BestExchangeRates Canada Compare & Save on Foreign Exchange
How BestExchangeRates Saves You 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.
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Popular CAD Exchange Rates
Follow exchange rates via your personal BER 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.
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Canadian dollar market update
The Canadian dollar (CAD), commonly known as the "loonie," received support following positive GDP figures, demonstrating unexpected acceleration in domestic growth in March. This comes on the heels of a surprise contraction in February, highlighting the economy's resilience. Politically, the CAD gained traction after Prime Minister Carney's Liberals retained power, albeit without securing a majority, which has contributed to investor confidence.
Currently, the CAD is trading against key currencies with notable dynamics. The exchange rate for CAD to USD sits at 0.7223, a substantial 2.6% above its three-month average of 0.7039, reflecting a more stable trading range of 0.6801 to 0.7247. Conversely, CAD to EUR is at 0.6393, approximately 1.7% below its three-month average of 0.6502, indicative of volatility in this pairing. The loonie is showing strength against the GBP as well, reaching 7-day highs near 0.5437, just 0.6% below its three-month average of 0.547, and has traded in a stable range from 0.5347 to 0.5651. Furthermore, against the JPY, the CAD is experiencing a 30-day high near 105.0, which is 0.6% above its three-month average of 104.4.
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.
Latest Articles
Recent popular articles from our research team
Loonie Resilience Defies Odds Amid Carney Election and Trade Tensions
The Canadian dollar has defied political chaos and global headwinds to emerge as one of 2025’s unlikely winners. But with minority rule in Ottawa, soaring household debt, and a high-stakes U.S. election looming, the loonie’s fight for survival is just beginning.
Argentina's Peso Surprises Markets Amid Economic Reforms
Milei publicly criticizes economists as econo-swindlers and alarmists as Argentina's peso has defied expectations by maintaining stability following recent economic reforms, easing inflation concerns and bolstering investor confidence.
OFX vs Wise: Which Money Transfer Service Is Best For You in 2025
Looking to transfer money internationally? We compare OFX and Wise side by side, covering costs, exchange rates, speed, and features to help you choose the best service for your needs in 2025. Which one is right for you depends largely on how much you’re sending, how often you transfer, and whether you value real-time convenience or personal account management.
Best Multi-Currency Accounts
We compare the features, exchange rates and security of the three best multi-currency accounts available today — the Wise Account, the WorldFirst World Account, and the OFX Global Currency Account.
Understanding the US Dollar: A Guide to America's Currency for Travelers and Investors
The United States dollar is the official currency of the United States of America but also is the world’s dominant reserve currency, and it accounts for roughly 62% of global foreign exchange reserves, double that of the Euro and Yen. In fact, the US Dollar has been the world’s reserve currency for over 100 years.