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USD to CAD - Rate Guide

United States Dollar to Canadian Dollar exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

USD/CAD update & alerts

1 USD = 1.3066 CAD

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USD to CAD - Trading Range (90 Day)
ALERT: 14-DAY HIGHS 🔔 |
USD/CAD at 1.3068 is trading 0.7% below the 90-day average 1.3158 with a range 1.2963 to 1.3334. ALERT: USD/CAD has risen to 14-DAY HIGHS.
17-Jan-2020 16:NY 21:LON 08:SYD+1d

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USD/CAD Exchange Rates and Providers Compared

This guide to the United States Dollar to Canadian Dollar exchange rate with 90-day chart & alerts, historic rates, forecasts and USD to CAD comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. If you want to calculate equivalent amounts in foreign currencies or rate margins then use our USD/CAD Quick Calculator.

Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for USD/CAD International Money Transfers. Costs are calculated against the current interbank mid-rate.

 
  

USD to CAD International Money Transfers

  

Foreign Transfer ProvidersReceive CAD(C$)Exchange RateFee USDTotal CostDeal Links
OFX logo
C$12,961
Best Overall
1.29610^0.8%
XE logo
C$12,903
C$58 less
1.290301.25%
Wells Fargo Bank logo
C$12,514
C$447 less
1.2537184.22%
HSBC logo
C$12,505
C$456 less
1.2524U$154.29%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
C$12,429
C$532 less
1.2502154.88%
Bank of America International Money Transfers
Bank of America logo
C$12,348
C$613 less
1.2473U$1005.5%
U.S. Bank International Money Transfers
U.S. Bank logo
C$12,348
C$613 less
1.2473U$1005.5%
 
OFX logo
OFX: Foreign Transfer USD→CAD
From Amount (USD)U$10,000
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:1.2961 (0.8% from mid-rate)
To Amount (CAD) C$12,961
Total Cost:0.8%
Time:
Rate Fetched: 18:03 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 
XE logo
XE: Foreign Transfer USD→CAD
From Amount (USD)U$10,000
Fee:
Exchange Rate:1.2903 (1.25% from mid-rate)
To Amount (CAD) C$12,903
Total Cost:1.25%
Difference:
C$58 CAD less than using OFX
Time:18:03 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 3.5/5.0
Reviews:
 
Wells Fargo Bank logo
Wells Fargo Bank: Foreign Transfer USD→CAD
From Amount (USD)U$10,000
Fee:18
Exchange Rate:1.2537 (4.05% from mid-rate)
To Amount (CAD) C$12,514
Total Cost:4.22%
Difference:
C$447 CAD less than using OFX
Time:18:03 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
HSBC logo
HSBC: Foreign Transfer USD→CAD
From Amount (USD)U$10,000
Fee:U$15 USD (.15%)
Exchange Rate:1.2524 (4.15% from mid-rate)
To Amount (CAD) C$12,505
Total Cost:4.29%
Difference:
C$456 CAD less than using OFX
Time:18:03 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
Foreign Transfer USD→CAD
From Amount (USD)U$10,000
Fee:15
Exchange Rate:1.2448 (4.73% from mid-rate)
To Amount (CAD) C$12,429
Total Cost:4.88%
Difference:
C$532 CAD less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 
Bank of America logo
Bank of America: Foreign Transfer USD→CAD
From Amount (USD)U$10,000
Fee:U$100 USD (1%)
Exchange Rate:1.2473 (4.54% from mid-rate)
To Amount (CAD) C$12,348
Total Cost:5.5%
Difference:
C$613 CAD less than using OFX
Time:18:03 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
U.S. Bank logo
U.S. Bank: Foreign Transfer USD→CAD
From Amount (USD)U$10,000
Fee:U$100 USD (1%)
Exchange Rate:1.2473 (4.54% from mid-rate)
To Amount (CAD) C$12,348
Total Cost:5.5%
Difference:
C$613 CAD less than using OFX
Time:18:03 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 01/19/2020 - See full table

Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.

Travel Money ProvidersAmount CAD(C$)Exchange RateFee USDTotal CostDeal Links
Banks - Average Rate Foreign Currency
C$1,131.87
Compare
1.1433U$1013.37%
 
Banks - Average Rate
Travel Money USD→CAD
From Amount (USD)U$1,000
Fee:U$10 USD (1%)
Exchange Rate:1.1433 (12.5% from mid-rate)
To Amount (CAD) C$1,131.87
Total Cost:13.37%
Currency Services:Branch
Delivery/Collect:-
 
Snapshot 01/19/2020 - See full table

USDCAD blended flags

USD and CAD in the Markets

When determining the best time to make a foreign exchange transaction, in this case the USD vs CAD, you should pay attention to the recent market trends for both currencies.

United States Dollar (USD)

The US dollar held its value in 2019 despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others.

At its October meeting the Federal Reserve cut the target range for the federal funds rate to 1.5-1.75 percent, the third rate cut so far this year, amid soft inflation indicators and general worries about the economy. However the central bank also signaled a pause in the easing cycle.

Taking the blame for the economic downturn is US President Donald Trump, whose trade war policies have set a ball rolling that could wipe $455bn from global output according to the IMF.

For more USD bank forecasts and cross-rate trends read the report USD trends and forecasts.

Read more in the article USD Forecasts.

 

Canadian Dollar (CAD)

The threat of proxy war between the US and Iran in Iraq has pared back some of the gains the Loonie had made coming into the New Year.

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.

The USMCA was signed by the United States, Mexico and Canadian on November 30 at the G20 Summit in Buenos Aires. Any delay to Canadian ratification of the USMCA trade deal would have likely depressed sentiment on Canada’s currency.

For more details read the full article Canadian dollar news and forecasts.

Read more in the article CAD Forecasts.

Why can't I just get the USD/CAD market rate I see online or in the media?

The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the USD / CAD was traded (bought or sold) in the international markets.

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). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.

USDCAD blended flags

Getting a good market rate is mainly about timing however 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.

We help you Compare & Save Money on Exchange Rates.

 

View all USD Exchange Rates