Compare & Save on Canadian dollar to US dollar exchange rates. Latest CAD to dollar trends and forecasts.
In this CAD to dollar rate guide:
Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
The below table makes it easy to calculate and compare the Total Cost you are being charged on CAD to dollar currency rates and the possible savings of using a different provider.
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Canadian dollar to US dollar FX market data and key indicators - Interbank rate, charts, forecasts & historic rates and trends.
In December the loonie has steadied near its 90-day average around 0.74 relative to the greenback (1 USD = 1.34 CAD), this is down from the 0.77-0.79 range it had traded within all year until late August on inflation concerns.
| Date | CAD/USD | Change | Period |
|---|---|---|---|
17 Jan 2023 | 0.7467 | 0.6% ▲ | 2 Week |
02 Nov 2022 | 0.7291 | 3.1% ▲ | 3 Month |
31 Jan 2022 | 0.7863 | 4.4% ▼ | 1 Year |
01 Feb 2018 | 0.8157 | 7.9% ▼ | 5 Year |
02 Feb 2013 | 1.0028 | 25.1% ▼ | 10 Year |
05 Feb 2003 | 0.6586 | 14.1% ▲ | 20 Year |
There are several ways to save on exchange rates when converting Canadian dollar to US dollar:
Shop around for the best CAD/USD exchange rate: Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
Timing is important: Keep an eye on the CAD/USD rate on currency markets, as exchange rates can fluctuate frequently. Try to make your transactions when the exchange rate is in your favor. You can do this easily with our BER Smart Rate Tracker.
Use a credit/debit or travel card that doesn't charge foreign transaction fees: Some credit cards charge additional fees for transactions made in a foreign currency, so it's important to check with your card issuer to see if they charge these fees and what their exchange rate is.
Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both CAD and USD at close to the interbank rate. It also allows you to make payments or withdrawals in the local currency while avoiding high conversion fees.
Buy currency in advance: If you know that you will need foreign currency in the future, consider buying it in advance when the exchange rate is favorable.
Generally speaking, if you are buying US dollar with Canadian dollar, then it's better for the CAD/USD 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.
It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.
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/USD to your personalised BER Smart Rate Tracker to track and benefit from currency movements.
Rather than requiring you to set a target rate, our FX Alerts work differently. 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.
You can also read our practical guide to getting the Best Deals for your Foreign Transfers and Travel Money to the United States.
 United States (USD) |  Canada (CAD) |  East Timor (USD) |
 Ecuador (USD) |  El Salvador (USD) |  British Virgin Islands (USD) |
 US Virgin Islands (USD) |  Caribbean Netherlands (USD) |  Turks and Caicos Islands (USD) |
Setting up a business in the US as a foreigner is generally the same process as setting up a business as a US citizen. However, there may be additional legal requirements and regulations that apply to foreign nationals. It is advisable to consult with a lawyer who specializes in immigration and business law to ensure compliance with all relevant laws and regulations. Additionally, obtaining a valid work visa may be necessary in order to work in the US as a foreigner. It's important to research the specific requirements for the type of business you plan to start and the state where you plan to set it up.
Read more at our United States (USD) country guide
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