USD to CAD — Live Rate & Oil Price Barometer
Get the live USD to CAD exchange rate and convert US Dollars to Canadian Dollars with the real mid-market rate — no hidden markup.
⚠️ This page shows the mid-market rate for reference only. Banks and transfer providers add their own markup.
USD to CAD Conversion Table
| USD | CAD |
|---|---|
| 1 USD | 1.38 CAD |
| 5 USD | 6.88 CAD |
| 10 USD | 13.75 CAD |
| 25 USD | 34.38 CAD |
| 50 USD | 68.75 CAD |
| 100 USD | 137.5 CAD |
| 250 USD | 343.75 CAD |
| 500 USD | 687.5 CAD |
| 1000 USD | 1375 CAD |
| 5000 USD | 6875 CAD |
| 10000 USD | 13750 CAD |
CAD to USD (Reverse Rate)
About the US Dollar and the Canadian Dollar
US Dollar (USD)
The US Dollar is the pricing benchmark of the North American economy — the currency Canada's exporters quote against, the currency most US–Canada trade is settled in, and the reference that turns USD/CAD into a direct thermometer of the world's largest trading partnership. Because roughly three-quarters of Canada's exports go south of the border, this pair moves on American demand almost as much as on Canadian data.
The oil link is what makes the pair distinctive. The dollar is a free-floating currency managed by the Federal Reserve (founded 1913), and roughly 58% of global central-bank reserves are held in it; the Loonie, by contrast, is one of the world's most traded commodity currencies, so when crude rallies CAD tends to strengthen against the constant dollar side of the pair. That makes USD/CAD the market's favorite way to trade the oil price through a currency pair.
Canadian Dollar (CAD)
The Canadian Dollar, nicknamed the "Loonie" after the bird on its one-dollar coin, is issued by the Bank of Canada. It is one of the most heavily traded commodity currencies in the world, and because roughly three-quarters of Canada's exports go to the United States, USD/CAD behaves as much like a North American trade pair as a pure currency pair.
Canada's economy is unusual: it is the United States' top trading partner, one of the world's largest oil producers, and a major net exporter of energy, metals and timber. That combination means the Loonie is driven by oil prices, US demand and cross-border capital flows all at once — and its close ties to the dollar make it a popular hedge and a bellwether for the North American economy.
USD/CAD is the market's clearest oil barometer: when crude rallies, the Loonie tends to follow. This page shows the live mid-market rate so you can track how closely the pair is shadowing the oil price — and how much of today's quote is commodity and how much is central-bank policy.
What Moves the USD/CAD Rate?
USD/CAD is the currency market's purest North American trade pair: Canada sends roughly three-quarters of its exports to the United States, and the two economies share borders, pipelines, supply chains and rate cycles. That closeness means the pair is less about two distinct economies and more about the difference in their commodity and interest-rate cycles.
Oil is the single biggest swing factor. Canada is one of the world's largest crude producers and a net exporter, while the United States is a net importer. When WTI crude rallies, Canadian oil revenues and export receipts rise and the Loonie tends to strengthen against the dollar; when oil slumps — as in 2014–15 and 2020 — USD/CAD can jump by 20% or more. The correlation between oil and the Loonie is one of the strongest in all of FX.
Central-bank policy and the rate gap. The Bank of Canada and the Federal Reserve move in similar cycles but rarely in lockstep, and the gap between their policy rates sets the "carry" for holding CAD. Canadian CPI, the monthly employment report and quarterly BoC projections are the key domestic triggers; US non-farm payrolls (first Friday of the month) and CPI dominate from the US side.
Trade policy and cross-border flows. US tariff and trade policy aimed at Canada — and the heavily integrated auto, energy and agriculture sectors — move the pair directly. Canada's deep financial ties to the US also mean USD/CAD reacts to global risk sentiment, though far less violently than higher-beta pairs like AUD or GBP.
For everyday conversions these swings rarely change your cost by more than 1–3%, but they do create better and worse moments to convert — which is exactly what the next two sections turn into practical guidance.
