1 CAD to JPY - Convert Canadian Dollar to Japanese Yen

Looking at the 30-day window, the CAD/JPY pair traded in a range of 111.4900 to 119.3762. The monthly average was 114.7640 with 1.68% volatility. The relatively low volatility indicates stable trading conditions for the CAD/JPY currency pair.

The current mid-market exchange rate is 1 CAD = 115.2021 JPY, updated as of June 4, 2026, 2:19 AM UTC. Mid-market rates represent the fairest available rate and are the midpoint between buy and sell prices on global currency markets. Actual transaction rates from banks or money transfer services may include a markup above this rate.

Canadian Dollar to Japanese Yen Exchange Rate

CAD/JPY combines Canada's oil-linked currency with Japan's safe-haven yen, creating a pair that moves on both energy markets and global risk sentiment. It is popular among traders who want exposure to oil price direction through a currency pair rather than trading crude directly, since the Canadian dollar closely tracks petroleum prices.

Trading Oil Through Currencies

Canada is one of the world's largest oil exporters, with crude accounting for a significant share of export revenue. Japan is one of the world's largest oil importers, buying nearly all its energy from abroad. This creates a natural divergence: rising oil prices help Canada (strengthening CAD) while hurting Japan (weakening JPY as its import bill rises), and vice versa. The result is that CAD/JPY amplifies oil price movements. When crude rallied from $20 to $120 between 2020 and 2022, CAD/JPY surged from 73 to 107. When oil corrected, CAD/JPY pulled back. This oil sensitivity makes the pair a favorite among macro traders who view energy as the defining theme of their investment thesis. It also means CAD/JPY carries both commodity risk and the yen's safe-haven characteristics, creating large moves during periods when oil markets and risk sentiment shift simultaneously.

What Drives the CAD/JPY Rate

Oil prices are the dominant factor. Bank of Canada and BOJ interest rate decisions, Canadian employment data, Japanese trade balance, global risk appetite, and equity market direction all contribute. The pair tends to correlate with global stock indices because both the risk-on CAD and risk-off JPY respond to the same sentiment shifts. When stocks rally and oil rises, CAD/JPY typically climbs. During selloffs, it usually drops.

What a Conversion Really Costs

CAD/JPY is moderately liquid. Banks charge 1.5-3%. Online services offer 0.5-1.5%. For Canadians visiting Japan, direct CAD/JPY conversion avoids the extra cost of converting through USD. In Japan, convenience store ATMs offer reasonable rates for international card withdrawals. Canadian banks that serve the Japanese community can sometimes offer competitive rates for larger amounts.

How to Get the Best CAD to JPY Rate

Compare the mid-market rate on this page with your provider. Look for direct CAD/JPY conversion to avoid double-spread through USD. In Japan, 7-Eleven ATMs work well with Canadian bank cards. Given the pair's oil sensitivity, monitoring crude prices can help time conversions for favorable windows. For businesses in the Canada-Japan trade corridor, forward contracts are a practical way to lock in rates for scheduled payments, removing the oil price uncertainty that makes CAD/JPY one of the more volatile commodity-linked cross pairs.