EUR/CAD: what to know
The EUR/CAD rate shows how much CAD you get for 1 EUR. Right now, 1 EUR buys 1.6041 CAD at the mid-market rate. In the other direction, 1 CAD is worth 0.6234 EUR.
In the short term EUR is driven mainly by ECB policy and eurozone growth, while CAD responds to oil prices and the US economy.
The Euro (EUR) is issued by European Central Bank (ECB). The euro is the world’s second most-traded currency, after the US dollar. 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”.
Over the past 12 months the EUR/CAD rate has ranged between 1.5680 and 1.6393 — 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.