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        Scotiabank CAD to USD Exchange Rates

        Compare & Save on Scotiabank Canadian dollar to US dollar exchange rates. Latest CAD to US dollar analysis and review of forecasts.

           

        In this CAD to US dollar (CAD/USD) rate guide:

        Scotiabank Rate Calculator - Canadian dollar to US dollar

        Exchange rates can vary significantly between different currency exchange providers, so it's important to compare Canadian dollar (CAD) to US dollar (USD) rates from different sources before making a conversion.

        This Scotiabank exchange rate calculator makes it easy to compare the Total Cost you are being charged on Scotiabank CAD to US dollar currency rates and the possible savings of using various providers.

         

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        Scotiabank at a glance

        Scotiabank is a Canadian multinational bank and a leading financial institution in North and South America. The bank offers a wide range of financial products and services to individuals, businesses, and institutions, including banking, investment, and insurance services.

        One of the financial products offered by Scotiabank is wire transfers. Wire transfers are a secure and fast way to transfer funds between banks in different countries. With Scotiabank wire transfers, you can send money to over 100 countries in a variety of currencies.

        When you get a quote for your Wire Transfer from Scotiabank on their website or in-app, you can also see the Scotiabank exchange rate, but it can be difficult to then calculate how much markup from the market rate you are being charged.

        Our research shows that on average, Scotiabank profit margin for foreign exchange rates is somewhere between 3 - 8%, depending on the amount you're sending, where you're sending it to and which currency will be received.

        While all banks in Canada charge this markup, the extra amount being charged is much higher than it would be with a global money transfer specialist.

         
           

        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).

        Request Quotes

        Save time and money - fewer websites to visit and you get a much better exchange rate & service.

         

        CAD to USD Market Data

        Canadian dollar (CAD) to US dollar (USD) market data - latest interbank mid-rate, trend, chart & historic rates.

         
        1 CAD =
        0.7357We compare provider deals to this wholesale mid-market rate. Read more
        USD
        CAD to USD at 0.7357 is near its 3-month average, having traded in a very stable 3.9% range from 0.7215 to 0.7496
        |
        Sell CAD   →   Buy USD
        Track Rate
          1 USD = 1.3593 CAD
         no alerts
         
        DateCAD/USDChangePeriod
        15 May 2023
        0.7426
        		1% ▼2 Week
        28 Feb 2023
        0.7328
        		0.4% ▲3 Month
        29 May 2022
        0.7857
        		6.4% ▼1 Year
        30 May 2018
        0.7755
        		5.2% ▼5 Year
        31 May 2013
        0.9662
        		23.9% ▼10 Year
        03 Jun 2003
        0.7306
        		0.7% ▲20 Year
        CAD/USD historic rates & change to 29-May-2023

        What are CAD to USD forecasts?

        The Canadian Dollar (CAD) has experienced mixed movement recently, regaining ground as oil prices rise. The bounce back in CAD can be attributed to the stronger oil prices and the US Dollar (USD) recovery. With limited Canadian economic data available, the currency's trading relationships with the USD and oil prices are expected to continue driving its movement. On the other hand, the US Dollar has rallied after a recent uptick in the core PCE price index, the Federal Reserve's preferred measure of inflation. As a result, fresh bets on a Fed rate hike have strengthened the USD. However, a forecasted drop in consumer confidence could potentially pull the USD lower.

        Read our full analysis of CAD to USD forecasts.

         
        CAD to USD flags

        How to get a good CAD to USD exchange rate

        There are several ways to save on exchange rates when converting Canadian dollar to US dollar:

        1. 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.
        2. 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.
        3. 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.
        4. 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.
        5. 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.

        The key is reducing excessive costs and fees

        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.

        Will the Canadian dollar rise against the US dollar?

        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.

         
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        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.

        Read our Currency guide to the United States - a practical currency and money guide to travel, living and doing business in the United States with the US dollar.

         
         
         

        Canadian dollar & US dollar - Country Guides

        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)
           
         
         
         

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        Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more

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