Currency Converter

We have been featured in some of the most prestigious financial publications in the world including Business Insider, Investopedia, Washington Post, and CoinDesk. 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. It is also known as a commodity currency, due to the country’s substantial raw material exports. You’ll now see the value of the converted currency according to the most recent exchange rate.

Global business payments simplified.

The currency code for Dollars is CAD, and the currency symbol is $. Below, you’ll find Canadian Dollar rates and a currency converter. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. We partner with leading data providers to bring you the latest and most accurate prices for all major currencies and precious metals.

The exchange rate of the Canadian Dollar in relation to the United States Dollar on the chart, the table of the dynamics of the cost as a percentage for the day, week, month and year. Exchange-rates.org has been a leading provider of currency quotes and precious metal prices for nearly 20 years. Our information is trusted by millions of users across the globe each month .

Convert US Dollar to Canadian Dollar

Information is provided ‘as is’ and solely for informational purposes, not for trading purposes or advice. For exchange delays and terms of use, please read disclaimer (will open in new tab). The -0.7% month-on-month decline in retail sales coincided with a -0.3% decline in overall services activity in April. While surveys had previously indicated potential weakness in eurozone services for the second quarter, this concrete data confirms our expectations that GDP growth between April and June may have been negative.

• The currency and precious metals prices displayed on our site are aggregated from millions of data points and pass through proprietary algorithms in order to deliver timely and accurate prices to our users.
• Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive.
• Trump also imposed 25% rates on Malaysia, Kazakhstan and Tunisia, while South Africa would see a 30% tariff and Laos and Myanmar would face a 40% levy.
• Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate.

Please bear with us as we address this and floor trader’s method restore your personalized lists. 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.

However, worries that Trump’s trade tariffs would complicate the BoJ’s path to rate hikes could continue to support the pair. The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone.

Schedule international transfers across 130 currencies in 190+ countries. Join millions from across the globe who trust Remitly to send money home. Promotional FX rate applies to first 1,500.00 USD sent. 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.

• The Canadian Dollar is held as a reserve currency by a number of central banks.
• However, worries that Trump’s trade tariffs would complicate the BoJ’s path to rate hikes could continue to support the pair.
• Whether you need to make cross-border payments or FX risk management solutions, we’ve got you covered.
• It’s known locally as a buck or a loonie, with the two-dollar coin known as a toonie.
• The exchange rate of the Canadian Dollar in relation to the United States Dollar on the chart, the table of the dynamics of the cost as a percentage for the day, week, month and year.
• People also refer to the CAD as the Loonie, buck, Huard, and Piastre (in French).

Canada is likewise affected by Trump’s tariffs on steel, aluminum, and cars. US President Donald Trump renewed his threat of a 25% tax on imports from Japan and South Korea and shared a batch of other letters to world leaders warning of levies from 1 August. Trump also imposed 25% rates on Malaysia, Kazakhstan and Tunisia, while South Africa would see a 30% tariff and Laos and Myanmar would face a 40% levy. Other nations hit with levies included Indonesia with a 32% rate, Bangladesh with 35%, and Thailand and Cambodia with duties of 36%. Choose what works for you from a growing network of banks and cash pickup locations.

Today’s U.S. Dollar (USD) Exchange Rate with Remitly: Dollar to Peso and More

The author has not received compensation for writing this article, other than from FXStreet. The price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value.

Canadian dollars to US dollars

Gold price is back in the red below $3,350 early Tuesday, remaining stuck in a familiar range since last Friday as investors assess the implications of the latest tariff threats by US President Donald Trump. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. The downside of the USD/CAD pair could be attributed to the stable Canadian Dollar (CAD), supported by the recent comments from the Prime Minister Office on Monday. The office said that Canada was not targeted by the global tariffs and has committed to reaching a bilateral agreement with the United States by July 21. However, the CAD may face challenges as Canada is subject to fentanyl-related US duties.

The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive.

What are the ways to receive a money transfer?

Many leading competitors have a dirty little secret. 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. However, the period between 3-4 PM GMT is often a good time to convert Canadian Dollars to US Dollars because currency market liquidity and trading volume tend to be the highest during this time.

Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar. Our currency rankings show that the most popular Canadian Dollar exchange rate is the CAD to USD rate.