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 New Zealand dollar (NZD) rates from different sources before making a conversion.
The above
Royal Bank of Canada - Loonie to Kiwi 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-NZD mid-rate and the possible savings of using various providers.
How do Royal Bank of Canada CAD-NZD rates compare between providers?
Looking at the full
CAD to NZD - Send Money comparison table the provider with the best CAD to NZD exchange rate is OFX at 1.2194, -0.5% from the latest mid-market rate 1.2255.
The next best is XE at 1.2182, -0.6% from the mid-rate.
Then Wise at 1.2171, which is -0.69% from the mid-rate.
The Western Union rate is 1.2072 which is -1.5% from the mid-rate.
Among the banks the TD Bank rate is 1.1752 at -4.1% the Scotiabank rate is 1.1912 at -2.8% and the Royal Bank of Canada rate is 1.1955 at -2.4% compared to the mid-rate 1.2255.
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.
