function calculateConversion() {
// 1. Get input values using var
var cadInput = document.getElementById('cadAmount');
var rateInput = document.getElementById('exchangeRate');
var feeInput = document.getElementById('bankFee');
var resultBox = document.getElementById('resultBox');
// 2. Parse values
var cadAmount = parseFloat(cadInput.value);
var exchangeRate = parseFloat(rateInput.value);
var feePercent = parseFloat(feeInput.value);
// 3. Validation
if (isNaN(cadAmount) || cadAmount < 0) {
alert("Please enter a valid CAD amount.");
return;
}
if (isNaN(exchangeRate) || exchangeRate <= 0) {
alert("Please enter a valid exchange rate.");
return;
}
if (isNaN(feePercent) || feePercent 0) {
effectiveRate = netUsd / cadAmount;
}
// Calculate Inverse Rate (How much CAD needed for 1 USD at effective rate)
var inverseRate = 0;
if (effectiveRate > 0) {
inverseRate = 1 / effectiveRate;
}
// 5. Update DOM
resultBox.style.display = 'block';
// Format Currency
var formatterUSD = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
});
document.getElementById('finalUsdDisplay').innerHTML = formatterUSD.format(netUsd) + " USD";
document.getElementById('marketValueDisplay').innerHTML = formatterUSD.format(rawUsdValue) + " USD";
document.getElementById('feeCostDisplay').innerHTML = "-" + formatterUSD.format(feeDeduction) + " USD";
// Format Rates
document.getElementById('effectiveRateDisplay').innerHTML = "1 CAD = " + effectiveRate.toFixed(4) + " USD";
document.getElementById('inverseRateDisplay').innerHTML = inverseRate.toFixed(4) + " CAD";
}
Maximizing Your Money: CAD to USD Exchange Guide
Converting Canadian Dollars (CAD) to US Dollars (USD) is a daily necessity for cross-border shoppers, travelers, and businesses. Known as the "Loonie" versus the "Greenback," this currency pair is heavily influenced by economic factors such as oil prices, interest rate differentials between the Bank of Canada and the Federal Reserve, and general market volatility.
Pro Tip: Never rely solely on the "mid-market" rate you see on Google. Banks and exchange kiosks always add a "spread" or margin, usually between 2% and 5%, which effectively lowers the amount of USD you receive.
How This Calculator Works
This tool helps you estimate the actual amount of US Dollars you will receive after bank fees. Here is the logic behind the numbers:
Amount to Convert: The total Canadian Dollars you wish to exchange.
Exchange Rate: The current market rate. While this fluctuates every second, it typically hovers around the 0.70 to 0.76 range in recent years.
Bank Fee (%): This is the crucial hidden cost. Most credit cards charge a 2.5% foreign transaction fee, while airport kiosks may charge upwards of 5% to 7%.
Understanding the Formula
To manually calculate your exchange, you can use the following formula:
(CAD Amount × Exchange Rate) × (1 – Fee Percentage) = Net USD Received
For example, if you are converting $1,000 CAD at a rate of 0.74 with a 2.5% fee:
Base Value: 1,000 × 0.74 = $740 USD
Fee Deduction: $740 × 0.025 = $18.50 USD
Final Amount: $740 – $18.50 = $721.50 USD
When is the Best Time to Convert?
Historically, the Canadian dollar tends to strengthen when oil prices are high, as energy is a major export for Canada. Conversely, during times of global economic uncertainty, investors flock to the US Dollar as a "safe haven," which lowers the value of the CAD. Monitoring these trends can help you time your conversion to get the most bang for your buck.