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CAD to USD - Rate Guide

Canadian Dollar to United States Dollar exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

CAD/USD update & alerts

1 CAD = 0.7657 USD

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CAD to USD - Trading Range (90 Day)
14-DAY LOW (2d)
CAD/USD at 0.7657 is trading 0.7% above the 90-day average 0.7602 with a range 0.75 to 0.7714. There are no current rate alerts.
19-Jan-2020 16:NY 21:LON 08:SYD+1d

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CAD/USD Exchange Rates and Providers Compared

This guide to the Canadian Dollar to United States Dollar exchange rate with 90-day chart & alerts, historic rates, forecasts and CAD to USD 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/USD Quick Calculator.

Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for CAD/USD International Money Transfers. Costs are calculated against the current interbank mid-rate.

 
  

CAD to USD International Money Transfers

  

Foreign Transfer ProvidersReceive USD(U$)Exchange RateFee CADTotal CostDeal Links
XE logo
U$7,560
Best Overall
0.75601.25%
OFX logo
U$7,595
U$35 more
0.75950^0.8%
HSBC logo
U$7,372.92
U$187 less
0.7384C$153.7%
Coast Capital Savings International Money Transfers
Coast Capital Savings logo
U$7,317.09
U$243 less
0.7391C$1004.43%
Scotiabank logo
U$7,310.16
U$250 less
0.7384C$1004.52%
Banks - Average Rate
Coast Capital Savings logo Scotiabank logo HSBC logo TD Canada Trust logo Royal Bank of Canada logo
U$7,305
U$255 less
0.7366154.58%
TD Canada Trust logo
U$7,291.35
U$269 less
0.7365C$1004.76%
Royal Bank of Canada logo
U$7,234.92
U$325 less
0.7308C$1005.5%
 
XE logo
XE: Foreign Transfer CAD→USD
From Amount (CAD)C$10,000
Fee:
Exchange Rate:0.7560 (1.25% from mid-rate)
To Amount (USD) U$7,560
Total Cost:1.25%
Time:6:06 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 3.5/5.0
Reviews:
 
OFX logo
OFX: Foreign Transfer CAD→USD
From Amount (CAD)C$10,000
Fee:0^ - No fees for BestExchangeRates users (normally $15 for smaller transfers)
Exchange Rate:0.7595 (0.8% from mid-rate)
To Amount (USD) U$7,595
Total Cost:0.8%
Difference:
U$35 USD more than using XE
Time:
Rate Fetched: 6:06 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 
HSBC logo
HSBC: Foreign Transfer CAD→USD
From Amount (CAD)C$10,000
Fee:C$15 CAD (.15%)
Exchange Rate:0.7384 (3.55% from mid-rate)
To Amount (USD) U$7,372.92
Total Cost:3.7%
Difference:
U$187 USD less than using XE
Time:6:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Coast Capital Savings logo
Coast Capital Savings: Foreign Transfer CAD→USD
From Amount (CAD)C$10,000
Fee:C$100 CAD (1%)
Exchange Rate:0.7391 (3.46% from mid-rate)
To Amount (USD) U$7,317.09
Total Cost:4.43%
Difference:
U$243 USD less than using XE
Time:6:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Scotiabank logo
Scotiabank: Foreign Transfer CAD→USD
From Amount (CAD)C$10,000
Fee:C$100 CAD (1%)
Exchange Rate:0.7384 (3.55% from mid-rate)
To Amount (USD) U$7,310.16
Total Cost:4.52%
Difference:
U$250 USD less than using XE
Time:6:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
Foreign Transfer CAD→USD
From Amount (CAD)C$10,000
Fee:15
Exchange Rate:0.7273 (5% from mid-rate)
To Amount (USD) U$7,305
Total Cost:4.58%
Difference:
U$255 USD less than using XE
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 
TD Canada Trust logo
TD Canada Trust: Foreign Transfer CAD→USD
From Amount (CAD)C$10,000
Fee:C$100 CAD (1%)
Exchange Rate:0.7365 (3.8% from mid-rate)
To Amount (USD) U$7,291.35
Total Cost:4.76%
Difference:
U$269 USD less than using XE
Time:6:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Royal Bank of Canada logo
Royal Bank of Canada: Foreign Transfer CAD→USD
From Amount (CAD)C$10,000
Fee:C$100 CAD (1%)
Exchange Rate:0.7308 (4.55% from mid-rate)
To Amount (USD) U$7,234.92
Total Cost:5.5%
Difference:
U$325 USD less than using XE
Time:6:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 01/20/2020 - See full table

Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.

Travel Money ProvidersAmount USD(U$)Exchange RateFee CADTotal CostDeal Links
Banks - Average Rate Foreign Currency
U$663.20
Compare
0.6699C$1013.38%
 
Banks - Average Rate
Travel Money CAD→USD
From Amount (CAD)C$1,000
Fee:C$10 CAD (1%)
Exchange Rate:0.6699 (12.5% from mid-rate)
To Amount (USD) U$663.20
Total Cost:13.38%
Currency Services:Branch
Delivery/Collect:-
 
Snapshot 01/20/2020 - See full table

CADUSD blended flags

CAD and USD in the Markets

When determining the best time to make a foreign exchange transaction, in this case the CAD vs USD, you should pay attention to the recent market trends for both currencies.

Canadian Dollar (CAD)

The threat of proxy war between the US and Iran in Iraq has pared back some of the gains the Loonie had made coming into the New Year.

The Canadian dollar was range bound during the second half of 2019 oscillating between US75c and US76.5c. Mid-year the loonie stormed ahead in June and July, rising to what turned out to be the 2019 high against the US dollar of US76.7cents 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.

The USMCA was signed by the United States, Mexico and Canadian on November 30 at the G20 Summit in Buenos Aires. Any delay to Canadian ratification of the USMCA trade deal would have likely depressed sentiment on Canada’s currency.

For more details read the full article Canadian dollar news and forecasts.

Read more in the article CAD Forecasts.

 

United States Dollar (USD)

The US dollar held its value in 2019 despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others.

At its October meeting the Federal Reserve cut the target range for the federal funds rate to 1.5-1.75 percent, the third rate cut so far this year, amid soft inflation indicators and general worries about the economy. However the central bank also signaled a pause in the easing cycle.

Taking the blame for the economic downturn is US President Donald Trump, whose trade war policies have set a ball rolling that could wipe $455bn from global output according to the IMF.

For more USD bank forecasts and cross-rate trends read the report USD trends and forecasts.

Read more in the article USD Forecasts.

Why can't I just get the CAD/USD 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 / USD 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.

CADUSD blended flags

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.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

We help you Compare & Save Money on Exchange Rates.

 

View all CAD Exchange Rates