What's in this EUR to CAD exchange rate review?
Euro to Canadian Dollar - Quick Conversions
|€ 1||C$ 1.5780|
|€ 5||C$ 7.8900|
|€ 10||C$ 15.78|
|€ 20||C$ 31.56|
|€ 50||C$ 78.90|
|€ 100||C$ 157.80|
|€ 250||C$ 394.50|
|€ 500||C$ 789.00|
|€ 1,000||C$ 1,578|
|€ 2,000||C$ 3,156|
|€ 5,000||C$ 7,890|
|€ 10,000||C$ 15,780|
|€ 50,000||C$ 78,900|
|€ 100,000||C$ 157,800|
To calculate other EUR/CAD amounts try our home-page Convert EUR to CAD quick converter.
Comparing Retail Exchange Rates
The total cost for 'Retail' exchange rates you receive from your bank or foreign exchange provider consists of the margin from the 'Wholesale' rate (interbank mid-rate) plus any fixed or percentage fees.
These margins and fees can vary significantly for International Money Transfers, Travel Money and prepaid multi-currency Travel Card transactions. Also the exchange rate margin will also vary depending on the currency pair and total amount.
Canadian Dollar (CAD) Country Guides
Euro and Canadian Dollar Forecasts
When determining the best time to make a foreign exchange transaction, in this case the EUR vs CAD, you should pay attention to the recent market trends for both currencies.
The euro is currently a more appealing investment than the US dollar as fiscal support and COVID-19 containment open the door to a faster paced recovery than what is likely in the US. With current USD weakness and strong long-term prospects for the European Union, there is speculation that the euro could be a contender as the world’s new reserve currency. In the short term the euro could be susceptible to swings, however in the longterm the euro has very good prospects. The currency is poised to move above 1.1850 and extend toward 1.20 in coming weeks.
In mid-July euro strengthened four-month highs (around 1.15 against the US dollar) as european leaders delivered a difficult agreement on a coronavirus rescue package to help member states manage the economic downturn. The historic stimulus package will see the bloc issue 750 billion euros (US$860 billion) of joint debt and is seen by market commentators as positive for the euro.
The Euro spent 2019 on a downwards trajectory, starting the year with highs at US1.1550 but then slid all year until October where it bottomed out at US$1.09 on Oct 1, close to long-term lows. Since then it has climbed back over the 1 year average of US1.11 towards US1.15.
Read more in the article EUR Forecasts.
Canadian Dollar (CAD)
The combination of an eroded US interest yield advantage, a broadly positive riskon mood and renewed euro demand, could be a catalyst to push the Canadian dollar along. The combination of an eroded US interest yield advantage, a broadly positive riskon mood and renewed euro demand, could be a catalyst to push the Canadian dollar along.
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.
Read more in the article CAD Forecasts.
How to get Best EUR to CAD Exchange Rates
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).
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.
What is a good EUR to CAD exchange rate?
This is always a difficult question as exchange rates are influenced by many factors, so a good method to consider the Euro vs Canadian Dollar current value is to look the EUR/CAD historic rate and change over a range of periods.
The following table looks at the change in the EUR to CAD exchange rate over periods from the previous week back to the last 10 years.
|31 Jul 2020 : 1.5797||0.1% ▼||1 Week|
|08 Jul 2020 : 1.5327||2.9% ▲||30 Days|
|09 May 2020 : 1.5378||2.6% ▲||90 Days|
|08 Aug 2019 : 1.4799||6.6% ▲||1 Year|
|09 Aug 2015 : 1.4404||9.5% ▲||5 Years|
|10 Aug 2010 : 1.3589||16.1% ▲||10 Years|
When is the best time to exchange EUR to CAD?
Getting a good market rate is all about timing to help with this you can use BER Smart Alerts to make the most of currency movements.
Rather than requiring you to set a target rate, our rate alerts work differently. We check for daily high/lows and changes (up/down) over a range of periods up to 90 days rather than requiring you to set target rates.