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Best CAD to USD exchange rates today
Examine the exchange rate and history of these two neighboring currencies.
Canadian and the US have a close trade and political relationship, so even small political or economic changes can affect the exchange rate. Find a provider that has rates closest to mid-market to get the best value for your exchange.
Today’s mid-market rate
Refreshing in: 60s | Tue, Sep 17, 12:28AM GMT
Buy USD with CAD
When you’re looking to exchange your CAD for USD, an online exchange provider can usually find you a rate closest to the mid-market. Compare these providers to find the one best for you.
When is the best time to buy USD?
The release of economic statistics affects the price of the US dollar the most. Because the USD has such an impact on all major currencies in the world, has the most and during equity, options and futures exchanges around the world are the best time to trade USD.
As of 2019, the upcoming presidential elections and tariffs on traded goods in China and Mexico could lead to a volatile USD.
The Canadian dollar and exchange rates
When exchanging Canadian dollars (CAD) for US dollars (USD), you’ll want to pay close attention to the exchange rate offered by your exchange service or bank.
Most advertise the mid-market rate — or the mid-point between the buy and sell prices of two currencies on the global market. But when it comes time to exchange your Canadian dollars, the provider will have marked up the exchange rate — and pocketed the difference.
To save on your next exchange, use a provider with flat or $0 fees, plus a rate that’s close to the mid-market rate.
How does the USD trade against the CAD historically?
Canada and the United States have collaborated economically for decades, and their relationship is among the most important in the world. Both are a part of the free market supply and demand, but the US dollar almost always holds more value than the Canadian dollar.
With an estimated 85% of all currency trades including the US dollar, it’s held global dominance since World War II. The US used its solid economic standing to assist European nations recovering from the war. The US dollar continues to heavily influence the economy of Canada.
The Canadian dollar surpassed the US dollar in 1976, as the price of oil increased, but was unable to repeat that position until 2007, with the onset of the subprime mortgage crises. In just nine months, the rate of exchange for Canadian dollars to US dollars rose by over 21%, peaking in November at 1 CAD = 0.96 USD.
As the US economy struggled over the next two years, the Canadian dollar traded against the US dollar at a premium price, staying between $0.97 and $1.02 from 2009 to 2012. The US dollar began to recover in 2013, causing the Canadian dollar to drop below its value. It hasn’t yet fully improved.
Canadian dollar to American dollar exchange rate history
Using historical data to forecast the CAD to USD exchange rate, we’ve put together the average exchange rate for the Canadian dollar against the American dollar for the past week.
|Sep 10||Sep 11||Sep 12||Sep 13||Sep 14||Sep 15||Sep 16|
|1 CAD =||0.7606 Inverse: 1.3147||0.7585 Inverse: 1.3185||0.7569 Inverse: 1.3212||0.7524 Inverse: 1.3290||0.7524 Inverse: 1.3290||0.7568 Inverse: 1.3213||0.7552 Inverse: 1.3242|
Average exchange rate over the past 6 months.
|Apr 17||May 13||Jun 08||Jul 04||Jul 30||Aug 25|
|1 CAD =||0.7491 Inverse: 1.3349||0.7418 Inverse: 1.3481||0.7526 Inverse: 1.3286||0.7663 Inverse: 1.3049||0.7605 Inverse: 1.3149||0.7510 Inverse: 1.3316|
Average exchange rate over the past 10 years.
|1 CAD =||0.8577|
What affects the USD to CAD exchange rates?
The financial relationship between Canada and the United States is close, causing the Canadian dollar to react strongly to even small tremors in the US economy. Before the major financial crises of 2008, the US economy faltered from a technological crash, resulting in a rise of the Canadian dollar. The conversion rate was $0.761 at the end of 2003, moving upward until it hit $0.90 in May 2006 — the highest it had reached up to that time.
Slowly recovering since, the US economy in 2014 again surpassed all of the major currencies in value, a feat it hadn’t accomplished since 2000.
Considering the close relationship between the US and Canada, trade with the two currencies should be close. Stay on top of current events, being aware of fluctuations during major elections, trade discussions and other factors that affect exchange rates. Check the mid-market rates to determine the best rate for your exchange.
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