the Dollar Index was up 0.5 percent on the year (it had fallen 2 percent from May’s 2-year high).
As in other parts of the world, interest rate cuts are now expected in the US following a drastic shift in economic forecasts. At least two Fed cuts are expected this year, with the first most likely to come in July.
Taking the blame for the economic downturn is US President Donald Trump, whose trade policies have set a ball rolling that could wipe $455bn from global output according to the IMF.
The holy grail when you send money abroad is finding an organisation that you can trust and one that offers the best exchange rates along with transparent, smart and straightforward customer service.
Last update: 3 May, 2019
Sterling has climbed more than 5 per cent in October since Boris Johnson announced a new Brexit agreement with Brussels that has reduced the possibility of the UK crashing out of the EU without a deal. Pound valuations will continue to fluctuate based on Brexit No-deal, Deal and Remain probabilities. Currency strategists predict that gains in the pound would remain limited for now while parties prepared their election campaigns.
The pound would be doing far worse if it weren't receiving some support from the Bank of England which, surprisingly, is the only major central bank still considering higher interest rates in 2019.
Earlier in the year the pound was the worst-performing major currency by some margin. It slipped in late June to multi-month lows against a number of important currencies, including the Australian dollar, New Zealand dollar, euro, Canadian dollar and Swiss franc.
TransferWise has been making waves in the global payments market since it came on the scene back in 2011 and is undoubtedly one of the best services for sending money across borders.
Last update: 29 Nov, 2019
OFX is one of the world’s largest and best providers of international money transfers. This highly regulated firm offers a complete foreign exchange solution complete with 24/7 phone support.
Last update: 27 Aug, 2019
XE works on razor thin margins for money transfers to more than 100 countries and nearly always guarantees a fantastic deal. Transfers can be booked online and over the phone and most are processed within a single working day.
Last update: 26 Aug, 2019
Euro sentiment dipped in mid-June after the ECB, like other major central banks of the world, ramped up its dovish rhetoric. It said that there was “considerable room” for further quantitative easing and that it would consider negative interest rates. Ordinarily, this would spark an extended euro decline but since other major currencies are also wrestling with easier central bank policies, euro depreciation may be contained.
In spite of Brexit, a slowdown in economic growth, Italian risks and persistently weak inflation — an important measure of inflation expectations fell in June to a record low — the euro did fantastically well against the Australian dollar, New Zealand dollar and British pound between mid-April and mid-June. Due to a stronger US dollar, EUR/USD was down 2 percent on the year at $1.12, close to long-term lows.
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