CAD/AUD: what to know
The CAD/AUD rate shows how much AUD you get for 1 CAD. Right now, 1 CAD buys 1.0060 AUD at the mid-market rate. In the other direction, 1 AUD is worth 0.9940 CAD.
In the short term CAD is driven mainly by oil prices and the US economy, while AUD responds to commodity prices and Chinese demand.
The Canadian Dollar (CAD) is issued by Bank of Canada. The C$1 coin is the “loonie” (after the loon bird) and the C$2 is the “toonie”. The Australian Dollar (AUD) is issued by Reserve Bank of Australia. Australia pioneered polymer banknotes in 1988 — more durable and harder to counterfeit.
Over the past 12 months the CAD/AUD rate has ranged between 1.0032 and 1.1073 — a change of -9.04% versus a year ago.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.