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’.
US dollar (USD) to Canadian dollar (CAD) market data - latest interbank exchange rate, trend, chart & historic rates.
Bias: Bearish-to-range-bound, USD/CAD sits below the 90-day average and in the lower half of its three-month range, suggesting limited upside unless new data shift the outlook.
Bias: Bearish-to-range-bound, as USD/EUR sits below the 90-day average and in the lower half of the three-month range.
Bias: bullish-to-range-bound, as USD/JPY sits above its 90-day average and in the upper half of the three-month range.
To help you understand the real-world value of the current exchange rate, the table below shows how much US dollar are worth in Canadian dollar across a range of amounts.
This gives a quick view of what you’d get when converting different USD amounts at today’s rate * :
*Converted at the current USD-CAD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The Scotiabank USD to CAD exchange rate is 1.3495. This is -2.8% compared to the latest USD-CAD mid-market rate 1.3884.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to Canadian dollar (CAD) rates from different sources before making a conversion.
The above Scotiabank - Dollar to Loonie 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 USD-CAD mid-rate and the possible savings of using various providers.
Looking at the full USD to CAD - Send Money comparison table the provider with the best USD to CAD exchange rate is OFX at 1.3814, -0.5% from the latest mid-market rate 1.3884.
The next best is XE at 1.38, -0.61% from the mid-rate.
Then Western Union at 1.3745, which is -1% from the mid-rate.
Among the banks the Chase Bank rate is 1.2861 at -7.4% the Wells Fargo Bank rate is 1.2819 at -7.7% and the Citibank rate is 1.3458 at -3.1% compared to the mid-rate 1.3884.
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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