CAD/USD: what to know
The CAD/USD rate shows how much USD you get for 1 CAD. Right now, 1 CAD buys 0.7250 USD at the mid-market rate. In the other direction, 1 USD is worth 1.3793 CAD.
In the short term CAD is driven mainly by oil prices and the US economy, while USD responds to Fed policy, US growth and global risk appetite.
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 US Dollar (USD) is issued by Federal Reserve (Fed). Most of the world’s central-bank reserves are held in US dollars.
Over the past 12 months the CAD/USD rate has ranged between 0.7024 and 0.7394 — a change of +0.05% 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.