Understanding the Table:
The comparison table above helps you see the total cost of your Scotiabank 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 Scotiabank is 3.8%.
This average is based on individual CAD 10K transfer rates in the currency pairs from Scotiabank that we monitor.
The tables below show the best and worst exchange rate margins offered by Scotiabank for Canadian dollar (CAD 10K) transactions. Margins show the percentage difference from the mid-market rate.
Canadian dollar (CAD) to South African rand (ZAR) market data - latest interbank exchange rate, trend, chart & historic rates.
CAD/ZAR Outlook: Bearish, with the rate currently below its 90-day average and near recent lows, facing pressure from several factors.
CAD/USD Outlook: Likely to increase, supported by CAD trading above its recent average and near recent highs.
USD/ZAR Outlook: Bearish, as the rate is below its recent average and near multi-year lows.
To help you understand the real-world value of the current exchange rate, the table below shows how much Canadian dollar are worth in South African rand 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-ZAR interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The Scotiabank CAD to ZAR exchange rate is 11.31. This is -2.4% compared to the latest CAD-ZAR mid-market rate 11.59.
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 South African rand (ZAR) rates from different sources before making a conversion.
The above Scotiabank - Loonie to Rand comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Scotiabank and other foreign exchange providers against the latest CAD-ZAR mid-rate and the possible savings of using various providers.
Looking at the full CAD to ZAR - Send Money comparison table the provider with the best CAD to ZAR exchange rate is OFX at 11.53, -0.52% from the latest mid-market rate 11.59.
The next best is XE at 11.52, -0.6% from the mid-rate.
Then Western Union at 11.47, which is -1% from the mid-rate.
Among the banks the TD Bank rate is 11.1 at -4.2% the Scotiabank rate is 11.31 at -2.4% and the Royal Bank of Canada rate is 11.08 at -4.4% compared to the mid-rate 11.59.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like Scotiabank 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.
View a full list of exchange rates by selecting your Base (from) currency:
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