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CAD/USD - Convert Compare Save

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.

 

This resource page for the Canadian Dollar to United States Dollar exchange rate, has news, forecasts and CAD to USD comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with our Exchange Rate Checker.

CAD/USD Exchange Rates - How to Compare & Save

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($)Exchange RateFee CADTotal CostDeal Links
OFX logo
7,451 USD
Best Overall
0.74510^0.8%
XE logo
7,417 USD
34 USD
0.741701.25%
HSBC logo
7,215.16 USD
236 USD
0.7226C$153.94%
Coast Capital Savings International Money Transfers
Coast Capital Savings logo
7,160.67 USD
290 USD
0.7233C$1004.66%
Scotiabank logo
7,153.74 USD
297 USD
0.7226C$1004.76%
TD Canada Trust logo
7,153.74 USD
297 USD
0.7226C$1004.76%
Banks - Average Rate
Coast Capital Savings logo Scotiabank logo Royal Bank of Canada logo HSBC logo TD Canada Trust logo
7,153 USD
298 USD
0.7213154.77%
Royal Bank of Canada logo
7,080.48 USD
371 USD
0.7152C$1005.73%
 
OFX: Foreign Transfer CAD→USD
CAD amount:$10,000 CAD
Fee:0^ - No fees for BestExchangeRates users (normally $15 for smaller transfers)
Exchange Rate:0.7451 (0.8% from mid-rate)
USD amount:7,451 USD
Total Cost:0.8%
Time:
Rate Fetched: 6:02 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 
XE: Foreign Transfer CAD→USD
CAD amount:$10,000 CAD
Fee:
Exchange Rate:0.7417 (1.25% from mid-rate)
USD amount:7,417 USD
Total Cost:1.25%
Difference:
34 USD less than using OFX
Time:6:02 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 3.5/5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer CAD→USD
CAD amount:$10,000 CAD
Fee:C$15 CAD (.15%)
Exchange Rate:0.7226 (3.79% from mid-rate)
USD amount:7,215.16 USD
Total Cost:3.94%
Difference:
236 USD less than using OFX
Time:6:02 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Coast Capital Savings logoCoast Capital Savings

Coast Capital Savings: Foreign Transfer CAD→USD
CAD amount:$10,000 CAD
Fee:C$100 CAD (1%)
Exchange Rate:0.7233 (3.7% from mid-rate)
USD amount:7,160.67 USD
Total Cost:4.66%
Difference:
290 USD less than using OFX
Time:6:02 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Scotiabank logoScotiabank

Scotiabank: Foreign Transfer CAD→USD
CAD amount:$10,000 CAD
Fee:C$100 CAD (1%)
Exchange Rate:0.7226 (3.79% from mid-rate)
USD amount:7,153.74 USD
Total Cost:4.76%
Difference:
297 USD less than using OFX
Time:6:02 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

TD Canada Trust logoTD Canada Trust

TD Canada Trust: Foreign Transfer CAD→USD
CAD amount:$10,000 CAD
Fee:C$100 CAD (1%)
Exchange Rate:0.7226 (3.79% from mid-rate)
USD amount:7,153.74 USD
Total Cost:4.76%
Difference:
297 USD less than using OFX
Time:6:02 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer CAD→USD
CAD amount:$10,000 CAD
Fee:15
Exchange Rate:0.7135 (5.01% from mid-rate)
USD amount:7,153 USD
Total Cost:4.77%
Difference:
298 USD less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Royal Bank of Canada logoRoyal Bank of Canada

Royal Bank of Canada: Foreign Transfer CAD→USD
CAD amount:$10,000 CAD
Fee:C$100 CAD (1%)
Exchange Rate:0.7152 (4.78% from mid-rate)
USD amount:7,080.48 USD
Total Cost:5.73%
Difference:
371 USD less than using OFX
Time:6:02 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 08/25/2019 - 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($)Exchange RateFee CADTotal CostDeal Links
Travelex Online CA logo
724.80 USD
Best Overall
0.7248$03.5%
Royal Bank of Canada logo
708.90 USD
16 USD
0.708905.62%
TD Canada Trust logo
701.60 USD
23 USD
0.701606.59%
Banks - Average Rate
Scotiabank logo Royal Bank of Canada logo TD Canada Trust logo
699.85 USD
25 USD
0.7045C$106.82%
Scotiabank logo
689.04 USD
36 USD
0.7031C$208.26%
Travelex Online CA: Travel Money CAD→USD
CAD amount:$1,000 CAD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:0.7248 (3.5% from mid-rate)
USD amount:724.80 USD
Total Cost:3.5%
Time:
Rate Fetched: 6:02 Local
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 

Royal Bank of Canada logoRoyal Bank of Canada

Royal Bank of Canada: Travel Money CAD→USD
CAD amount:$1,000 CAD
Fee:
Exchange Rate:0.7089 (5.62% from mid-rate)
USD amount:708.90 USD
Total Cost:5.62%
Time:6:02 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 

TD Canada Trust logoTD Canada Trust

TD Canada Trust: Travel Money CAD→USD
CAD amount:$1,000 CAD
Fee:
Exchange Rate:0.7016 (6.59% from mid-rate)
USD amount:701.60 USD
Total Cost:6.59%
Time:6:02 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money CAD→USD
CAD amount:$1,000 CAD
Fee:C$10 CAD (1%)
Exchange Rate:0.6572 (12.5% from mid-rate)
USD amount:699.85 USD
Total Cost:6.82%
Currency Services:Branch
Delivery/Collect:-
 

Scotiabank logoScotiabank

Scotiabank: Travel Money CAD→USD
CAD amount:$1,000 CAD
Fee:C$20 CAD (Minimum fee)
Exchange Rate:0.7031 (6.39% from mid-rate)
USD amount:689.04 USD
Total Cost:8.26%
Time:6:02 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
Snapshot 08/25/2019 - See full table

CAD to USD interbank exchange rate = 0.7501

 
 

Exchange Rate Checker

If you have been offered/charged an exchange rate then enter it below to check the true cost to the latest interbank mid-rate.

 
   

Compare savings on CAD/USD exchange rates

Foreign Transfers Travel Money

Foreign Transfers Travel Money

   

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 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.

 

United States Dollar (USD)

The US dollar has held its value this year despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others. After grim employment data on June-7, the Dollar Index was up 0.5 percent on the year (it had fallen 2 percent from May’s 2-year high).

As in other parts of the world, interest rate cuts are now expected in the US following a drastic shift in economic forecasts. At least two Fed cuts are expected this year, with the first most likely to come in July.

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

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