Compare FX & Save - Best Exchange Rates Canada
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 $200M on foreign exchange.
We partner with only the largest, safest and most trusted foreign exchange brands.
Track CAD rates – transact when market in your favour. Follow FX forecasts & analysis.
Any marketing fees we receive from partners do not affect your exchange rate savings.
Popular CAD Exchange Rates
Follow exchange rates via your personal BER My Rates Tracker to keep track of trending currency pairs so that you can take advantage of opportunities and trends in the market.
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.
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We compare exchange rates from major financial institutions in Canada.
Save with our partners who are among the best & most trusted brands in Canada.
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 market update
The Canadian dollar (CAD) experienced a decline recently, driven by a significant pullback in oil prices, which have a strong correlation to the CAD's performance. As Canada's economy is heavily influenced by its status as a major oil exporter, the market view suggests that as oil prices continue to retreat, the 'loonie' may face further depreciation. Current data indicates that CAD to USD is trading at 30-day lows around 0.7327, consistent with its three-month average and within a narrow trading range of 0.7207 to 0.7445. This decline is particularly notable given that the US is Canada’s largest oil market, consuming 20 million barrels daily while producing only about 12 million barrels, highlighting the structural reliance of the CAD on oil market movements.
In contrast, CAD to EUR has recently dipped to 7-day lows of 0.6673, remaining slightly above the three-month average and maintaining a relatively stable trading range from 0.6590 to 0.6780. On the other hand, CAD to GBP is currently at 0.5592, a mere 0.5% shy of its three-month average, implying a strong but stable position relative to the British pound. Additionally, CAD to JPY reflects some resilience, trading just above its three-month average despite experiencing a volatile 14.7% trading range. With the current price of Brent Crude oil hovering at $77.47 per barrel—just below its three-month average and trading within a volatile range of $70.61 to $85.73—FX analysts are closely monitoring further developments that could influence the CAD's trajectory as it is likely to remain affected by fluctuations in the oil markets.
BestExchangeRates.com keeps you up-to-date on Canadian dollar forecasts by collating the views of reliable FX forecasters and economists together with recent CAD price trends. This analysis covers a wide range of factors including economic indicators, geopolitical events, central bank policies, and technical analysis to provide a thorough and current outlook on currency trends.