Understanding the USD/CAD exchange rate
The USD/CAD rate tells you how many Canadian Dollar you get for one US Dollar. When the rate goes up, the US Dollar is strengthening against the Canadian Dollar. When it falls, Canadian Dollar is gaining ground. The number you see on this page is the European Central Bank's daily reference rate — the mid-market midpoint that banks use when they trade with each other, updated every business day at 16:00 Central European Time.
This is the fairest single benchmark to compare quotes against. It is not the rate your bank, card, or bureau will give you retail — those providers add a margin. But it's the number every honest quote should be close to.
What moves the USD/CAD pair
- Interest rate decisions. When the central bank behind US Dollar raises rates faster than the one behind Canadian Dollar, USD typically strengthens. Watch the Federal Reserve, ECB, Bank of England, and Bank of Japan calendars.
- Inflation surprises. Higher-than-expected inflation usually weakens a currency short-term but can strengthen it if markets expect the central bank to hike aggressively.
- Growth and jobs data. Strong GDP, retail sales, and non-farm payrolls readings tend to lift a currency; weak data does the opposite.
- Risk sentiment. In periods of global stress, "safe-haven" currencies like the US dollar, Swiss franc, and Japanese yen gain against riskier ones.
- Commodity prices. Currencies of resource-heavy economies (CAD, AUD, NOK, BRL, ZAR) rise and fall with oil, metals, and agricultural prices.
- Political and fiscal news. Elections, budget announcements, and geopolitical events can move rates within minutes.
About the US Dollar and Canadian Dollar
US Dollar (USD). The world's most widely traded reserve currency, issued by the US Federal Reserve.
Canadian Dollar (CAD). The official currency of Canada, often called the 'Loonie' after the bird depicted on the one-dollar coin.
How to get a good USD to CAD rate
The rate you get depends on where you convert, not just when. Ranked from best to worst for most amounts:
- Multi-currency fintech cards (Wise, Revolut, Monzo, N26): typically within 0.3–0.7% of the ECB mid-market rate. Best for travel spend and small-to-medium transfers.
- Specialist FX brokers (OFX, CurrencyFair, Moneycorp): competitive for transfers above 5,000 units, with negotiable margins.
- High-street bank wires: convenient but usually 1–3% worse than mid-market, plus a fixed fee.
- Airport and hotel bureaux: often 3–8% worse. Only use in emergencies.
- Dynamic currency conversion at the terminal: always decline. This lets the merchant's bank set the rate — typically 5–12% worse than your own card's rate.
Learn more in our guides on avoiding hidden exchange fees and when to exchange currency.
USD to CAD — quick amount pages
| Amount | Live conversion |
|---|---|
| 1 USD | See 1 USD in CAD → |
| 5 USD | See 5 USD in CAD → |
| 10 USD | See 10 USD in CAD → |
| 50 USD | See 50 USD in CAD → |
| 100 USD | See 100 USD in CAD → |
| 500 USD | See 500 USD in CAD → |
| 1,000 USD | See 1,000 USD in CAD → |
| 5,000 USD | See 5,000 USD in CAD → |
| 10,000 USD | See 10,000 USD in CAD → |
Frequently asked about USD to CAD
What is the current USD to CAD exchange rate?
The live rate is shown at the top of this page and updates against the ECB daily reference. For a historical view, use the 30-day chart directly under the calculator.
Is the ECB rate the rate my bank uses?
No. Banks and exchange services add a margin on top of the mid-market rate. The ECB reference is a benchmark for comparison, not a retail quote.
When does the USD/CAD rate update?
The wholesale interbank rate moves continuously during market hours. The ECB publishes one reference number per business day at approximately 16:00 CET. Weekends and eurozone bank holidays carry Friday's number forward.
How do I convert a specific amount of USD to CAD?
Type any value into the calculator at the top of this page — the result updates instantly. For popular round amounts, see the quick links above.