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Understanding the Table:
The comparison table above helps you see the total cost of your Scotiabank currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
The average CAD rate margin offered by Scotiabank is 3.8%.
This average is based on individual CAD 10K transfer rates in the currency pairs from Scotiabank that we monitor.
The tables below show the best and worst exchange rate margins offered by Scotiabank for Canadian dollar (CAD 10K) transactions. Margins show the percentage difference from the mid-market rate.
Canadian dollar (CAD) to US dollar (USD) market data - latest interbank exchange rate, trend, chart & historic rates.
CAD/USD Outlook: The Canadian dollar is likely to increase, as it is trading significantly above its recent average and near recent highs, supported by rising oil prices.
CAD/EUR Outlook: Slightly positive, but likely to move sideways as the rate hovers around its 90-day average and is impacted by mixed drivers.
CAD/JPY Outlook: Slightly positive, but likely to move sideways, given its position just above the 90-day average and within the mid-range of its recent trading.
To help you understand the real-world value of the current exchange rate, the table below shows how much Canadian dollar are worth in US dollar across a range of amounts.
This gives a quick view of what you’d get when converting different CAD amounts at today’s rate * :
*Converted at the current CAD-USD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The Scotiabank CAD to USD exchange rate is 0.7198. This is -2.6% compared to the latest CAD-USD mid-market rate 0.7390.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Canadian dollar (CAD) to US dollar (USD) rates from different sources before making a conversion.
The above Scotiabank - Loonie to Dollar comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Scotiabank and other foreign exchange providers against the latest CAD-USD mid-rate and the possible savings of using various providers.
Looking at the full CAD to USD - Send Money comparison table the provider with the best CAD to USD exchange rate is OFX at 0.7353, -0.5% from the latest mid-market rate 0.7390.
The next best is XE at 0.7346, -0.6% from the mid-rate.
Then Wise at 0.7335, which is -0.74% from the mid-rate.
The Western Union rate is 0.7316 which is -1% from the mid-rate.
Among the banks the TD Bank rate is 0.6749 at -8.7% the Scotiabank rate is 0.7198 at -2.6% and the Royal Bank of Canada rate is 0.7232 at -2.1% compared to the mid-rate 0.7390.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like Scotiabank often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
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