How to Get a Better USD/CAD Rate
US–Canada conversions are high-volume and cheap to move, but the traps are specific — cross-border shopping, snowbird finances and sneaky card fees. The habits below consistently save money:
- Watch the "pay in USD" prompt when shopping in Canada. Canadian merchants and card terminals routinely offer dynamic currency conversion. Choosing USD adds a 3–5% hidden markup; always choose to pay in CAD and let your card's own — ideally zero — FX fee apply.
- Use a no-foreign-transaction-fee card for cross-border spending. Many US cards charge 1.5–3% on Canadian purchases on top of a marked-up rate — a double charge. A no-FX-fee card converts at close to the mid-market rate.
- For larger transfers, specialist providers beat the big banks. Canadian and US banks quote 1.5–3% spreads on USD/CAD, while Wise, Revolut and OFX charge roughly 0.3–0.6%. On a $10,000 transfer the difference is often $100–200.
- Withdraw CAD from Canadian ATMs, not US exchange counters. ATM rates are close to mid-market (choose "without conversion"); airport and mall counters in Canada quote 5–10% spreads.
- Time transfers away from oil-price spikes and BoC/Fed meetings. The pair can move 1–2% in a session around OPEC+ decisions or rate announcements. If you can wait a day, you usually get a calmer rate.
- For recurring costs — rent, tuition, seasonal property — use a multi-currency account. Hold both USD and CAD and convert when the rate is good instead of on payday.
Rule of thumb: the fair cost of converting USD to CAD is the mid-market rate plus a transparent fee of under 1%. On a $10,000 transfer, you should be within about $60–$100 of the live rate shown here.
Best Times and Habits for USD/CAD Conversions
USD/CAD is busiest in the New York session, roughly 8:00 to 16:00 Eastern time, when US and Canadian markets overlap — the pair is effectively domestic to that window and spreads are tightest there. Liquidity thins overnight and on Canadian statutory holidays (July 1, Thanksgiving, Christmas), when price gaps are more likely.
The pair is most volatile around oil-market events (OPEC+ meetings, weekly US crude inventory reports every Wednesday), BoC rate decisions (eight a year) and US non-farm payrolls. If your provider lets you choose execution time, avoid those windows and the 15–30 minutes after them.
For ongoing needs — a Canadian salary, cross-border payroll or seasonal property costs — splitting transfers across two or three weeks smooths out oil-driven swings, and a rate alert is more reliable than checking the rate daily. The pair trends well, so a mid-month check-in beats a daily refresh.
Popular USD and CAD Conversions
Frequently Asked Questions
Why is the Canadian dollar called the "Loonie"?
Because of the common loon pictured on the country's one-dollar coin, introduced in 1987. The two-dollar coin is the "toonie". Canadians use the nickname everywhere — in news, banking and everyday conversation — so it has become the informal name for the currency itself.
Is it cheaper to exchange money in the US or in Canada?
For spending, a no-foreign-transaction-fee card in either country is cheapest. For cash, Canadian ATMs (choosing "without conversion") beat both US and Canadian exchange counters, which typically build 5–10% into their rates. Airport counters in both countries are the worst option.
Does the price of oil affect the USD to CAD rate?
Yes — more than almost anything else. Canada is a major oil exporter and the US a net importer, so rising crude tends to strengthen the Loonie (lower USD/CAD) and slumping crude weakens it. The oil–CAD correlation is one of the strongest in the currency market.
Why does the Canadian dollar sometimes trade near par with the US dollar?
The two economies are tightly integrated, so their currencies often converge. The Loonie last hit parity with the US dollar in 2011, when oil was near record highs, and cross-border shopping surged as Canadians flocked south. When the pair sits near 1.00–1.05, expect media coverage and border traffic to spike.
Should I pay in US dollars or Canadian dollars when shopping in Canada?
Always pay in Canadian dollars. The "pay in USD" option at terminals is dynamic currency conversion, which adds a 3–5% hidden markup. Paying in CAD lets your card's own exchange rate apply — and if your card has no FX fee, that rate is close to the mid-market rate.
How much cash should I carry when visiting Canada?
Very little. Card and contactless payments are accepted almost everywhere in Canada. Carry about $50–$100 Canadian for small vendors and tips, and withdraw more from ATMs if needed — choosing to be charged in CAD, not USD.
Disclaimer: Exchange rates are provided for informational purposes only and do not constitute financial advice. Actual rates offered by banks and money transfer providers may include a markup.