Canadian Dollar Exchange Calculator
Quickly convert between CAD and foreign currencies based on current market rates.
Conversion Results
Understanding How to Calculate Canadian Exchange Rates
Calculating the exchange rate for the Canadian Dollar (CAD) is a fundamental skill for travelers, international business owners, and investors. The "Loonie" fluctuates daily against major currencies like the USD, EUR, and GBP based on global supply and demand, oil prices, and Bank of Canada interest rates.
The Exchange Rate Formula
To calculate the value of your money, you need to know which way you are converting. Most exchange rates are quoted in terms of how many Canadian Dollars it takes to buy one unit of a foreign currency.
- Converting Foreign Currency to CAD: Amount × Exchange Rate = CAD Value
- Converting CAD to Foreign Currency: Amount ÷ Exchange Rate = Foreign Value
Example Calculation: USD to CAD
If you have $500 USD and the current exchange rate is 1.35 (meaning 1 USD = 1.35 CAD):
$500 × 1.35 = $675.00 CAD
Example Calculation: CAD to USD
If you have $1,000 CAD and want to know how many US Dollars you will receive at a rate of 1.35:
$1,000 ÷ 1.35 = $740.74 USD
Common Factors Affecting the CAD Exchange Rate
| Factor | Impact on CAD |
|---|---|
| Oil Prices | Since Canada is a major oil exporter, higher oil prices usually strengthen the CAD. |
| Interest Rates | Higher rates from the Bank of Canada attract foreign investment, increasing CAD value. |
| Inflation | Lower inflation relative to other countries typically increases the purchasing power of the CAD. |
Pro Tip: The Mid-Market Rate vs. Retail Rate
The rate you see on Google or news sites is the "Mid-Market Rate." When you go to a bank or an airport kiosk, they add a "spread" or commission (usually 2% to 5%). To get the most accurate calculation for your actual pocket, always add the bank's fee percentage to the current exchange rate before calculating.