How to read CAD to USD
CAD to USD is the number of USD (US Dollar) that 1 CAD (Canadian Dollar) buys. The opposite direction is USD to CAD.
The European Central Bank publishes its reference rates against the euro, so CAD to USD is a cross rate, derived from the two published figures for CAD and USD. The rate for this pair is (USD per EUR) ÷ (CAD per EUR).
Who converts CAD to USD
Canadian dollars to US dollars is used by Canadians who shop online from US stores, travel south, own property in the United States or earn US income. Cross-border commuters and businesses with American customers also convert it often. Since both countries use a dollar, the main risk is mixing up which currency a price is in, and the code on this page removes that confusion.
Facts about this pair
- CAD is ISO 4217 code 124 and USD is code 840; the three letter codes are what the converter and the ECB use to tell currencies apart.
- Both currencies are written with 2 decimal places in ISO 4217, so a result in USD is rounded to 2 decimal places.
- The reverse pair is the reciprocal: the USD to CAD rate is 1 divided by the CAD to USD rate, apart from rounding.
Canadian buyers often hold a card in Canadian dollars, so a US purchase is converted by the card network or the issuer. If a US website offers to show prices in Canadian dollars, compare its conversion with the figure from this page, because a site's own display rate can be less favourable than your card's.
The Canadian Dollar and the US Dollar
| Detail | Canadian Dollar | US Dollar |
|---|---|---|
| ISO code | CAD | USD |
| Symbol | C$ | $ |
| Central bank | The Bank of Canada | The Federal Reserve System |
| Minor unit | cent, 1/100 of the main unit | cent, 1/100 of the main unit |
| Used in | Canada | The United States and its territories, and it is official or widely used in some other economies such as Ecuador and El Salvador |
Canada's one-dollar coin is nicknamed the loonie. It is the most widely held reserve currency, and many commodities, including crude oil, are priced in it.
Getting a fair rate on CAD to USD
For frequent cross-border spending, a card or account that holds both currencies can avoid repeated conversion fees. If you are converting a large amount, ask for the quoted rate before you agree and check it against this page.
If you are buying from a US retailer, compare shipping, duties and taxes as well as the converted price. Orders shipped into Canada can attract duty, sales tax and carrier handling fees, so a lower dollar price may not be cheaper in the end. Use this page to convert the price, then add the extra costs to get the total landed cost.
The Canadian dollar has traded both below and above the US dollar over the years, so the size of the figure alone does not show a mistake. If the result surprises you, check the direction of the quote.
Where the rate comes from
The rate loads in your browser from Frankfurter, which republishes European Central Bank reference rates. They are published on working days for information only, and a bank is not obliged to deal at them. If the service cannot be reached the page shows no number, except a rate saved in your browser within six hours, marked as cached. How the rates work is explained on the currency pairs page. Nothing here is financial advice.
FAQ
What does CAD to USD mean?
It is the number of US dollars you receive for one Canadian dollar. Multiply a Canadian dollar amount by the rate to get US dollars.
Why is the figure less than one?
Because it states US dollars per Canadian dollar, and in recent years the Canadian dollar has been worth less than the US dollar. That has not always held, since the two were close to parity around 2010 to 2013, and the number moves with the market.
Is there a fee in the result?
No. The result is based on the mid-market reference rate with no fees or margins. Banks and cards may add their own charges.
How can I tell which dollar a price is in?
Look for the code CAD or USD, or a prefix like C$ or US$. Canadian retail sites usually default to Canadian dollars, and US sites to US dollars.
More currency pairs
Other pairs on this site, each with its own latest rate and notes:
- USD to CAD: the same exchange read the other way.
- AUD to USD: another route into USD.
- EUR to USD: another route into USD.
- GBP to USD: another route into USD.
- CNY to USD: another route into USD.
- JPY to USD: another route into USD.
- USD to PHP: a related pair.
- USD to KRW: a related pair.
- All currency pairs: the full list.
- Currency converter: choose any two of the supported currencies.