CAD to USD Exchange Rate
LIVECanadian Dollar to US Dollar
Currency Converter
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Exchange rate: 1 CAD = 0.71 USD (approximate)
About CAD/USD
The CAD/USD currency pair represents the exchange rate between the Canadian Dollar and the US Dollar, commonly known as "the Loonie" after the bird depicted on the Canadian one-dollar coin. This pair is heavily influenced by commodity prices (especially crude oil, as Canada is a major oil exporter), interest rate differentials between the Federal Reserve and Bank of Canada, US-Canada trade relations, and broader North American economic trends. The Canadian Dollar often moves in tandem with oil prices.
Quick Facts
Currency Pair:
CAD/USD
Base Currency:
Canadian Dollar (CAD)
Quote Currency:
US Dollar (USD)
Central Bank:
Bank of Canada
Trading Hours:
24/5 (Forex Market)
Frequently Asked Questions
What does CAD/USD mean?
CAD/USD is the value of one Canadian Dollar quoted in US Dollars. The Canadian Dollar (managed by the Bank of Canada) is the base currency and the US Dollar (managed by the Federal Reserve) is the quote currency, so the rate shows how many US Dollars one Canadian Dollar is worth.
What moves the CAD/USD exchange rate?
Canada is a leading oil exporter, so the Canadian Dollar often moves with crude-oil prices. Interest-rate differences between the Bank of Canada and the Federal Reserve, the tightly linked US and Canadian economies, and cross-border trade flows are the other main drivers of the pair.
Is the CAD/USD rate fixed or floating?
Both the Canadian and US Dollars float on the open market, so the exchange rate is determined by supply and demand and changes constantly while forex markets are open on weekdays. Published rates are only momentary reference points.