US dollar to Canadian dollar (USD to CAD) exchange rate, chart (2024)

FAQs

US dollar to Canadian dollar (USD to CAD) exchange rate, chart? ›

US Dollar to Canadian Dollar Exchange Rate is at a current level of 1.357, up from 1.356 the previous market day and down from 1.358 one year ago. This is a change of 0.07% from the previous market day and -0.06% from one year ago.

US Dollar to Canadian Dollar Exchange Rate is at a current level of 1.357, up from 1.356 the previous market day and down from 1.358 one year ago. This is a change of 0.07% from the previous market day and -0.06% from one year ago.

Exchange at a bank or credit union before your trip: Visiting your local bank is likely the most cost-effective way to convert currency.

1 CAD = 0.73635 USD Sep 08, 2024 18:10 UTC

The currency converter below is easy to use and the currency rates are updated frequently.

The best time to convert Canadian to US dollars is when your desired exchange rate is met. This is the rate that saves you more money on overseas transfers. Fortunately, you can still capture a favourable rate without obsessively keeping track of market fluctuations.

“For example, if you were traveling to Canada, it is 100% in your favor to get the Canadian dollar from the U.S. bank before you travel if the U.S. currency is stronger. But when we're looking at currencies like the British pound, better to do everything when you get to London, not beforehand,” he added.

USD not universally accepted

If you are planning to rely on USD in Canada, you may like to reconsider. Although large retailers, tourist attractions, hotels and border crossings accept US currency, smaller and rural destinations may not.

Is it better to use USD or CAD in Canada? ›

When you travel to Canada, it is best to pay in the local currency in Canadian dollars or CAD. It is widely accepted at hotels, retailers and local commutes.

Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, often offer the added benefit of having ATMs overseas. Online peer-to-peer foreign currency exchanges. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.

No. There are no fees of any kind involved with USD to CAD conversion. The exchange rate and amounts you see are exactly what you will receive.

The Canadian dollar has been edging lower against the US dollar since the beginning of 2024, losing just over 2% year-to-date. It currently (1.35) remains in the middle of the 19 month trading range of 1.31 to 1.40.

The official currency of Canada is the Canadian dollar. Tourists visiting Canada will need to exchange their currency to Canadian dollars when they enter the country. The US dollar, which is the American currency, is usually accepted in most cities including Niagara Falls, Ontario.

Exchanges- Currency-exchange services tend to offer a slightly better deal than the banks, such as the Vancouver Bullion & Currency Exchange (VBCE), and usually have best-rate guarantees. So, if a bank offers you a rate, you can show the VBCE and get a better rate.

If the US demonstrates sustained economic resilience and higher interest rates compared to Canada, analysts project the USD could maintain or even extend its strength against the CAD. Conversely, if the US begins to cut interest rates aggressively in 2025, the CAD is predicted to gain ground against the USD.

Canadian Dollar to US Dollar Exchange Rate is at a current level of 0.7374, down from 0.7399 the previous market day and up from 0.7311 one year ago. This is a change of -0.34% from the previous market day and 0.86% from one year ago.

Falling interest rates driving weaker CAD demand

The decrease in Canadian interest rates, potentially widening the interest rate differential with the US to a full 1.00% by July, is diminishing demand for the Canadian dollar.