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 Japanese yen (JPY) rates from different sources before making a conversion.
The above
Royal Bank of Canada - Loonie to Yen comparison table
makes it easy to compare the Total Fees (both variable and fixed) you are being charged by
Royal Bank of Canada and other foreign exchange providers against the latest CAD-JPY mid-rate and the possible savings of using various providers.
How do Royal Bank of Canada CAD-JPY rates compare between providers?
Looking at the full
CAD to JPY - Send Money comparison table the provider with the best CAD to JPY exchange rate is OFX at 112.12, -0.51% from the latest mid-market rate 112.69.
The next best is XE at 112.01, -0.6% from the mid-rate.
Then Wise at 111.71, which is -0.87% from the mid-rate.
The Western Union rate is 111 which is -1.5% from the mid-rate.
Among the banks the TD Bank rate is 108.76 at -3.5% the Scotiabank rate is 109.2 at -3.1% and the Royal Bank of Canada rate is 109.59 at -2.8% compared to the mid-rate 112.69.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally,
banks like Royal Bank of Canada 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
or platforms that offer rates closer to the mid-market rate.
