About these exchange rates
Our currency converter uses official reference rates: the euro foreign exchange reference rates published every working day by the European Central Bank, and the Bank of Canada's daily USD/CAD rate. Rates are refreshed automatically several times a day. Today 1 U.S. dollar equals about 1.3960 Canadian dollars (Rates as of October 30, 2026).
Why your bank's rate is different
Reference rates are mid-market rates — halfway between the price at which banks buy and sell a currency. When you exchange money, banks, card networks and exchange counters add a margin (spread) and sometimes a fee. Typical costs:
- Credit cards without foreign transaction fees: usually closest to the reference rate.
- Regular credit and debit cards: often 2.5%–3% foreign transaction fee.
- Bank wire transfers: a spread of 1%–4% plus a flat fee.
- Airport exchange counters: commonly 5%–10% worse than the reference rate.
Tip: when a card terminal or ATM abroad offers to charge you in your home currency ("dynamic currency conversion"), decline and pay in the local currency — the conversion rate offered is almost always worse.
USD to CAD: what moves the exchange rate?
The Canadian dollar (nicknamed the "loonie") is strongly influenced by interest-rate differences between the Bank of Canada and the U.S. Federal Reserve, oil and commodity prices, and trade between the two countries. When the Fed holds rates higher than the Bank of Canada, the U.S. dollar tends to strengthen against the loonie.
Cross-border shopping and travel
If you shop online from the U.S. as a Canadian (or vice versa), remember that duties, sales tax and brokerage fees may be added at the border. Use our sales tax calculator to estimate GST/HST and state sales taxes.
Rates are for information only and are not an offer to buy or sell currency. Check with your bank or provider for the exact rate you will receive.
Frequently asked questions
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Sources & methodology
This calculator was last reviewed on November 1, 2026. Figures are based on the following official and primary sources:
- Bank of Canada – Daily exchange rates
- European Central Bank reference rates (via Frankfurter) & Bank of Canada
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