Scotiabank Foreign Exchange Rates Calculator
Buy Foreign Currency (Paying CAD)
Sell Foreign Currency (Receiving CAD)
Canadian Dollar (CAD)
US Dollar (USD)
Euro (EUR)
British Pound (GBP)
Mexican Peso (MXN)
US Dollar (USD)
Canadian Dollar (CAD)
Euro (EUR)
British Pound (GBP)
Mexican Peso (MXN)
*This calculation is based on estimated Scotiabank retail margins (approx. 2.5% to 3.5% from mid-market). Actual rates at branches or online banking may vary based on transaction size and real-time fluctuations.
Understanding Scotiabank Foreign Exchange Rates
When you exchange money at Scotiabank, whether for travel, international business, or personal transfers, the rate you receive is not the "mid-market" rate seen on Google or Reuters. Commercial banks apply a retail spread to the exchange rate to cover operational costs and provide the service.
Our Scotiabank Foreign Exchange Rates Calculator helps you estimate how much foreign currency you will receive or how much CAD you need to spend based on typical Scotiabank retail margins. These rates apply to physical cash, bank drafts, and wire transfers.
Scotiabank "Buy" vs "Sell" Rates
It is crucial to understand which rate applies to your transaction:
- The Buy Rate: This is the rate the bank uses when they are buying foreign currency from you (i.e., you are giving them USD and they are giving you CAD).
- The Sell Rate: This is the rate the bank uses when they are selling foreign currency to you (i.e., you are giving them CAD to get USD).
Typical Exchange Examples
| Currency Pair | Type | Example Amount | Estimated Output |
|---|---|---|---|
| CAD to USD | Bank Sell (Travel) | 1,000 CAD | $715.00 USD |
| USD to CAD | Bank Buy (Return) | 1,000 USD | $1,320.00 CAD |
| CAD to EUR | Bank Sell (Travel) | 1,000 CAD | €660.00 EUR |
Factors Influencing Scotiabank Rates
Several factors can change the final rate you receive at a Scotiabank branch:
- Market Volatility: Forex markets move 24/5. Rates are updated frequently throughout the business day.
- Transaction Method: Online banking often offers slightly better rates than physical cash exchanged at a branch.
- Amount: Large commercial exchanges (usually over $10,000 CAD) may be eligible for "preferred" or negotiated rates.
- Currency Popularity: Major currencies like USD, EUR, and GBP have tighter spreads than "exotic" currencies like the Thai Baht or Brazilian Real.
How to Save on Currency Exchange
To get the most out of your money at Scotiabank, consider using a Scotiabank US Dollar account if you travel frequently to the United States. This allows you to hold USD when rates are favorable and spend them without multiple conversion hits. Additionally, using Scotiabank's Global Alliance ATMs can help you avoid some out-of-country withdrawal fees, though exchange rates still apply.