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  1. Exchange Rates
  2. U.S. dollar (USD)
  3. Canadian dollar (CAD)

Convert USD to CAD at Best Exchange Rates

Use this two-way calculator and chart to calculate amounts in either U.S. dollar or 1000 using the real-time USD/CAD market mid-rate. Then choose your transaction type Foreign Transfer Travel Money to see the available exchange rates and reviews for our leading foreign exchange providers.

USD to CAD mid-rate calculator

$
$
1 USD equals
CAD 1USD=CAD


Compare rates for: Foreign Transfers    Travel Money

Loading USD/CAD Chart

There are three important types of information that you need to know if you are to have any chance of getting the best possible USD / CAD rate :

  1. Market USD to CAD mid-rate - the starting point.
  2. Transaction costs, these include exchange rate margins plus various types of fees. These margin and fee costs vary for Foreign Transfers and Travel Money transactions.
  3. Up-to-date Currency News, Research and Forecasts for U.S. dollar and Canadian dollar.

1. Market USD/CAD mid-rate

Right now the USD/CAD market rate is and represents how many Canadian dollar you can get for one U.S. dollar.

You can calculate with the current mid-rate using our USD to CAD calculator below but note the rate will most likely be quite different by the time you make you currency exchange.

1 U.S. dollar equals
Canadian dollar 1=

The mid-rate is the rate you will see Quoted on Google or the News, nobody except the largest banks can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between the last rate at which the USD / CAD was traded (bought or sold) in the international markets.


2. Transaction Costs - Margins and Fees for USD/CAD Foreign Exchange

The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.

USD to CAD Foreign Transfer - Costs Compared

You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from USD to CAD.

Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote

Compare Foreign Transfers

Sending USD 10,000 to CAD

 OFX (prev. USForex)
1USD=1.2492CAD
$12,492 CAD (2.18%)
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
Price Details
Receive: $12,492 CAD
Exchange Rate: 1.2492
(Inverse 1CAD=USD 0.8005)
Fees: USD 0
Total Cost : 2.18% (from mid-rate: 1.2771)
This is the amount of money that could be received by your transfer at rate USD/CAD=1.2492 and inclusive of the fee of USD 0.
Rate timestamp : Sat Apr 21 2018 01:03:20 GMT+0000 (UTC)
Bank Rates - Average
1USD=1.2155CAD
$12,137 CAD (4.96%)
This is the average USD to CAD International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.

 
Price Details
Receive: $12,137 CAD
Exchange Rate: 1.2155
(Inverse 1CAD=USD 0.8227)
Fees: USD 15
Total Cost : 4.96% (from mid-rate: 1.2771)
Receive CAD $355 less than with   OFX
This is the amount of money that could be received by your transfer at rate USD/CAD=1.2155 and inclusive of the fee of USD 15.

Travel Money USD to CAD - Costs Compared

The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.

Travel Money Exchange Rates Compared

Buying CAD Cash with USD 1,000

 Travelex Online
1USD=1.1251CAD
$1125.10 CAD (11.9%)
Free Home Delivery when you Buy Online Travel Money & Cards with $0 commission and great exchange rates only available from Travelex Online. Zero cost for Home Delivery or pickup your foreign cash at your local Travelex store or at the airport on departure day. * Home deliveries can only be made to the registered billing address of your chosen payment method.
Price Details
Receive: $1125.10 CAD
Exchange Rate: 1.1251
(Inverse 1CAD=USD 0.8888)
Fees: USD 0
Total Cost : 11.9% (from mid-rate: 1.2771)
Amount of money that could be received by your currency exchange at rate USD/CAD=1.1251 and inclusive of the fee of USD 0.
Rate timestamp : Sat Apr 21 2018 01:00:03 GMT+0000 (UTC)
Bank Rates - Average
1USD=1.1175CAD
$1106.33 CAD (13.37%)
This is the average USD to CAD Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.

 
Price Details
Receive: $1106.33 CAD
Exchange Rate: 1.1175
(Inverse 1CAD=USD 0.8949)
Fees: USD 10 (1%)
Total Cost : 13.37% (from mid-rate: 1.2771)
Receive CAD $19 less than with   Travelex Online
Amount of money that could be received by your currency exchange at rate USD/CAD=1.1175 and inclusive of the fee of USD 10 (1%).
Rates snapshot: 04/21/2018

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 comparison calculators make shopping around easy and help you calculate how much you can save.

Why can't I just get the same USD/CAD market rate I see on Google or in the Media?

When you look up the current U.S. dollar to Canadian dollar exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.

USD to CAD mid-rate on google

USD to CAD mid-rate on google search

Getting a great USD to CAD mid-market rate is all about timing, so unless you are able to wait, watch and time the market this is largely beyond your control. This rate will go up and down with varying amounts of volatility depending on the currency pair.

This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.

You can use the below USD to CAD calculator to convert currency amounts using the latest mid-market exchange rates. Then choose your transaction type for specific U.S. dollar cross rates and reviews of leading foreign exchange providers versus the Banks.


3. Currency News, Research and Forecasts for U.S. dollar and Canadian dollar

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 is always determined quoted in comparison to another currency.

So it follows that if you are determining the best time to transact, in this case the USD vs CAD, you should pay attention to both U.S. dollar and Canadian dollar news and forecasts.

U.S. dollar (USD) - Market news and forecasts

Against a basket of currencies, the U.S. dollar held steady in February and March – a welcome change considering the currency’s 15% fall in the preceding 13 months. However, any boost the greenback might receive from higher U.S. interest rates (the Fed hiked again in March) is likely to be offset by the longer-term consequences of U.S. trade tariffs, thinks a growing number of FX analysts. The latest round of tariffs include those on steel and aluminium imports and on $60 billion worth of Chinese goods, all aimed at boosting U.S. manufacturers.

The question of whether China in particular would take retaliatory steps on trade was a hot topic approaching the end of March. Analysts at Bank of America Merrill Lynch, BK Asset Management and Lloyds all said that the dollar would weaken on any escalation of trade tensions. In March, Lloyds reduced its dollar-euro year-end forecast to 0.8 (EUR/USD 1.25), from 0.82.

With trade on everyone’s lips and with traders uninspired by U.S. economic prospects, it is not surprising that the dollar’s trajectory has decoupled in 2018 from that of U.S. interest rate expectations. Despite yields climbing steadily this year, the dollar has sunk.

“It’s easy to see the weak-dollar story persisting,” said ING in February. The bank has forecast dollar-euro at just 0.77 at year-end (EUR/USD 1.3).

Canadian dollar (CAD) - Market news and forecasts

The Canadian dollar was the worst performing G10 currency in the first quarter of 2018.

Against the US dollar, CAD fell to buy 77.5 US cents (USD/CAD 1.29), but this was in line with average rates over the preceding twelve months.

Against the euro, CAD fell to an 8-year low but recovered somewhat before March was out to buy 63 euro cents (EUR/CAD 1.587).

For CAD, little respite is likely in the months ahead according to TD Securities, which described the currency in March as “really expensive.” A senior analyst at the firm explained that CAD was the “most exposed [major currency] from a global macro level and also from the local level of trade risk.”

Trade remains a dominant theme affecting CAD. Washington stepped up its protectionist measures in the first quarter with tariffs on steel and aluminium products (Canada is the number one exporter of such products to the US) and $60 billion worth of Chinese goods. Being a global growth-sensitive currency, CAD will suffer should international trade tensions escalate, not to mention the ramifications for ongoing NAFTA negotiations between Canada, the US and Mexico. The market consensus remains for an 8-10% drop in CAD's valuation should NAFTA negotiations fail.

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