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Foreign Exchange Guide to Canada

This currency guide to Canada helps you choose the best way to save money on USD transfers and travel money.    [CAD/USD=0.7613]

 
Canada
Country Code:
CA
Domestic Currency:
Canadian Dollar
Symbol - Code:
C$ CAD
Telephone Prefix:
+1

This is a foreign exchange guide to Canada, the Canadian Dollar currency plus sending CAD transfers and travel tips.


In this Canada currency guide we take a look at :

  1. Canadian Dollar info - general info about the Canadian Dollar
  2. Canadian Dollar in the markets - recent CAD moves and predictions from the FX markets
  3. Travelling in Canada - currency & money saving tips
  4. Buying Canadian Dollar cash online - travel money for Canada
  5. Sending money to Canada - save on Canadian Dollar bank transfers to Canada
  6. Canadian Dollar exchange rates - latest & historic exchange rates.
  7. CAD News - the latest Canadian Dollar related articles from our blog.

Canadian Dollar (CAD) general currency information


What is the Canadian Dollar currency code and symbol?

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


Which countries use the Canadian Dollar?

It is the domestic currency in Canada.

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.


Canadian Dollar (CAD) in the markets

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 Forecasts.

The interactive chart below shows the CAD to USD exchange rate and trend for the previous 3 months:

At 0.7613 CAD/USD is trading above its 90 day average 0.7552 with period range 0.7484 to 0.7622. There are currently no alerts. Updated: 09:31-AEDT 23:31-BST 18:31-EDT

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 Dollar 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 Dollar otherwise you may get much worst exchange rates.

   

Canada Trip Checklist    

 
  1. Compare CAD travel cash rates - probably why you are here!
  2. Search Hotel deals - Save on your accomodation in Canada
  3. Lonely Planet - world's best travel guide (coupon and deals)

Sending money to Canada

When searching around for information on how to get a good exchange rate when sending money to Canada you need to start with finding out the latest Canadian Dollar foreign-transfer exchange rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).


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 our Send to CAD 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 Dollar deposited into the recipient bank account and less margins and fees kept by the banks!

   

Bank Transfers to Canada

Compare Transfer Rates

 

CAD/USD - Canadian Dollar to United States Dollar - Historical Rates

PeriodChange*CAD/USDDate
1 Day+0.1%0.761217 Oct 2019
7 Day+0.6%0.757511 Oct 2019
30 Day+1.3%0.751918 Sep 2019
3 Month-0.5%0.765620 Jul 2019
1 Year-0.4%0.764618 Oct 2018
5 Year-14%0.885919 Oct 2014
10 Year-20.5%0.958620 Oct 2009

*For period to 18-Oct 21UTC when CAD/USD was 0.7618

CAD/EUR - Canadian Dollar to Euro - Historical Rates

PeriodChange*CAD/EURDate
1 Day-0.3%0.684317 Oct 2019
7 Day-0.6%0.686211 Oct 2019
30 Day0%0.681718 Sep 2019
3 Month0%0.681920 Jul 2019
1 Year+2.2%0.667518 Oct 2018
5 Year-1.9%0.695019 Oct 2014
10 Year+6.2%0.642220 Oct 2009

*For period to 18-Oct 21UTC when CAD/EUR was 0.6820

CAD/GBP - Canadian Dollar to British Pound Sterling - 10 Year History

PeriodChange*CAD/GBPDate
1 Day-0.8%0.591717 Oct 2019
7 Day-2%0.599111 Oct 2019
30 Day-2.7%0.603018 Sep 2019
3 Month-4.2%0.612420 Jul 2019
1 Year-0.1%0.587318 Oct 2018
5 Year+6.6%0.550619 Oct 2014
10 Year+0.3%0.584920 Oct 2009

*For period to 18-Oct 21UTC when CAD/GBP was 0.5869

CAD/AUD - Canadian Dollar to Australian Dollar - Historical Rates

PeriodChange*CAD/AUDDate
1 Day-0.4%1.115417 Oct 2019
7 Day-0.3%1.115211 Oct 2019
30 Day+0.9%1.102018 Sep 2019
3 Month+2.2%1.087320 Jul 2019
1 Year+3.1%1.077518 Oct 2018
5 Year+9.9%1.011519 Oct 2014
10 Year+7.1%1.037720 Oct 2009

*For period to 18-Oct 21UTC when CAD/AUD was 1.1114

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