Before Russia invaded Ukraine the CAD was being supported by expectations of domestic interest rate hikes – and the oil price was a key driver of CAD strength at the start of the year.
Since the start of the Russia/Ukrainian war the risk on-off market are pushing the Canadian dollar rate up and down in a range around 0.7850 to the US dollar (1 USD = 1.27 CAD).
* This table compares FX rates & fees of selected FX specialists and banks for CAD to PHP International Money Transfers. Providers must be well established, reputable and regulated in Canada with FINTRAC. We DO NOT compare every provider in the market. We may receive referral fees if you choose one of these providers however this will not affect the savings, exchange rates or fees you are charged by the provider.
TD Bank Exchange Rates at a glance
TD Bank offer competitive exchange rates on over 50 foreign currencies for travel money and transfers via their online internet banking at at their branches.
As usual non-cash rates for transfers are better than Travel Money (Cash) Rates. This reflects the costs and risks associated with shipping, handling and holding foreign currency in cash.
TD Bank publish their CAD and USD exchange rates here. These Non-Cash rates are available to TD bank clients only and apply to the conversion of paper and electronic instruments such as wire transfers, cheques, drafts, etc.
Exchange rates available for foreign transfers and currency exchange always contain either a rate margin from the Latest CAD to PHP Exchange Rate (shown above) or a transaction fee and often both!
Multi-Vendor Quote
We can help you get an even better deal when sending a Large International Money Transfer.
Click below for the Request Quotes form and enter your transfer details (BER account required).
There are two important ways to save on Foreign Exchange, the first is minimising unnecessary or excessive costs and fees, and the other is to transact when the exchange rate is in your favour.
Reduce Excessive costs and fees
Generally speaking, if you are buying Philippine peso with Canadian dollar, then it's good for the CAD/PHP exchange rate to be higher.
However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).
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.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
Will the Canadian dollar rise against the Philippine peso?
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add CAD/PHP to your BestExchangeRates My Rates Watchlist to track and benefit from currency movements.
Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲DOWN▼HIGH▲LOW▼ alerts over a range of periods over the recent 90 days.
Philippines (PHP)