1 USD to CAD - Convert US Dollar to Canadian Dollar

Over the last 7 days, the USD to CAD exchange rate moved between 1.3566 and 1.4165. The average rate for the week was 1.3825, with a volatility of 1.47%. The US Dollar weakened against the Canadian Dollar by 0.6% during this period.

Looking at the 30-day window, the USD/CAD pair traded in a range of 1.3342 to 1.4309. The monthly average was 1.3708 with 1.78% volatility. This upward movement of 2.1% suggests significant momentum in the USD/CAD exchange rate.

The current mid-market exchange rate is 1 USD = 1.3838 CAD, updated as of June 3, 2026, 11:41 PM 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.

US Dollar to Canadian Dollar Exchange Rate

USD/CAD, nicknamed the "Loonie" after the bird on the Canadian one-dollar coin, is one of the most liquid currency pairs globally. The deep economic integration between the US and Canada — with over $700 billion in annual bilateral trade — means this rate affects millions of businesses and individuals on both sides of the border daily. Cross-border shoppers, snowbirds wintering in the US, and exporters all track this pair closely.

Oil Prices and the Canadian Dollar

Canada is one of the world largest oil exporters, and crude oil revenues account for a significant share of export earnings. When oil prices rise, the Canadian Dollar tends to strengthen as more USD flows into Canada for energy purchases. The correlation is not perfect but remains one of the strongest commodity-currency relationships in forex. WTI crude prices, OPEC decisions, and US energy policy all indirectly affect the USD/CAD rate through this oil channel.

Cross-Border Shopping and Travel

Millions of Canadians live within 100 miles of the US border, making cross-border shopping a regular activity. A 5-cent move in USD/CAD changes the cost of a $500 US shopping trip by about $25 CAD. Snowbirds spending winters in Florida or Arizona face larger impacts — a seasonal stay costing $15,000 USD varies by $750-1,500 CAD depending on the rate. Timing large purchases or transfers to favorable rate periods can generate meaningful savings.

Interest Rate Differential

The Bank of Canada and the Federal Reserve set monetary policy independently but often move in tandem given the economic linkage. When the Fed raises rates faster than the BoC, the USD strengthens against CAD as investors seek higher US yields. Divergent rate paths create the biggest sustained moves in this pair. Employment data, inflation reports, and central bank speeches from both countries are the key scheduled events to watch.

Getting the Best USD/CAD Rate

Canadian banks charge 2-3% above mid-market for currency exchange. Credit unions sometimes offer better rates. Borderless accounts from fintechs let you hold and convert both currencies at near mid-market rates. For recurring cross-border payments like rent or mortgage in the other country, setting up automated transfers with rate alerts saves significant money over time.