Understanding the Table:
The comparison table above helps you see the total cost of your OFX currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
The average CAD rate margin offered by OFX is 3.4%.
This average is based on individual CAD 10K transfer rates in the currency pairs from OFX that we monitor.
💡 It is important to note that these OFX rates are their public quoted rates and do not include our special BER/OFX deals rates which start at 0.5% for major currencies and improve for larger amounts. Please use our calculators to check these special rates and use our 'Visit OFX' links to secure these deals.
The tables below show the best and worst exchange rate margins offered by OFX for Canadian dollar (CAD 10K) transactions. Margins show the percentage difference from the mid-market rate.
Canadian dollar (CAD) to US dollar (USD) market data - latest interbank exchange rate, trend, chart & historic rates.
CAD/USD Outlook: Slightly positive, but likely to move sideways as the rate is above its recent average and lacks a clear driver for a substantial increase.
CAD/EUR Outlook: Slightly positive, but likely to move sideways as the rate is near its recent average and lacks a clear driving force.
CAD/JPY Outlook: The Canadian dollar (CAD) is likely to increase as it is trading above its recent average and near recent highs, driven by factors favoring the loonie.
To help you understand the real-world value of the current exchange rate, the table below shows how much Canadian dollar are worth in US dollar across a range of amounts.
This gives a quick view of what you’d get when converting different CAD amounts at today’s rate * :
*Converted at the current CAD-USD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The OFX CAD to USD exchange rate is 0.7208. This is -0.5% compared to the latest CAD-USD mid-market rate 0.7244.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Canadian dollar (CAD) to US dollar (USD) rates from different sources before making a conversion.
The above OFX - Loonie to Dollar comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by OFX and other foreign exchange providers against the latest CAD-USD mid-rate and the possible savings of using various providers.
Looking at the full CAD to USD - Send Money comparison table the provider with the best CAD to USD exchange rate is OFX at 0.7208, -0.5% from the latest mid-market rate 0.7244.
The next best is XE at 0.72, -0.61% from the mid-rate.
Then Wise at 0.7191, which is -0.73% from the mid-rate.
The Western Union rate is 0.7171 which is -1% from the mid-rate.
Among the banks the TD Bank rate is 0.6754 at -6.8% the Scotiabank rate is 0.7073 at -2.4% and the Royal Bank of Canada rate is 0.7094 at -2.1% compared to the mid-rate 0.7244.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks and foreign exchange providers often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service like OFX or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
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