USD to CAD Exchange Rate
LIVEUS Dollar to Canadian Dollar
Currency Converter
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Exchange rate: 1 USD = 1.41 CAD (approximate)
About USD/CAD
The USD/CAD currency pair represents the exchange rate between the US Dollar and the Canadian Dollar. Often called "the Loonie," this is one of the most actively traded commodity currency pairs. The rate is heavily influenced by crude oil prices (Canada is a major oil exporter), interest rate differentials between the Fed and Bank of Canada, cross-border trade flows, and North American economic data. Higher oil prices typically strengthen the Canadian Dollar, causing USD/CAD to fall.
Quick Facts
Currency Pair:
USD/CAD
Base Currency:
US Dollar (USD)
Quote Currency:
Canadian Dollar (CAD)
Central Bank:
Bank of Canada
Trading Hours:
24/5 (Forex Market)
Frequently Asked Questions
Why is the Canadian Dollar called the Loonie?
The nickname comes from the image of a loon, a Canadian water bird, on the one-dollar coin. Traders widely use "Loonie" to refer to the Canadian Dollar and the USD/CAD pair.
How do oil prices affect USD/CAD?
Canada is a major oil exporter, so rising crude prices tend to support the Canadian Dollar and push USD/CAD lower, while falling oil prices often weaken the CAD and lift the pair.
What central banks influence this pair?
The US Federal Reserve and the Bank of Canada both set interest rates that shape the rate. Differences in their policy stance and the resulting yield gap are key drivers of USD/CAD.