The exchange rate between the Canadian Dollar (CAD) and the US Dollar (USD) is a crucial metric for individuals and businesses involved in international trade, travel, or investment between Canada and the United States. This rate fluctuates constantly due to various economic factors.
Factors Influencing the Exchange Rate:
Economic Performance: Differences in economic growth, inflation rates, and employment figures between Canada and the US significantly impact the exchange rate. Stronger economic indicators in one country tend to strengthen its currency.
Interest Rates: Central bank interest rate decisions by the Bank of Canada and the US Federal Reserve play a vital role. Higher interest rates can attract foreign investment, increasing demand for the currency and thus its value.
Commodity Prices: As Canada is a major exporter of commodities like oil and minerals, fluctuations in global commodity prices can directly affect the value of the Canadian Dollar.
Political Stability: Geopolitical events and political stability in either country can influence investor confidence and lead to currency movements.
Trade Balances: The balance of trade between Canada and the US, the two largest trading partners, is a key determinant of the exchange rate.
How to Use the Calculator:
This calculator simplifies the process of converting Canadian Dollars to US Dollars. Simply enter the amount of Canadian Dollars you wish to convert and the current exchange rate (how many USD you get for 1 CAD). The calculator will then provide the equivalent amount in US Dollars.
For example, if you have 100 CAD and the exchange rate is 0.75 (meaning 1 CAD = 0.75 USD), you would enter '100' in the Canadian Dollars field and '0.75' in the Exchange Rate field. The result would show you how many US Dollars you receive.
function calculateUsd() {
var cadAmountInput = document.getElementById("cadAmount");
var exchangeRateInput = document.getElementById("exchangeRate");
var resultDiv = document.getElementById("result");
var cadAmount = parseFloat(cadAmountInput.value);
var exchangeRate = parseFloat(exchangeRateInput.value);
if (isNaN(cadAmount) || isNaN(exchangeRate) || cadAmount < 0 || exchangeRate < 0) {
resultDiv.innerHTML = "Please enter valid positive numbers for both amounts.";
return;
}
var usdAmount = cadAmount * exchangeRate;
resultDiv.innerHTML = "