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US dollar to Canadian dollar exchange rates

Everything you need to know about Canada’s national currency, its history against US dollars and Canadian Dollar to USD conversions.

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The latest on USD to CAD exchange rates

It's difficult to forecast the future US dollar to Canadian dollar exchange rate. Many factors, including political, economic, and environmental events can influence the value of both US and Canadian currency. However, we hope our historic rates graphs can guide you in your decision to purchase Canadian dollars.

One American dollar currently exchanges at a rate of CAD.

To see the today's Canadian dollar exchange rate and compare historic rates year on year, head over to our exchange rates page.

Coming back from Canada and have leftover currency? You can exchange your CAD to USD by mailing it in or visiting any of our Travelex locations. Check out the Sell Your Foreign Currency page to learn more!
The latest on USD to CAD exchange rates

Need to convert US Dollars to Canadian Dollars?

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The lowdown on the Canadian dollar

Way back in the early 16th century Canada began to establish its currency, but instead of using coins, the likes of furs, wampum shells and, at one point, playing cards were actually considered tradeable currency. With colonization by France and England in the 18th and 19th centuries, coins began to be introduced – and these days, shells are unfortunately no longer considered legal tender, so don’t waste your time searching on the beach!

With a coin shortage throughout the 18th and 19th centuries, there were never enough coins in Canada to go around. It took the public a little while to trust paper money when it was introduced in the early 19th century and by 1837, banks were importing tokens from England known as Papineaus. In 1841, the Province of Canada adopted the Canadian pound, a new system based on the Halifax Rating. However, the Canadian authorities were determined to align with the US dollar over the British pound and by 1894, the Canadian dollar was fully introduced across the country.

These days, the Canadian dollar is the 5th most held reserve currency in the world and accounts for approximately 2% of all global reserves. You might hear it referred to as the loonie, because of the image of a loon bird on the one dollar coin, or as the huard in French.

A look back at the exchange rates from usd to cad

Back in 1864, the Canadian dollar reached its highest ever rate against the US dollar when the US temporarily abandoned the gold standard: an unprecedented amount of $2.78 to C$1.

Although most currencies in the Bretton Woods system had fixed values, the Canadian dollar was instead a floating currency between 1950 and 1962, reaching a high of $1.0614 to $C1 on August 20 1957. Falling considerably after 1960, the Canadian dollar returned instead to a fixed exchange rate, pegged against the US dollar at $0.925 to C$1. It remained here until 1970, where inflation meant that it returned to a free floating currency and peaked at $1.0443 in April 1974.

During the USA’s technological boom of the 1990s, the Canadian dollar fell against the US dollar, trading at its lowest ever rate of just $0.6179 to C$1 on January 21 2002.

The dizzy heights of 2007

In 2007, rates rose again sharply thanks to a strong Canadian economy, bringing the Canadian dollar and US dollar at par on September 20, 2007 for the first time since the heady days of 1976. By September 28 rates had continued to rise to $1.0052, and to $1.1024 by November 7.

However, by November 30 the rates had started to slow back down, putting the two currencies again at par. December 4 saw the US dollar falling back to $0.98 and by March 2009, the US dollar has fallen all the way to $0.77. It steadily rose back above the Canadian dollar and was sitting at $1.053 by July 2011, with a steady decline back down ever since.

Find out more about Canadian currency on our Canadian dollars page.

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