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    Bank of Canada Exchange Rates

    The Bank of Canada sets interest rates to attempt to keep inflation low and stable and influence the value of the Canadian dollar to help the economy.

    The Bank of Canada is the Canada’s central bank. Its main role is “to promote the economic and financial welfare of Canada,” as defined in the Bank of Canada Act.

    Through its Monetary policy (the setting interest rates) the Bank of Canada influences the supply of money circulating in the economy and thus the value of the Canadian dollar.

    CAD to USD at 0.8015 has fallen 1.5% below its 90-day average, range 0.7843-0.8308.

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    Best Exchange Rates

    BER compares exchange rates from banks and FX specialists.

    Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.