Buy Foreign Cash (Convert CAD to Foreign)
Sell Foreign Cash (Convert Foreign to CAD)
US Dollar (USD)
Euro (EUR)
British Pound (GBP)
Japanese Yen (JPY)
Australian Dollar (AUD)
Mexican Peso (MXN)
*Estimated rate pre-filled. Update with today's posted rate for accuracy.
Amount Converted:
Exchange Rate Applied:
You Receive:
Understanding TD Bank Currency Exchange Rates
When planning a trip abroad or managing international finances, understanding how banks like TD calculate exchange rates is crucial for budgeting. The TD Bank Currency Exchange Rate Calculator helps you estimate how much foreign currency you can buy with your Canadian Dollars (CAD), or how much CAD you will receive when selling leftover foreign cash.
How the Calculation Works
Banks typically use two different rates depending on the direction of the transaction. It is important to distinguish between "Cash Rates" (physical bills) and "Non-Cash Rates" (electronic transfers or drafts), as the fees and spreads often differ.
Buying Foreign Currency (CAD to Foreign): You pay CAD to receive foreign cash. The bank sells the currency to you at a higher rate. Formula: Amount in CAD ÷ Exchange Rate = Foreign Currency Received.
Selling Foreign Currency (Foreign to CAD): You hand over foreign cash to receive CAD. The bank buys the currency from you at a lower rate. Formula: Amount in Foreign × Exchange Rate = CAD Received.
Note on the "Spread": The difference between the buy rate and the sell rate is known as the spread. This is essentially the profit margin for the bank. If the mid-market rate for USD is 1.35, the bank might sell it to you at 1.38 and buy it back at 1.32.
Factors Influencing Your Rate at TD
While the calculator above uses indicative market rates, several factors determine the exact rate you will be offered at the counter or online:
Market Fluctuations: Currency markets move constantly. The posted rate in the morning may differ from the afternoon rate.
Transaction Amount: For significantly large exchanges, you may be eligible for "preferred rates" that are closer to the mid-market rate than standard counter rates.
Account Type: Customers with specific banking packages, such as the TD All-Inclusive Banking Plan, may receive waived transaction fees or preferential exchange rates on drafts and cheques.
Currency Volatility: Major currencies like USD, EUR, and GBP usually have tighter spreads. Exotic currencies may have wider spreads due to lower liquidity.
Tips for Getting the Best Value
To maximize your exchange value, consider exchanging larger amounts at once to consolidate fees. If you travel frequently to the US, consider opening a U.S. Dollar Borderless Plan to hold USD directly, avoiding the need to convert funds back and forth for every transaction.
// Indicative base rates (Approximate CAD per 1 Unit of Foreign)
// Structure: { Currency: { buyFromBank (We pay CAD), sellToBank (We get CAD) } }
// Note: 'buyFromBank' = Bank selling to customer (High rate). 'sellToBank' = Bank buying from customer (Low rate).
var currencyRates = {
"USD": { "buyFromBank": 1.39, "sellToBank": 1.31 },
"EUR": { "buyFromBank": 1.52, "sellToBank": 1.42 },
"GBP": { "buyFromBank": 1.80, "sellToBank": 1.68 },
"JPY": { "buyFromBank": 0.0095, "sellToBank": 0.0085 }, // Yen is usually per 1 unit, rare formatting handled below
"AUD": { "buyFromBank": 0.94, "sellToBank": 0.86 },
"MXN": { "buyFromBank": 0.085, "sellToBank": 0.065 }
};
// Initialize the rate on load
window.onload = function() {
updateExchangeRate();
};
function updateExchangeRate() {
var type = document.getElementById("transactionType").value;
var currency = document.getElementById("currencySelect").value;
var rateInput = document.getElementById("exchangeRate");
var rate = 0;
// Determine which rate to fetch
if (type === "buy") {
// Customer Buys Foreign, Bank Sells. Use Higher Rate.
rate = currencyRates[currency].buyFromBank;
} else {
// Customer Sells Foreign, Bank Buys. Use Lower Rate.
rate = currencyRates[currency].sellToBank;
}
rateInput.value = rate;
}
function calculateConversion() {
var amount = parseFloat(document.getElementById("inputAmount").value);
var rate = parseFloat(document.getElementById("exchangeRate").value);
var type = document.getElementById("transactionType").value;
var currency = document.getElementById("currencySelect").value;
var resultBox = document.getElementById("resultBox");
var displayOriginal = document.getElementById("displayOriginal");
var displayRate = document.getElementById("displayRate");
var displayFinal = document.getElementById("displayFinal");
if (isNaN(amount) || amount <= 0) {
alert("Please enter a valid amount greater than 0.");
return;
}
if (isNaN(rate) || rate <= 0) {
alert("Please ensure the exchange rate is valid.");
return;
}
var finalAmount = 0;
var originalLabel = "";
var finalLabel = "";
// Logic:
// Buy Foreign: Input is CAD. Output is Foreign. Formula: CAD / Rate
// Sell Foreign: Input is Foreign. Output is CAD. Formula: Foreign * Rate
if (type === "buy") {
// I have CAD, I want USD
finalAmount = amount / rate;
originalLabel = amount.toFixed(2) + " CAD";
finalLabel = finalAmount.toFixed(2) + " " + currency;
} else {
// I have USD, I want CAD
finalAmount = amount * rate;
originalLabel = amount.toFixed(2) + " " + currency;
finalLabel = finalAmount.toFixed(2) + " CAD";
}
// Formatting for display
displayOriginal.innerHTML = originalLabel;
displayRate.innerHTML = "1 " + currency + " = " + rate + " CAD";
displayFinal.innerHTML = finalLabel;
resultBox.style.display = "block";
}