When you are thinking about sending money abroad, an international money transfer provider is a great option. They can help you with the whole process, provide useful online tools and most importantly bank-beating exchange rates and low or zero fees.
| Foreign Transfer Providers Ratings & Reviews | Receive CAD($) | Exchange Rate | Fee HKD | Total Cost | Transfer Services | Transfer Speed | Deal Links |
|---|---|---|---|---|---|---|---|
 Great rates and platform for personal, business and online sellers. Get local currency accounts in GBP, EUR, CAD, USD, AUD, NZD, JPY and CNY. More▾ | 8,400 CAD | 0.168 | 0 | 0.41% | Bank Transfers - Online & Phone | 1-2 days | |
 OFX exchange rates are highly competitive for global money transfers, great customer service. ^Zero transfer fees for BestExchangeRates customers. More▾ | 8,270 CAD | 0.1654 | 0 for BER users (normally $60) | 1.96% | Bank Transfers - Online & Phone | 1-2 days | |
Banks - Average Rate    Average rate from these selected Banks. Click icons to see each bank's individual rate and fee. More▾ | 8,096 CAD | 0.1621 | 55 | 4.02% | Online, Branch, Bank Transfers | 2-3 days |
This is the current HKD-CAD mid-market exchange rate. The Total Cost of each foreign transfer in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market HKD-CAD exchange rate.
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency must always be quoted in comparison to a second currency.
So it follows that if you are determining the best time to transact, in this case the HKD vs CAD, you should pay attention to both Hong Kong Dollar and Canadian Dollar news and forecasts.
27-January-19: 2018 was a reasonable year for the Hong Kong dollar. Against a basket of major currencies, HKD appreciated by 4 percent, which was much better than a near-10 percent loss in 2017. It was, though, something of a stuttering end to 2018 and HKD has had mixed fortunes in early 2019.
As is well known, HKD follows, to a large extent, developments in US monetary policy. In December, after lifting US interest rates, the Fed lowered its expectations for future hikes due to so-called “cross currents” (China, Brexit, trade wars etc.). Skepticism among analysts over future Fed hikes has for some time been the main reason for HKD pessimism for 2019, but now, there is also the prospect of a US economic slowdown to contend with.
“A slowdown in the US economy is likely to weigh on USD [and therefore HKD] in the second half of this year,” a CIBC researcher said in January.
Of the same opinion was an expert at ING, who argued that USD, and therefore HKD, would soon “embark on a gradual long-term bearish trend.”
7-February-19: January was a fantastic month for the Canadian dollar. A gain of 4 percent relative to the US dollar took USD/CAD away from 19-month highs near C$1.365 into the low C$1.31s.
A recovery in the oil market has played a big part in the loonie’s 2019 recovery. By the time of this report, oil had gained nearly $12 per barrel, or 23 percent, on 2018 lows. The price of oil remains vital to Canada’s economy; it had fallen by as much as 40 percent in the October-December period.
Going forward, risks to the Canadian dollar include, of course, oil, and the return of global trade tensions.
Towards the end of 2018, Goldman Sachs predicted a strong energy market rebound in 2019 — more so than has already been realised — and this would underpin Canada’s currency.
In February, Westpac reaffirmed its view that the Canadian dollar would be an outperformer in 2019. Canada’s growth picture is more secure than those of the eurozone, UK or Australia, Westpac believes, and as a result, the Bank of Canada will be more hawkish this year relative to other G10 central banks, driving CAD appreciation.
