USD to CAD (US Dollar to Canadian Dollar)
CAD to USD (Canadian Dollar to US Dollar)
Enter the current market rate or your bank's rate.
Converted Amount:
0.00
Understanding the USD to CAD Exchange Rate
The exchange rate between the United States Dollar (USD) and the Canadian Dollar (CAD) is one of the most actively traded currency pairs in the world. Whether you are a cross-border shopper, a business owner importing goods, or an investor monitoring forex markets, understanding how to calculate the exchange rate is crucial for financial planning.
This US CAD Exchange Rate Calculator allows you to quickly convert amounts based on the current market rate. Since exchange rates fluctuate constantly due to economic indicators, interest rates, and geopolitical events, this tool allows you to input the specific rate provided by your bank or a live forex source.
How the Calculation Works
The calculation depends on the direction of your conversion. The standard market convention typically quotes the pair as USD/CAD, meaning how many Canadian Dollars purchase one US Dollar.
USD to CAD Formula: Total CAD = Amount in USD × Exchange Rate Example: If you have $1,000 USD and the rate is 1.36, you receive $1,360 CAD.
CAD to USD Formula: Total USD = Amount in CAD ÷ Exchange Rate Example: If you have $1,000 CAD and the rate is 1.36, you receive approximately $735.29 USD.
Factors Influencing the Exchange Rate
Several key factors cause the USD/CAD rate to rise or fall:
Commodity Prices: The Canadian Dollar is often correlated with oil prices. When oil prices rise, the CAD tends to strengthen against the USD.
Interest Rates: Differences between the Federal Reserve (Fed) and the Bank of Canada (BoC) interest rates affect currency demand. Higher rates generally attract foreign capital, boosting the currency value.
Economic Performance: GDP growth, employment data, and trade balances in both the US and Canada play significant roles in determining the exchange rate.
Bank Rate vs. Market Rate
It is important to note that the rate you see on Google or financial news sites is the "mid-market rate." Banks and currency exchange kiosks typically add a "spread" or margin to this rate.
For example, if the market rate is 1.36, a bank might offer to buy your USD at 1.33 or sell you USD at 1.39. When using this calculator, ensure you input the actual rate offered by your financial institution for the most accurate result.
// Initialize label on load
window.onload = function() {
updateRateLabel();
};
function updateRateLabel() {
var direction = document.getElementById('conversionDirection').value;
var label = document.getElementById('rateLabel');
// Standard convention is usually quoting USD/CAD (e.g. 1.35)
// We keep the input asking for the standard USD/CAD rate to avoid confusion,
// but the logic handles the division/multiplication.
if (direction === 'usd_to_cad') {
label.innerHTML = "Exchange Rate (1 USD = ? CAD)";
} else {
// Even when converting CAD to USD, users usually look up the USD/CAD pair.
// We clarify this in the label.
label.innerHTML = "Exchange Rate (1 USD = ? CAD)";
}
}
function calculateExchange() {
// Get Input Elements
var amountInput = document.getElementById('conversionAmount');
var rateInput = document.getElementById('currentRate');
var directionSelect = document.getElementById('conversionDirection');
var resultDiv = document.getElementById('exchangeResult');
var finalAmountDisplay = document.getElementById('finalAmountDisplay');
var rateSummary = document.getElementById('rateSummary');
// Parse Values
var amount = parseFloat(amountInput.value);
var rate = parseFloat(rateInput.value);
var direction = directionSelect.value;
// Validation
if (isNaN(amount) || isNaN(rate) || rate <= 0) {
// If invalid, hide result or show 0
if (amountInput.value === "") {
resultDiv.style.display = "none";
return;
}
return;
}
// Calculation Logic
var result = 0;
var symbol = "$";
var currencyCode = "CAD";
var inverseLogic = "";
if (direction === 'usd_to_cad') {
// Formula: USD * Rate = CAD
result = amount * rate;
symbol = "CA$";
currencyCode = "CAD";
inverseLogic = amount + " USD exchanged at a rate of " + rate;
} else {
// Formula: CAD / Rate = USD (Assuming rate is entered as 1 USD = X CAD)
result = amount / rate;
symbol = "US$";
currencyCode = "USD";
inverseLogic = amount + " CAD exchanged at a rate of " + rate;
}
// Formatting Output
var formattedResult = result.toLocaleString('en-US', { minimumFractionDigits: 2, maximumFractionDigits: 2 });
// Display Result
resultDiv.style.display = "block";
finalAmountDisplay.innerHTML = symbol + " " + formattedResult + " " + currencyCode + "";
rateSummary.innerHTML = "Based on input: " + inverseLogic;
}