Compare & Save on US dollar to Canadian dollar FX rates - Check dollar to CAD trends and forecasts.
In this dollar to CAD rate guide:
In December the loonie has steadied near its 90-day average around 0.74 relative to the greenback (1 USD = 1.34 CAD), this is down from the 0.77-0.79 range it had traded within all year until late August on inflation concerns.
| Date | USD/CAD | Change | Period |
|---|---|---|---|
18 Nov 2022 | 1.3416 | 0.5% ▲ | 2 Week |
03 Sep 2022 | 1.3127 | 2.7% ▲ | 3 Month |
02 Dec 2021 | 1.2819 | 5.2% ▲ | 1 Year |
03 Dec 2017 | 1.2719 | 6% ▲ | 5 Year |
04 Dec 2012 | 0.9931 | 35.8% ▲ | 10 Year |
07 Dec 2002 | 1.5618 | 13.7% ▼ | 20 Year |
Exchange rates available for foreign transfers and currency exchange always contain either a rate margin from the Latest dollar to CAD exchange rate (shown above) or a transaction fee and often both!
The below comparison table makes it easy to calculate the Total Cost you are being charged on dollar to CAD currency rates and the possible savings of using different FX providers.
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There are two important ways to save on Foreign Exchange, the first is minimising unnecessary or excessive costs and fees, and the other is to transact when the exchange rate is in your favour.
Generally speaking, if you are buying Canadian dollar with US dollar, then it's good 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.
You can also read our practical guide to getting the Best Deals for your Foreign Transfers and Travel Money to Canada.
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 BestExchangeRates My Rates Watchlist 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.
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