Convert CAD to USD (Buy US Dollars)
Convert USD to CAD (Sell US Dollars)
Enter the current "Client Rate" seen on the TD website.
Conversion Type:CAD to USD
Input Amount:0.00
Exchange Rate Used:0.0000
Estimated Total:0.00
function updateLabels() {
var direction = document.getElementById("conversionDirection").value;
var amountLabel = document.getElementById("amountLabel");
if (direction === "cad_to_usd") {
amountLabel.innerHTML = "Amount in CAD (Canadian Dollars):";
} else {
amountLabel.innerHTML = "Amount in USD (US Dollars):";
}
}
function calculateExchange() {
// Inputs
var amount = parseFloat(document.getElementById("amountInput").value);
var rate = parseFloat(document.getElementById("exchangeRate").value);
var direction = document.getElementById("conversionDirection").value;
// Output Elements
var resultArea = document.getElementById("result-area");
var resType = document.getElementById("resType");
var resInput = document.getElementById("resInput");
var resRate = document.getElementById("resRate");
var resTotal = document.getElementById("resTotal");
// Validation
if (isNaN(amount) || amount <= 0) {
alert("Please enter a valid positive amount to convert.");
return;
}
if (isNaN(rate) || rate <= 0) {
alert("Please enter a valid exchange rate.");
return;
}
var total = 0;
var inputSymbol = "";
var outputSymbol = "";
// Logic:
// Rate is typically quoted as 1 USD = X CAD (e.g. 1.36)
if (direction === "cad_to_usd") {
// Converting CAD to USD
// Formula: CAD Amount / Rate = USD Total
total = amount / rate;
resType.innerText = "CAD to USD (Buying USD)";
inputSymbol = " CAD";
outputSymbol = " USD";
} else {
// Converting USD to CAD
// Formula: USD Amount * Rate = CAD Total
total = amount * rate;
resType.innerText = "USD to CAD (Selling USD)";
inputSymbol = " USD";
outputSymbol = " CAD";
}
// Formatting
resInput.innerText = amount.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2}) + inputSymbol;
resRate.innerText = "1 USD = " + rate.toFixed(4) + " CAD";
resTotal.innerText = total.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2}) + outputSymbol;
// Show Results
resultArea.style.display = "block";
}
Understanding the TD US Exchange Rate
When conducting cross-border transactions between Canada and the United States, understanding how banks like TD (Toronto-Dominion Bank) calculate exchange rates is crucial for financial planning. Whether you are a snowbird heading south for the winter, a business owner paying US vendors, or simply shopping online, the exchange rate significantly impacts your bottom line.
How TD Exchange Rates Work
Like most major Canadian financial institutions, TD sets its exchange rates based on the global foreign exchange market but includes a "spread." The spread is the difference between the mid-market rate (the rate you might see on news sites or Google) and the rate the bank offers to customers.
Cash Rate: This applies when you are exchanging physical currency (bills and coins) at a branch. Cash rates typically have a wider spread because of the logistical costs of handling cash.
Non-Cash Rate: This applies to electronic transfers, drafts, or transfers between a CAD account and a USD account within TD. These rates are often slightly more favorable than cash rates.
Border/Client Rate: Depending on your account type (e.g., Borderless Plan), you may receive preferred rates that reduce the spread.
Using the Calculator
This tool allows you to estimate your conversion based on current rates. Since rates fluctuate every minute while markets are open, follow these steps for the best estimate:
Check the Direction: Select whether you are converting Canadian Dollars to US Dollars (Buying USD) or US Dollars to Canadian Dollars (Buying CAD).
Enter Amount: Input the total amount of currency you currently hold and wish to exchange.
Input the Rate: Visit the official TD website or log into EasyWeb to find the current "Client Buy" or "Client Sell" rate. Enter that figure into the "Exchange Rate" field (usually formatted as 1 USD = 1.xx CAD).
Calculate: Click the button to see the estimated result.
Factors Influencing the CAD/USD Pair
The exchange rate between the Canadian Dollar and the US Dollar is influenced by several macroeconomic factors:
Commodity Prices: Historically, the CAD is correlated with oil prices. When oil prices rise, the CAD often strengthens against the USD.
Interest Rate Differentials: The difference between the Bank of Canada's interest rate and the US Federal Reserve's rate drives capital flow. Higher rates generally attract foreign investment, strengthening the currency.
Economic Performance: GDP growth, employment data, and trade balances in both Canada and the US affect investor confidence and currency value.
Tips for Better Rates
If you frequently exchange money, consider looking into US Dollar accounts or specialized plans. The "TD U.S. Dollar Borderless Plan" is a popular option that offers preferred exchange rates and waives the monthly fee if a minimum balance is maintained. Additionally, for large transactions (typically over $50,000), you may be able to contact the bank's foreign exchange desk directly for a "spot quote" better than the posted board rate.