Canadian Dollar to US Dollar Exchange Rate Calculator
Understanding the Canadian Dollar to US Dollar Exchange Rate
The exchange rate between the Canadian Dollar (CAD) and the US Dollar (USD) is a crucial figure for many individuals and businesses. It dictates how much one currency is worth in terms of the other. This rate fluctuates constantly due to a variety of economic factors, including:
- Economic Performance: The relative strength and growth of the Canadian and US economies significantly impact the exchange rate. Stronger economic indicators in one country can strengthen its currency against the other.
- Interest Rates: Central bank policies, particularly interest rate decisions by the Bank of Canada and the US Federal Reserve, play a major role. Higher interest rates can attract foreign investment, increasing demand for the currency.
- Commodity Prices: Canada is a major exporter of commodities like oil and minerals. Fluctuations in global commodity prices can therefore impact the value of the Canadian Dollar.
- Trade Balance: The balance of trade between Canada and the US, as well as global trade, influences currency demand.
- Geopolitical Events: Global political stability and significant international events can cause currencies to appreciate or depreciate.
For travelers, businesses involved in import/export, and investors, keeping track of the CAD to USD exchange rate is essential for making informed financial decisions. This calculator helps you quickly and easily convert amounts between these two currencies based on the current market rate you provide.
function calculateUsd() { var cadAmount = parseFloat(document.getElementById("cadAmount").value); var exchangeRate = parseFloat(document.getElementById("exchangeRate").value); var resultDiv = document.getElementById("result"); if (isNaN(cadAmount) || isNaN(exchangeRate) || cadAmount < 0 || exchangeRate <= 0) { resultDiv.innerHTML = "Please enter valid positive numbers for Canadian Dollars and the exchange rate."; return; } var usdAmount = cadAmount * exchangeRate; resultDiv.innerHTML = cadAmount.toFixed(2) + " CAD is equal to " + usdAmount.toFixed(2) + " USD."; }