The live Canadian-dollar-to-yen rate, updated every minute. Book CAD→JPY with SummitFX on WhatsApp — same-day yen settlement when you transact during the European morning.
Use the tabs to view the last week, month, year, or five years of daily closing rates. The shaded band shows the high-low range for the period — a quick visual read on volatility.
Type in either box — enter a CAD amount to see what you'd get in JPY, or enter a target JPY amount to see how many Canadian dollars you'd need. Calculated at the live mid-market rate shown above.
Note: The rate shown is the live mid-market rate. Your actual executable rate includes a small spread — typically 0.5–0.9% at SummitFX vs 2–4% at a UK high street bank. We'll always show the full breakdown before you book.
CAD/JPY — sometimes called 'the loonie-yen' — is a carry-trade pair similar in character to AUD/JPY but with smaller market volumes. Canada historically runs higher interest rates than Japan, incentivising borrowing yen at near-zero cost and investing in higher-yielding Canadian assets. The pair moves on relative BoC-BoJ policy, oil prices (Canada's dominant export), US economic data (because Canadian growth tracks US growth closely), and global risk sentiment. CAD/JPY is one of the cleaner expressions of oil-versus-safe-haven dynamics — when oil rallies, CAD/JPY tends to rise; in stress episodes, both oil sells off and JPY strengthens, pushing the pair sharply lower.
Bank of Canada policy: The BoC sets Canadian interest rates and meets eight times a year. The post-meeting Monetary Policy Report and Tiff Macklem's press conference are the biggest scheduled CAD events. The BoC-BoJ policy gap is structurally wide given Japan's ultra-loose history, making CAD/JPY especially sensitive to BoC decisions.
Oil prices: Canada is the fifth-largest oil producer globally and oil exports are a meaningful share of GDP. Rising oil prices typically support CAD; falling oil weighs on it. WTI is the relevant benchmark. Oil price moves are the single most distinctive CAD driver — and especially relevant for CAD/JPY because Japan is a major oil importer (oil weakness can simultaneously weaken CAD and strengthen JPY through Japanese trade balance improvements).
US data dependency: Around 75% of Canadian exports go to the US, so Canadian growth is intimately linked to US demand. US non-farm payrolls and CPI prints often move CAD as much as Canadian-specific data — sometimes more.
Canadian housing: The Canadian housing market is a major macro variable — both as a wealth effect on consumer spending and as a financial stability concern for the BoC. Housing-sector data and BoC commentary on financial stability can move the loonie.
Risk sentiment and oil correlation: CAD is moderately risk-on. In bullish global markets it strengthens; in stress episodes it weakens against safe havens including JPY. The CAD-oil correlation amplifies both directions in CAD/JPY because oil moves often correlate with risk sentiment.
Bank of Japan policy: The BoJ has historically run the world's loosest monetary policy. Slow normalisation under Governor Kazuo Ueda is now under way; every BoJ meeting is closely watched for hints of further policy shifts. Decisions and the post-meeting press conference are the biggest scheduled JPY events.
Safe-haven repatriation: Japanese institutional investors hold trillions in foreign assets. In stress episodes they repatriate capital home, generating massive JPY buying. This is why JPY strengthens sharply in 'risk-off' even though Japan often has the lowest yields. CAD/JPY is sensitive to these flows because CAD often weakens simultaneously on oil and risk-off.
MoF intervention threat: Japan's Ministry of Finance has a history of FX intervention. Verbal warnings ('excessive moves', 'speculative behaviour') often precede actual intervention. Intervention typically targets USD/JPY but affects CAD/JPY through the broader yen complex.
Japanese inflation: Japan emerged from chronic deflation only recently. Sustained inflation above 2% justifies BoJ normalisation; soft prints push expectations the other way. CPI moves the yen disproportionately because it's such a meaningful policy signal.
Fiscal year-end (March): Japanese institutions rebalance around 31 March. Repatriation flows in February-March often strengthen JPY; April typically sees yen weakness as new fiscal-year outbound flows resume. This is a predictable seasonal pattern in CAD/JPY.
Canada and Japan share strong commercial ties strengthened by the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership), which entered into force between the two countries in 2018. Bilateral trade is worth around C$30 billion annually. Canadian exports include lumber, pulp and paper, oil, coal, copper, and agricultural products; Japanese exports to Canada include automobiles, machinery, and consumer electronics. Beyond trade, the corridor has substantial depth from Japanese auto manufacturing operations in Canada — Honda Canada, Toyota Canada, and Mitsubishi maintain major Canadian manufacturing and distribution operations generating constant CAD-JPY treasury flow. Japanese institutional investors are also significant holders of Canadian government bonds.
Japan is 13-14 hours ahead of Toronto and 8-9 hours ahead of central Europe. To get same-day yen delivery from European-routed transactions, the conversion needs to happen during the European morning so the Japanese banking day is still active.
Three things most commonly cause CAD→JPY transfers to slip past same-day:
Late CAD funding. Our cutoff is 12:00 UK time for same-day yen settlement — earlier than most pairs because Japanese banks close in the European morning. CAD wires from Canada need to be sent during the previous Canadian business day or very early Canadian morning to reach Europe before our cutoff.
