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    USD to CAD Exchange Rates

    Compare & Save - US dollar to Canadian dollar exchange rates. Latest dollar→loonie analysis and review of forecasts.

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    Compare & Save - US dollar to Canadian dollar

    Exchange rates can vary significantly between different currency exchange providers, so it's important to compare US dollar (USD) to Canadian dollar (CAD) rates from different sources before making a conversion.

    The above Rate Calculator and Comparison Table makes it easy to compare the Total Cost you are being charged on dollar to loonie currency rates and the possible savings of using various providers.

    In this dollar to loonie (USD/CAD) rate guide:

    @bestfxrates : FX analysts forecast a potential reversal in the USD to CAD exchange rate, with the US dollar expected to weaken post-Fed's 2023 interest rate hike cycle. CAD's struggles mainly sentiment-driven, not largely based on economic fundamentals. Current exchange rate is 1.3515, 0.9% above 3-month avg. Fluctuating oil prices may impact CAD. #USD #CAD #forex

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    USD to CAD Market Data

    US dollar (USD) to Canadian dollar (CAD) market data - latest interbank mid-rate, trend, chart & historic rates.

    1 USD =
    1.3465We compare provider deals to this wholesale mid-market rate. Read more
    USD to CAD at 1.3463 is just 0.5% above its 3-month average of 1.339, having traded in a quite stable 4.4% range from 1.3112 to 1.3686
    Sell USD   →   Buy CAD
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    07 Sep 2023
    1.5% 2 Week
    23 Jun 2023
    2% 3 Month
    21 Sep 2022
    0% 1 Year
    22 Sep 2018
    4.3% 5 Year
    23 Sep 2013
    31% 10 Year
    26 Sep 2003
    0.5% 20 Year
    USD/CAD historic rates & change to 21-Sep-2023

    Forecasts for USD to CAD

    USDCAD chart

    According to recent exchange rate forecasts and currency market updates, FX analysts expect the USD to CAD exchange rate to see some reversals in the coming year. The US dollar's strength, which has been prominent over the past year, is expected to eventually diminish as the Federal Reserve concludes its interest rate hike cycle in 2023. On the other hand, the Canadian dollar's struggles against the US dollar have been influenced by market sentiment rather than the fundamentals of the US and Canada's economies. However, continued declines in housing prices and adverse effects on wealth in Canada may further exert negative pressure on the Canadian dollar.

    Read our full USD to CAD forecasts analysis

    CAD to USD flags

    How to get a good USD to CAD exchange rate

    There are several ways to save on exchange rates when converting US dollar to Canadian dollar:

    1. Shop around for the best USD/CAD exchange rate: Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
    2. Timing is important: Keep an eye on the USD/CAD rate on currency markets, as exchange rates can fluctuate frequently. Try to make your transactions when the exchange rate is in your favor. You can do this easily with our BER Smart Rate Tracker.
    3. Use a credit/debit or travel card that doesn't charge foreign transaction fees: Some credit cards charge additional fees for transactions made in a foreign currency, so it's important to check with your card issuer to see if they charge these fees and what their exchange rate is.
    4. Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both USD and CAD at close to the interbank rate. It also allows you to make payments or withdrawals in the local currency while avoiding high conversion fees.
    5. Buy currency in advance: If you know that you will need foreign currency in the future, consider buying it in advance when the exchange rate is favorable.

    The key is reducing excessive costs and fees

    Generally speaking, if you are buying Canadian dollar with US dollar, then it's better 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.

    It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.

    Will the US dollar rise against the Canadian dollar?

    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 personalised BER Smart Rate Tracker to track and benefit from currency movements.

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    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.

    Read our Currency guide to Canada - a practical currency and money guide to travel, living and doing business in Canada with the Canadian dollar.


    Country Currency Guides

    United StatesUnited States (USD)CanadaCanada (CAD)

    Here are a few things to consider when sending money to Canada:

    1. Fees: Different banks and money transfer services charge different fees for international money transfers. Shop around to find the best deal and compare the fees charged by different providers.

    2. Exchange rate: The exchange rate is the rate at which one currency is converted into another. Keep an eye on the exchange rate when sending money to Canada, as it can fluctuate and impact the amount of money you receive.

    3. Transfer speed: Some money transfer providers offer faster transfer speeds than others. If you need the money to arrive in Canada quickly, consider a provider that offers expedited transfer speeds for an additional fee.

      Read more at our Canada (CAD) country guide


    Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more

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