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Canada - Canadian Dollar - Currency Guide

 

Foreign exchange guide to Canada and the Canadian Dollar (CAD)

     

USD/CAD Trend (90-day)

USDCAD at 1.2738 is near its 90-DAY average, range 1.2513-1.3007.
🔔 USDCAD is UP 1.1% TODAY and at 14-DAY HIGHS.
|
Alerts:1-DAY1.1% | 14-DAY HIGHS |
 
Recent USD to CAD Trend + Alerts

The above interactive chart shows the USD/CAD Exchange Rate, Trends and Alerts - UP DOWN HIGH LOW

General Currency Info - Canadian Dollar

Representing a little more than 5% of the foreign exchange market daily turnover, the Canadian dollar (ISO: CAD) is the world’s sixth most traded currency.

Frequently called the ‘loonie’ by foreign exchange traders due to the image of a loon (an aquatic bird) on Canada’s one-dollar coin, the currency’s value is heavily influenced by commodities prices, particularly oil. For this reason, the Canadian dollar is often labelled a ‘petro-currency’. Canada currently has the world’s third largest oil reserves and is the world’s fourth largest oil exporter.

Canadians are mostly concerned with the value of their currency against the US dollar, since nearly 80% of Canadian exports go south of the border. In the past two decades, the Canadian dollar lowest value against its US counterpart occurred in January 2002 when the CAD/USD exchange rate traded at just 0.6178. The currency’s two-decade high occurred in November 2007 (following a boom in the oil price) when CAD/USD reached 1.1041.

The Canadians are more focussed on their currency exchange rate than are the citizens of most other countries, along with perhaps the Australians and British. This is may be due to the open and trading nature of the Canadian economy and also due to their long border with the USA.

   

CAD News, Forecasts and Trends

Forecasts

Canadian Dollar exchange rates have gained amid Canada's economic outlook and recovering oil prices. Early success in controlling COVID-19 has helped the Canadian economy to rebound as massive government aid boosted consumer spending and low interest rates fueled a surge in the housing market.

Canadian Dollar Forecasts 2021

For more CAD currency market forecasts you can read the full article Canadian Dollar Forecasts.

US Dollar to Canadian Dollar - Historical Rates

USD/CADChangePeriod
1.2621
19 Feb 2021
0.9% ▲1 Week
1.2818
27 Jan 2021
0.6% ▼30 Days
1.2992
28 Nov 2020
2% ▼90 Days
1.3386
27 Feb 2020
4.8% ▼1 Year
1.3524
28 Feb 2016
5.8% ▼5 Years
0.9726
01 Mar 2011
31% ▲10 Years

USD/CAD 10 year historic rates & change to 26-Feb-2021 : 1.2737

 

$10,000 USD
=
C$12,737 CAD

Converted at USD/CAD interbank rate, compare Send Money and Currency Exchange exchange rates.

US Dollar to Canadian Dollar - Quick Convert

USD CAD
$ 1 C$ 1.2737
$ 5 C$ 6.3685
$ 10 C$ 12.74
$ 20 C$ 25.47
$ 50 C$ 63.69
$ 100 C$ 127.37
$ 250 C$ 318.43
$ 500 C$ 636.85
$ 1,000 C$ 1,274
$ 2,000 C$ 2,547
$ 5,000 C$ 6,369
$ 10,000 C$ 12,737
$ 50,000 C$ 63,685
$ 100,000 C$ 127,370
More amounts
USD CAD
$ 0.7851 C$ 1
$ 3.9255 C$ 5
$ 7.8510 C$ 10
$ 15.70 C$ 20
$ 39.26 C$ 50
$ 78.51 C$ 100
$ 196.28 C$ 250
$ 392.55 C$ 500
$ 785.10 C$ 1,000
$ 1,570 C$ 2,000
$ 3,926 C$ 5,000
$ 7,851 C$ 10,000
$ 39,255 C$ 50,000
$ 78,510 C$ 100,000
More amounts
 

Frequently Asked Questions

 

What currency should I use in Canada?

The domestic currency in Canada is the Canadian Dollar.

What is the Canadian Dollar currency code and symbol?

The three letter currency code for the Canadian Dollar is CAD — symbol is C$.

Which countries use the Canadian Dollar?

It is the domestic currency in    Canada.

Is the Canadian Dollar a closed currency?

No, the Canadian Dollar is freely available and convertible. See guide: What is a closed currency?

 

Travel, Currency and Money saving tips for Canada

Accessing ATMs and banks is not a problem in Canada with any major credit card.

Getting around by train is a popular way of travel in Canada as it is a big place. Booking a sleeper car can be comfortable for long distance overnight stretches. VIA Rail Canrailpass gives you 12 days of unlimited rail travel in Canada during a 30-day period, check VIA Rail's website for current prices. Bus travel in Canada is an economic and comfortable way to travel, Canada's system of intercity bus routes spans the entire country. Some cities also offer flexible transit passes so you can have unlimited all-day, multi-day, or monthly travel.

 

Travel money for Canada

Save money and time by Ordering your Canadian Dollars online from Travelex, you get better rates and can pick up the CAD cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in Canadian Dollars otherwise you may get much worst exchange rates.

 

Send Money to Canada - Best Rates

To get a good (and fair) exchange rate when sending money to Canada you need to find and compare exchange rates for International Money Transfers (IMTs).

The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.

You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.


Get a better deal for foreign transfers to Canada

When sending money to Canada it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Canadian Dollar amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted CAD amount will be transfered to the recipient account you specify in Canada.

Use the above Send to Canadian Dollars calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Canadian Dollars deposited into the recipient bank account and less margins and fees kept by the banks!


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