1 Canadian dollar equals Australian dollar
There are three simple steps you need to take in order to get a good CAD-AUD exchange rate:
Know the latest CAD to AUD market mid-rate shown above - this is your starting point!
Compare your Bank's exchange rates to several licensed FX providers, remember to compare both the exchange rate margins as well as the various types of fees.
We make that easy to do with our calculators for
Canadian dollar to Australian dollar (CAD-AUD) - 10 Year History
20 Jun 2018
13 Jun 2018
21 May 2018
22 Dec 2017
20 Jun 2017
20 Jun 2016
21 Jun 2013
22 Jun 2008
The CAD/AUD mid-rate is the rate you will see
Quoted on Google
or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the CAD / AUD was traded (bought or sold) in the international markets.
The closer your final exchange rate is to the market / midrate the better deal you are getting.
2. Transaction Costs - Margins and Fees for CAD/AUD Foreign Exchange
The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
CAD to AUD Foreign Transfer - Costs Compared
You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from CAD to AUD.
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The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.
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Getting a good market rate is mainly about timing however the transaction margin
you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount
you are transferring and if you are willing to shop around.
Why can't I just get the same CAD/AUD market rate I see on Google or in the Media?
When you look up the current Canadian dollar to Australian dollar exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.
Getting a great CAD to AUD mid-market rate is all about timing, so unless you
are able to wait, watch and time the market this is largely beyond your control.
This rate will go up and down with varying amounts of volatility depending on the currency pair.
This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will
get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.
You can use our CAD to AUD currency converter to calculate equivalent amounts in each currency using the latest mid-market exchange rates.
Then choose your transaction type for specific Canadian dollar cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for Canadian dollar and Australian dollar
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency is always determined quoted in comparison to another currency.
So it follows that if you are determining the best time to transact, in this case the CAD vs AUD, you should pay attention to both Canadian dollar and Australian dollar news and forecasts.
Canadian dollar (CAD) - Market news and forecasts
The Canadian dollar was the worst performing G10 currency in the first quarter of 2018 but in the first two months of the second quarter, it bettered all but the US dollar.
In April and May, against USD, CAD weakened marginally to $0.77 from $0.776; but CAD gained handsomely against the euro (and several other currencies), climbing to €0.662 from €0.629 (it had been only €0.619 in mid-March).
In March, TD Securities described CAD as “really expensive…from a global macro level and also from the local level of trade risk.” With the currency’s broad appreciation in the second quarter, presumably, as of writing, it is even more overvalued.
Being a growth-sensitive currency, CAD’s outlook is closely tied to that of global growth, and this is being threatened in 2018 by the trade policies of the US. The powers that be in the world’s largest economy have so far threatened China with massive tariffs and have imposed tariffs on steel and aluminium products sourced globally (Canada may or may not be excluded from this policy, depending on how much ground it gives during NAFTA negotiations – see below). Then, after a month or so of calm, trade tensions resurfaced in May after Washington announced it would be scrutinizing automobile imports.
Vital to CAD’s outlook is NAFTA. The market consensus remains for an 8-10% drop in CAD's value should NAFTA negotiations with the US and Mexico fail.
Supporting CAD in 2018 has been oil, which has climbed to long-term highs.
Australian dollar (AUD) - Market news and forecasts
The Australian dollar could slump more than 10 percent against the US dollar into the "mid-60 cents" region within twelve months, said a senior money manager in June. Given RBA Governor Philip Lowe’s insistence that “there is no strong case for a near-term adjustment in monetary policy,” there is little incentive for investors to hold AUD instead of USD (which will benefit from future Fed hikes), the money manager believes.
A fall to 65 US cents (at 74.4 cents in mid-June ’18) would take AUD back to financial crisis levels last seen in early 2009.
Also pessimistic on the Australian dollar are Westpac and ANZ. Westpac have forecast AUD at 72 US cents in mid-2019 and ANZ have advised clients to “sell the [AUD] rallies.”
Technically, the outlook for AUD/USD remains poor. Longer-term charts show AUD/USD breaking from an upwards trend channel and meaningful psychological support won't be in play until the 70 cents handle.
Against the New Zealand dollar, AUD fell 2 percent in the weeks leading up to this report to N$1.072; however, a bird’s eye view shows AUD/NZD drifting sideways for the past 3 ½ years.
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