Compare & Save on US dollar to Canadian dollar exchange rates. Latest US dollar to CAD analysis and forecasts.
In this US dollar to CAD rate guide:
Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
This exchange rate calculator makes it easy to compare the Total Cost you are being charged on US dollar to CAD currency rates and the possible savings of using various providers.
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Based on recent FX analyst forecasts and a review of the past 3-month price data for USD to CAD, the market sentiment appears to be influenced by key factors such as February's strong US Jobs Report, sluggish global GDP growth, China's economic recovery, and the UBS acquisition of Credit Suisse. As a result, USD to CAD has been trading just above its 3-month average at 1.3590, exhibiting fluctuations within a 4.3% range between 1.3291 and 1.3860.
Economists express caution in predicting an upward trend for the Canadian dollar, considering the risk-on and risk-off environments in financial markets and the correlated nature of the US and Canadian economies. Additionally, a continued decline in housing prices and adverse wealth effects could exert further negative pressure on the Canadian dollar in 2023. With USD to CAD likely to be influenced by these developments and market sentiment, it is crucial for investors to monitor the exchange rate closely and make decisions based on their individual needs and preferred exchange rate levels.
US dollar to Canadian dollar FX market data and key indicators - Interbank rate, charts, forecasts & historic rates and trends.
| Date | USD/CAD | Change | Period |
|---|---|---|---|
15 Mar 2023 | 1.3768 | 1.5% ▼ | 2 Week |
29 Dec 2022 | 1.3555 | 0% ▲ | 3 Month |
29 Mar 2022 | 1.2499 | 8.5% ▲ | 1 Year |
30 Mar 2018 | 1.2903 | 5.1% ▲ | 5 Year |
31 Mar 2013 | 1.0174 | 33.3% ▲ | 10 Year |
03 Apr 2003 | 1.4751 | 8.1% ▼ | 20 Year |
There are several ways to save on exchange rates when converting US dollar to Canadian dollar:
Generally speaking, if you are buying Canadian dollar with US dollar, then it's better for the USD/CAD exchange rate to be higher.
However working against you are the fees all foreign exchange providers charge for providing their service. These fees 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.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add USD/CAD to your personalised BER Smart Rate Tracker to track and benefit from currency movements.
Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲ DOWN▼ HIGH▲ LOW▼ alerts over a range of periods over the recent 90 days.
You can also read our practical guide to getting the Best Deals for your Foreign Transfers and Travel Money to Canada.
 United States (USD) |  Canada (CAD) |
Here are a few things to consider when sending money to Canada:
Fees: Different banks and money transfer services charge different fees for international money transfers. Shop around to find the best deal and compare the fees charged by different providers.
Exchange rate: The exchange rate is the rate at which one currency is converted into another. Keep an eye on the exchange rate when sending money to Canada, as it can fluctuate and impact the amount of money you receive.
Transfer speed: Some money transfer providers offer faster transfer speeds than others. If you need the money to arrive in Canada quickly, consider a provider that offers expedited transfer speeds for an additional fee.
Read more at our Canada (CAD) country guide
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