CAD/BRL update & alerts
1 CAD = 3.1242 BRL
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CAD/BRL Exchange Rates and Providers Compared
This guide to the Canadian Dollar to Brazilian Real exchange rate with 90-day chart & alerts, historic rates, forecasts and CAD to BRL comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. If you want to calculate equivalent amounts in foreign currencies or rate margins then use our CAD/BRL Quick Calculator.
CAD and BRL in the Markets
When determining the best time to make a foreign exchange transaction, in this case the CAD vs BRL, you should pay attention to the recent market trends for both currencies.
Canadian Dollar (CAD)
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.
Read more in the article CAD Forecasts.
Brazilian Real (BRL)
In late May, the real rallied away from 7-month lows against the dollar and euro. It remains, however, 21 percent and 13 percent lower than early 2018 levels against those currencies.
One of the most accurate currency forecasters of the past year (per Bloomberg rankings), Commerzbank’s You-Na Park, is optimistic about the real. He sees the currency's value rising 10 percent before year-end, from 3.98 per USD at the time of writing to 3.6, although he says that strength is dependent upon government pension reforms being passed (likely in the second half of this year).
Why can't I just get the CAD/BRL market rate I see online or in the media?
The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the CAD / BRL was traded (bought or sold) in the international markets.
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.
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.
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