They add hidden markups to their exchange rates – charging you more without your knowledge. We partner with leading data providers to bring you the latest and most accurate prices for all major currencies and precious metals. The table displays the data and analysis of the variations. A year ago today, on this day, provided the equivalent of $1.00 canadian dollars for $0.743 us dollar, which is $0.037 more than it is now. Over the last 7 days, the best beneficial exchange rate was $0.705.
The pros and cons of currency hedging in a tariff-ied world
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 https://www.forex-reviews.org/ differential can affect relative currency values.
What was the highest USD to CAD exchange rate in the last 10 years?
- The USD to CAD exchange rate usually has a negative correlation with the GBP/USD, AUD/USD, and NZD/USD pairs.
- Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers.
- Additionally, it’s advisable to convert US Dollars to Canadian Dollars early in the week if you need CAD urgently.
- The dollar has been the currency of Canada since 1858.
- Get an automated currency feed through the Xe Currency Data API.
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. Additionally, it’s advisable to convert Canadian Dollars to US Dollars early in the week if you need USD 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. The CEER index is a weighted average of bilateral exchange rates for the Best gold stock Canadian dollar against the currencies of Canada’s major trading partners. View, download data or use our lookup tool for our daily exchange rates.
USD to CAD Exchange Rates
- Our smart tech means we’re more efficient – which means you get a great rate.
- Xe’s proprietary rates are sourced directly from financial data providers and reputable banks.
- Exchange rates can fluctuate by the minute while markets are open.
- These rates were last updated in January 2018, and will not be updated in future.
- Set an alert now, and we’ll tell you when it gets better.
- A year ago today, on this day, provided the equivalent of $1.00 canadian dollars for $0.743 us dollar, which is $0.037 more than it is now.
Send money to 190 countries across 130 currencies. All market data (will open in new tab) is provided by Barchart Solutions. To view rates between the Canadian Dollar and the US 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. And with our daily summaries, you’ll never miss out on the latest news. The U.S. dollar is the currency most used in international transactions.
USD to CAD exchange rate, chart
The Canadian-Dollar Effective Exchange Rate index (CERI) was replaced by the Canadian Effective Exchange Rate index (CEER) as of January 2018. Updated if and when the Bank intervenes in foreign exchange markets. 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 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. These pairs are strongly correlated to commodity fluctuations, oil in particular. Compare our rate and fee with our competitors and see the difference for yourself. Find exchange rates, along with supporting data and background information.
Convert Canadian Dollar to US Dollar
Banks and traditional providers often have extra costs, which they pass to you by marking dowmarkets up the exchange rate. Our smart tech means we’re more efficient – which means you get a great rate. Our exchange rate API offers real-time, accurate, and reliable data for hundreds of currencies. Xe’s proprietary rates are sourced directly from financial data providers and reputable banks.