How to read USD to CAD
USD to CAD is the number of CAD (Canadian Dollar) that 1 USD (US Dollar) buys. The opposite direction is CAD to USD.
The European Central Bank publishes its reference rates against the euro, so USD to CAD is a cross rate, derived from the two published figures for USD and CAD. The rate for this pair is (CAD per EUR) ÷ (USD per EUR).
Who converts USD to CAD
The dollar to Canadian dollar pair connects two closely linked trading partners. People who live near the border, snowbirds who spend winters in the south, shoppers on both sides, cross-border workers and businesses with customers in the other country all convert it. Because both currencies are called dollars, many price tags need to be checked for the currency before you compare them.
Facts about this pair
- USD is ISO 4217 code 840 and CAD is code 124; 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 CAD is rounded to 2 decimal places.
- The reverse pair is the reciprocal: the CAD to USD rate is 1 divided by the USD to CAD rate, apart from rounding.
Prices in Canada are usually shown before sales tax, which varies by province, and the same is true of most American prices. When you compare two prices across the border, convert both before tax and then apply each side's tax to see the real totals. Comparing a taxed price with an untaxed one is the commonest error.
The US Dollar and the Canadian Dollar
| Detail | US Dollar | Canadian Dollar |
|---|---|---|
| ISO code | USD | CAD |
| Symbol | $ | C$ |
| Central bank | The Federal Reserve System | The Bank of Canada |
| Minor unit | cent, 1/100 of the main unit | cent, 1/100 of the main unit |
| Used in | The United States and its territories, and it is official or widely used in some other economies such as Ecuador and El Salvador | Canada |
It is the most widely held reserve currency, and many commodities, including crude oil, are priced in it. Canada's one-dollar coin is nicknamed the loonie.
Getting a fair rate on USD to CAD
If a seller gives you the choice of paying in US or Canadian dollars, work out both totals with this page and pick the cheaper after your card's own foreign fee. Card networks often give a better rate than the merchant's own conversion.
If you cross the border often, look at whether your bank offers a cross-border account that holds both currencies, which allows you to pay in each currency without repeated conversion. When you buy something priced in Canadian dollars with a US card, check the receipt to see whether the charge went through in Canadian or US dollars, because it affects which rate was used.
Both countries use the dollar sign. Look for the code CAD or the prefix C$, or the code USD, to confirm which dollar a price is in.
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 USD to CAD mean?
It is the number of Canadian dollars you get for one US dollar. Multiply a US dollar amount by the rate to get Canadian dollars.
Why do Canadian and US dollars use the same sign?
Both currencies are called dollars and use the $ sign. The codes CAD and USD are what tell them apart, and prices on cross-border sites should state which is used.
Does the rate shown here include my bank's fees?
No. It is the mid-market ECB reference rate without fees or margins. Your bank or card issuer may add a percentage on top for foreign currency transactions.
Can I look at the history of this pair?
Yes. The chart on this page covers roughly the last month of published reference rates and lists the lowest, highest and latest values in text.
More currency pairs
Other pairs on this site, each with its own latest rate and notes:
- CAD to USD: the same exchange read the other way.
- USD to TRY: another way to spend USD.
- USD to JPY: another way to spend USD.
- USD to MXN: another way to spend USD.
- USD to AUD: another way to spend USD.
- USD to INR: another way to spend USD.
- USD to PHP: another way to spend USD.
- USD to KRW: another way to spend USD.
- All currency pairs: the full list.
- Currency converter: choose any two of the supported currencies.