It is also known as a commodity currency, due to the country’s substantial raw material exports. Download our legacy noon and closing rates data. These rates were last updated 28 April 2017 using the Bank’s old calculation methodology, and will not be updated in future.

Updated if and when the Bank intervenes in foreign exchange markets. Whether you need to make cross-border payments or FX risk management solutions, we’ve got you covered. Schedule international transfers across 130 currencies in 190+ countries. The U.S. dollar is the currency most used in international transactions. Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity.

CAD to USD: Convert Canadian Dollars to US Dollars

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• People also refer to the CAD as the Loonie, buck, Huard, and Piastre (in French).
• The USD to CAD exchange rate usually has a negative correlation with the GBP/USD, AUD/USD, and NZD/USD pairs.
• USD/CAD is one of three commodity pairs that include NZD/USD and AUD/USD.
• The foreign exchange market determines how much the Canadian dollar is worth.

Where is better exchange rate to exchange Canadian dollars to USD? The USD to Canadian dollar currency pair tells traders how many Canadian dollars are needed to buy one US dollar. This currency pair is usually called the Loonie, a reference to the loon on the Canadian $1 coin. There are several factors that tend to influence USD/CAD. In Canada, the Bank of Canada determines interest rates while the Federal Reserve does the same in the U.S. An interest rate differential can affect relative currency values.

Exchange rates

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CAD = 0.72210 USD

Compare our rate and fee with our competitors and see the difference for yourself. Currency Converter is an exchange rate information and news app only and not a currency trading platform. The information shown there does not constitute financial advice. The dollar has been the currency of Canada since 1858. A number of central banks keep Canadian dollars as a reserve currency. It’s known locally as a buck or a loonie, with the two-dollar coin known as a toonie.

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Our fake double top pattern currency rankings show that the most popular Canadian Dollar exchange rate is the CAD to USD rate. The currency code for Dollars is CAD, and the currency symbol is $. Below, you’ll find Canadian Dollar rates and a currency converter. Which foreign currency exchange has the best exchange rate in Montreal? They add hidden markups to their exchange rates – charging you more without your knowledge.

The CAD and USD can be traded 24×5, starting from the time markets open on Monday mornings in Sydney until they close on Fridays at 5 PM in New York. Exchange rates can fluctuate by the minute while markets are open. Additionally, it’s advisable to convert Canadian Dollars to US Dollars early in the week if you need USD urgently. Executing a trade late in the week might result in a delayed settlement until the following week, as forex markets are closed on weekends. The USD and CAD can be traded 24×5, starting from the time markets open on Monday mornings in Sydney until they close on Fridays at 5 PM in New York.

• Exchange rates can fluctuate by the minute while markets are open.
• Our information is trusted by millions of users across the globe each month .
• The dollar has been the currency of Canada since 1858.
• These rates were last updated 28 April 2017 using the Bank’s old calculation methodology, and will not be updated in future.

The USD to CAD exchange rate usually has a negative correlation with the GBP/USD, AUD/USD, and NZD/USD pairs. USD/CAD is one of three commodity pairs that lexatrade review include NZD/USD and AUD/USD. These pairs are strongly correlated to commodity fluctuations, oil in particular.

You’ll now see the value of the converted currency according to the most recent exchange rate. Our widget is designed to seamlessly integrate into your website, offering valuable real-time currency data to your users without hassle. Whether you run a finance blog, e-commerce site, or travel platform, our Forex Widget can be a valuable addition to engage and inform your audience. The ultimate solution to enhance your website’s financial content and provide your visitors with up-to-the-minute exchange rate information. The foreign exchange market determines how much the Canadian dollar is worth. At the Bank of Canada, we very rarely intervene to support its value.

Importance of the Canadian DollarThe Canadian Dollar is the seventh-most traded currency on the Forex market, as many institutions and individuals trade the CAD. People also refer to the CAD as the Loonie, buck, Huard, and Piastre (in French). The Canadian Dollar is held as a reserve currency by a number of central banks.

Additionally, it’s advisable to convert US Dollars to Canadian Dollars early in the week if you need CAD urgently. Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate. Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers.

Other users have looked at the following popular currency charts. To view rates between the Canadian Dollar and the US Dollar for a particular year, click on one of the links below. To view rates between the US Dollar and the Canadian Dollar for a particular year, click on one of the links below. Set an alert now, and we’ll tell you when it gets better.

Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. Our smart tech means we’re more efficient – which means you get a great rate. Heading to the U.S. and need to exchange your Canadian dollars (CAD) to U.S. dollars (USD)? Or heading home and want to convert your USD to CAD? Convert from Canadian dollars based on daily exchange rates. The CEER index is a weighted average of bilateral exchange rates for the Canadian dollar against the currencies of Canada’s major trading partners.

Learn about the publication of, and calculation methodology for, the foreign exchange (FX) rate data on the Bank of Canada’s website. These rates were last updated in January 2018, and will not be updated in future. The Canadian-Dollar Effective Exchange Rate index (CERI) was replaced by the Canadian Effective Exchange Rate index (CEER) as of January 2018.

Find exchange rates, along with supporting data and background information. See how rates have changed over the last day or the last 500. Add currencies you use often – or just want to keep an eye on – to your favourites for easy access.