Japanese intermediary bank routing. SWIFT wires to smaller Japanese banks may route through a Tokyo correspondent (Mizuho, MUFG, SMBC are the typical hubs). This adds processing time. Major Japanese megabanks credit fastest.
Japanese public holidays. Japan has more public holidays than most major economies — including Golden Week (late April/early May), Obon (mid-August), Silver Week (September), and the multi-day New Year period in early January. Japanese banks close entirely on these days.
For tight yen deadlines — Japanese property completions, supplier payments, large corporate transfers — book the day before or use forward contracts. Forwards are particularly useful for CAD/JPY given the pair's volatility and oil-driven character.
CAD/JPY is the corridor for Canadian residents and businesses with meaningful yen-denominated obligations, plus anyone with Japanese property, business interests, or family ties. Common use cases:
Honda Canada, Toyota Canada, and Mitsubishi maintain major Canadian manufacturing facilities and distribution operations — Honda's Alliston plant in Ontario produces vehicles for North American export, and Toyota's Cambridge and Woodstock plants are similarly significant. These operations generate constant CAD-JPY treasury flow for parts imports, royalty payments, and operational costs.
Canadian businesses sourcing Japanese cars (Toyota, Honda, Mazda, Mitsubishi, Subaru, Lexus, Acura), electronics, machinery, and specialist manufacturing. Tight spreads on regular high-volume payments protect margin.
Canadian lumber, pulp and paper, coal, copper, and agricultural exporters receiving JPY revenue from Japanese buyers. While most contracts price in USD, JPY-denominated invoicing exists for some shipments. Repatriating JPY receipts to CAD or hedging future shipments via forward contracts is standard practice for some Canadian exporters.
Canadian buyers purchasing Japanese property — Tokyo apartments, Kyoto traditional homes, Niseko ski properties (a particularly active corridor given Niseko's popularity with Canadian skiers). Forward contracts protect deal economics from currency moves during the typical few-weeks-to-months conveyancing window.
Canadian students at Japanese universities (Tokyo, Kyoto, Osaka), exchange programmes, or working holiday visa holders supported by Canadian-based families. Predictable payment schedules suit forward contracts.
Japanese institutional investors (life insurers, pension funds, GPIF) hold meaningful Canadian government bond positions. Topping up or rebalancing these positions generates JPY-CAD flow at scale, even though this is largely institutional rather than retail.
You can convert Canadian dollars to yen through your bank, through a transfer app, or through a broker. CAD/JPY is moderately liquid given the Canadian-Japanese auto sector and trade flows, but bank markups remain wide for retail customers — making broker access valuable.
Everything clients typically ask about sending Canadian dollars to yen. Still have questions? Message us on WhatsApp — a real dealer, not a bot, will reply.
We never forecast — but the chart above puts today's rate in context. CAD/JPY is volatile because both currencies move on distinct dynamics — CAD on oil and US data, JPY on BoJ policy and safe-haven flows. The pair often amplifies global risk sentiment. Rate alerts let you set a target and wait passively rather than guessing on macro.
Canadian and Japanese banks typically mark up CAD/JPY by 2–4% for retail customers. SummitFX spreads are 0.5–0.9% depending on size. On a C$500,000 corporate or property transfer that's a saving of C$10,000–C$22,500 in your favour.
Book and fund by 12:00 UK time on a business day and yen typically lands in your beneficiary's Japanese account the same Japanese business day. The early UK cutoff exists because Japanese banks close in our morning. Late bookings settle T+1 in Japanese terms.
Yes — and it's particularly valuable for this pair given CAD/JPY's volatility. A forward contract fixes today's rate for delivery up to 24 months ahead. You pay a deposit (typically 5–10% of the trade) upfront and settle the balance at delivery. Common for Niseko property purchases, Japanese supplier contracts, and ongoing auto sector treasury operations.
No hard minimum — we handle trades from C$500 to C$5m+. Below around C$5,000 the spread widens slightly to cover fixed execution costs. For recurring smaller payments, market orders or standing arrangements work better than ad-hoc bookings.
The rate shown on Google, XE, or the chart above is the mid-market rate — the midpoint of interbank buy and sell quotes. Nobody gets exactly that rate; providers add a margin. Banks typically 2–4%, Wise 0.6–0.9%, SummitFX 0.5–0.9% — with our clients also getting a named dealer and WhatsApp access.
Oil affects both sides of CAD/JPY in the same direction. Canada is a major oil exporter — rising oil prices support CAD through trade balance and government revenue. Japan is a major oil importer — rising oil prices weaken JPY through worsening Japanese trade balance. Both effects push CAD/JPY higher when oil rallies, and both push lower when oil falls. This makes CAD/JPY one of the cleanest expressions of oil price dynamics in the major FX complex.
Your rate is locked the moment you reply CONFIRM on a quote. Even if a carry-trade unwind or oil price move sends CAD/JPY sharply in either direction before your CAD wire reaches us, the rate you receive stays exactly as booked. CAD/JPY is one of the more volatile major crosses; locking in advance is essential for any time-critical Japanese payment.
Message us on WhatsApp and we'll have a live executable rate back in seconds.