USD to CAD Exchange Rate: Convert US Dollars to CAD

If you’ve ever tried to figure out exactly how many Canadian dollars you’ll get for your US dollars, you know the number seems to change every time you refresh the page. The real rate comes from official sources like the Bank of Canada, and understanding it can save you real money on transfers or travel.

Current mid-market rate (1 USD to CAD): 1.38 CAD ·
Average monthly volatility: ±2.5% over last 12 months ·
Most traded currency pair (USD/CAD): 3rd most traded in forex markets ·
Bank of Canada reference rate: Daily, updated at 16:30 ET

Five key data points sum up the conversion landscape at a glance, from the official benchmark to the hidden costs that often surprise consumers.

What is the current USD to CAD exchange rate?

Mid-market rate vs bank rate

• The mid-market rate is the wholesale rate used by banks when trading among themselves — it’s the truest benchmark. As of April 9, 2025, that rate is about 1.38 CAD per USD, according to Xe (currency data provider).
• Banks and exchange kiosks add a markup of 1% to 3% on top of the mid-market rate. That means the effective rate you see on your bank’s app could be 1.40 or higher, as Western Union (money transfer service) warns.

Where to find live rates

• The Bank of Canada (Canada’s central bank) publishes its own daily rate each business day by 16:30 ET. That rate is based on the average of trading data.
• Other reliable live sources include Xe (mid-market), Revolut (digital banking platform), and the currency converters at TD Canada Trust (major Canadian bank) or RBC Bank (Canadian bank).

The pattern is clear: the mid-market rate sets the floor, but the real cost includes a markup that varies by provider. For travelers and remitters, the gap between the two determines how many Canadian dollars actually land in your pocket.

How do I convert US dollars to Canadian dollars?

Using online converter tools

• Online tools like Xe, the Bank of Canada (Canada’s central bank), and Revolut (digital banking platform) let you enter any USD amount and get an instant result based on current rates.
• These tools typically display the mid-market rate and may also show any fees if you proceed to a transfer.

Manual calculation method

• Multiply your USD amount by the current exchange rate to get the Canadian dollar equivalent, as explained by DNBC Financial Group (global payment provider).
• Example: 100 USD × 1.38 = 138 CAD.
• If you need to convert CAD back to USD, divide the CAD amount by the rate (indirect method).

Step-by-step conversion process

1. Find the current mid-market rate — use Xe (currency data provider) or the Bank of Canada (Canada’s central bank).
2. Multiply your USD amount by that rate for a manual reference conversion. For 100 USD, that’s about 138 CAD.
3. Use a converter tool to double-check — enter the amount and note the exact rate used.
4. Compare the rate with what your bank or transfer service offers — ask for the rate including all fees, as recommended by MTFX (currency transfer specialist).
5. If exchanging cash, check pickup timelines — TD Canada Trust (major Canadian bank) notes that foreign currency cash can be ordered for pick-up within 3 to 7 business days.

Why this matters: the difference between a 1% and 3% markup on a $1,000 transfer is $20 — that’s a dinner you could have bought in Canada.

What is 100 US dollars in Canadian dollars?

100 USD to CAD exactly

• At the current mid-market rate of 1 USD = 1.38 CAD, 100 US dollars equals 138 Canadian dollars. This is based on data from Xe (currency data provider).
• The actual amount you receive may be lower if a bank or transfer service applies a markup. For example, with a 2% markup, you’d get about 135 C AD.

Conversion for other common amounts

• 23 USD → multiply 23 × 1.38 = 31.74 CAD
• 20 USD → 20 × 1.38 = 27.60 CAD
• 30 USD → 30 × 1.38 = 41.40 CAD
• 50 USD → 50 × 1.38 = 69.00 CAD
• 500 USD → 500 × 1.38 = 690.00 CAD

For a quick reference, remember: every 10 USD gives you roughly 13.80 CAD at current rates. That mental shortcut lets you ballpark any amount without a calculator.

Where can I find the official exchange rate from the Bank of Canada?

Bank of Canada currency converter

• The Bank of Canada (Canada’s central bank) offers an online currency converter that uses its own published rates. This is the most authoritative source for USD/CAD within Canada.
• The converter applies the daily rate and calculates the converted amount automatically.

Daily rate publication

• Rates are updated each business day by 16:30 Eastern Time.
• The rate is based on the average of trading data collected from financial institutions. As of the latest publication, the Bank of Canada reference rate for USD/CAD is 1.3821.

The Bank of Canada’s daily publication gives you a consistent, government-verified benchmark. For actual transactions, compare that number against what your provider offers, and accept nothing higher than mid-market plus a small justified fee.

What is the USD to CAD exchange rate chart showing?

Historical rate trends

• Over the past five years, the USD/CAD rate has fluctuated in a range of roughly 1.20 to 1.40, with the Canadian dollar weakening during periods of low oil prices and strengthening when commodity markets rise.
• In 2025 alone, the rate has moved between 1.36 and 1.47, according to Western Union (money transfer service). OFX (foreign exchange data provider) shows specific historical points: 1.3786 on Dec 31, 2024, and 1.3661 on May 17, 2025.

Factors influencing rate changes

• Oil prices — Canada is a major oil exporter; higher oil prices tend to strengthen the CAD.
• Interest rate differentials — when the U.S. Federal Reserve raises rates faster than the Bank of Canada, money flows to U.S. dollar assets, pushing USD/CAD higher.
• Economic data — employment reports, GDP growth, and trade balances can cause daily shifts.

A chart of USD/CAD over the last five years shows a generally strengthening U.S. dollar, with sharp jumps around monetary policy announcements. For anyone sending money regularly, watching these trends can help time transfers to get a better rate.

“The Bank of Canada’s exchange rates are published each business day by 16:30 ET, based on the average of trading data from financial institutions.”

— Bank of Canada (Canada’s central bank)

“Axe’s mid-market rate is the rate used by banks and currency dealers when trading among themselves — it’s the truest benchmark for any conversion.”

— Xe (currency data provider) spokesperson

The two sources — one official, one commercial — converge on the same principle: the mid-market rate is the baseline. The difference is in how much extra you’ll pay to access it.

For anyone sending money from the U.S. to Canada, the choice is clear: compare the total cost (rate + fees) across at least three providers before hitting send. The difference between a 1% and 2.5% markup on a $2,000 transfer is $30 — that’s a full week of groceries in most Canadian cities.

For larger amounts, the same principles apply as when converting $25,000 USD to CAD, where rate fluctuations can significantly impact the final total.

Frequently asked questions