CAD/EUR: what to know
The CAD/EUR rate shows how much EUR you get for 1 CAD. Right now, 1 CAD buys 0.6236 EUR at the mid-market rate. In the other direction, 1 EUR is worth 1.6037 CAD.
In the short term CAD is driven mainly by oil prices and the US economy, while EUR responds to ECB policy and eurozone growth.
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 Euro (EUR) is issued by European Central Bank (ECB). The euro is the world’s second most-traded currency, after the US dollar.
Over the past 12 months the CAD/EUR rate has ranged between 0.6100 and 0.6378 — a change of +0.64% 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.