The live dollar-to-Canadian-dollar rate, updated every minute. Book USD→CAD with SummitFX on WhatsApp — same-day CAD settlement when you transact during the North American business day.
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 USD amount to see what you'd get in CAD, or enter a target CAD amount to see how many 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 0.3–0.6% at SummitFX vs 2–4% at a UK high street bank. We'll always show the full breakdown before you book.
USD/CAD is the world's sixth-most-traded currency pair, accounting for around 4-5% of global FX volume. Often called 'the loonie' (after the Canadian dollar coin's bird), it's one of the most stable and predictable major pairs because of the deep economic integration between the US and Canada. The pair moves primarily on US economic data, Federal Reserve policy, and oil prices — Canadian-specific data matters less because the Bank of Canada tends to track Fed policy closely. Around 75% of Canadian exports go to the US, making Canadian growth fundamentally linked to US demand.
Federal Reserve policy: The Fed sets US interest rates and is the most influential central bank globally. The Fed-BoC policy gap is typically narrow because the BoC closely tracks Fed direction given US-Canada economic integration. Decisions, the dot plot, and Jerome Powell's press conferences are the biggest scheduled events for the pair.
US CPI and PCE: US inflation data drives Fed expectations, and because the BoC follows the Fed closely, US CPI moves USD/CAD as much as Canadian CPI. Monthly CPI is one of the most-watched FX events globally.
Non-farm payrolls: The first-Friday US jobs report is one of the biggest scheduled FX events globally. Strong US payrolls typically support USD against CAD; weakness undermines the pair. The simultaneous Canadian Labour Force Survey can amplify or dampen the move depending on relative surprises.
US Treasury yields: The 10-year Treasury is a real-time gauge of dollar demand. Rising US yields versus Canadian yields tend to push USD/CAD higher, attracting capital into US assets.
Risk sentiment: USD typically strengthens in global stress episodes; CAD typically weakens because of its commodity exposure and risk-on character. This makes USD/CAD a useful 'risk barometer' — rising USD/CAD often signals broader risk-off sentiment.
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's policy path tends to track the Fed closely given US-Canada integration.
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, given Canadian crude pricing closely tracks US oil markets.
US data dependency: Around 75% of Canadian exports go to the US, so Canadian growth is intimately linked to US demand. Strong US data often supports CAD by signalling demand for Canadian exports — though if it pushes Fed policy more hawkish than expected, USD strength can dominate.
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 typically tracks oil and global growth sentiment. In risk-off episodes CAD weakens; in oil rallies CAD strengthens. The CAD-oil correlation isn't perfect but is usually present and can amplify USD/CAD moves.
The US and Canada share the world's most economically integrated bilateral relationship. The two countries are each other's largest trading partners, with bilateral trade exceeding $900 billion annually across goods and services under the USMCA framework. The trans-border supply chain — particularly in autos, energy, agriculture, and lumber — generates constant, predictable USD-CAD flow. Beyond goods trade, there are huge institutional investment flows: Canadian pension funds and asset managers (CPP, OMERS, Caisse) hold substantial US assets; US corporations have major Canadian subsidiaries; and cross-border M&A is routine. The corridor's institutional density makes USD/CAD one of the world's deepest and tightest-spread pairs.
USD→CAD settles via SWIFT through our Canadian correspondent banking network. Time-zone alignment is favourable — Toronto is 5 hours behind UK time, so UK afternoon bookings reach Toronto's morning. The Canadian banking day is fully aligned with the US banking day, simplifying cross-border timing.
Three things most commonly cause USD→CAD transfers to slip past same-day:
Late USD funding. Our cutoff is 15:00 UK time for same-day CAD release. SWIFT USD wires from the US can take hours to reach Europe; sending in the US morning gives the best chance of reaching us before the cutoff and pushing CAD wires out while Canadian banks are still processing actively.
Smaller Canadian bank processing. Some smaller Canadian regional banks and credit unions only post incoming SWIFT wires once or twice a day. A wire released from London at 15:30 UK (10:30 Toronto) usually arrives mid-Toronto-morning — but a smaller institution might only credit it later that day or the following morning.
Canadian and US holidays. Canada has its own federal holidays (Canada Day on 1 July, Thanksgiving in October, Family Day in February, Victoria Day in May, etc.) plus provincial ones. Canadian holidays close CAD payment systems entirely. US holidays can also affect CAD because much of Canadian banking infrastructure routes through US correspondents.
For tight CAD deadlines — property completions, supplier invoices, payroll runs — book the day before so the wire is on its way at the start of the Canadian business day. Forward contracts work well for ongoing US-Canada supplier payments and for hedging predictable CAD obligations.
USD/CAD is the corridor for US residents and businesses with meaningful Canadian-dollar obligations, plus anyone with Canadian property, family, or investments. Common use cases:
US companies sourcing Canadian goods and services — natural resources, lumber, automotive parts, technology, professional services. The integrated USMCA supply chain generates huge recurring CAD flow. Tight spreads on regular high-volume payments protect margin.
US buyers purchasing Canadian property — particularly in Toronto, Vancouver, Montreal, and Maritime provinces. The Canadian conveyancing process gives time for currency exposure; a forward contract locks in today's USD/CAD rate so a 4-8 week settlement timeline doesn't expose you to currency moves.
US-headquartered companies funding Canadian operations — payroll, supplier payments, intercompany transfers. Treasury hedging via forwards is standard practice for predictable CAD outflows.
US residents supporting Canadian-based family — students, retirees, dependants. Recurring monthly transfers benefit from market orders or standing arrangements rather than ad-hoc bookings at variable rates.
US citizens or green card holders resident in Canada filing US tax returns and paying IRS obligations in USD. Predictable annual deadlines make this a good fit for rate alerts and forwards.
Canadians wintering in the US (the 'snowbird' phenomenon) generates the reverse flow, but US residents with Canadian summer cottages or ski properties need ongoing CAD for property taxes, maintenance, and utility bills. Standing arrangements smooth out the rate exposure.
You can convert dollars to Canadian dollars through your bank, through a transfer app, or through a broker. USD/CAD is one of the world's most-traded pairs with deep liquidity around the clock, but bank markups remain wide — making broker access valuable for any meaningful trade.
Everything clients typically ask about sending dollars to Canadian dollars. 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. USD/CAD is one of the more stable major pairs because of US-Canada economic integration, but it does move on Fed-BoC policy divergence and oil prices. Rate alerts let you set a target and wait passively rather than guessing.
US and Canadian banks typically mark up USD/CAD by 2–4% for retail customers. SummitFX spreads are 0.3–0.6% depending on size. On a $500,000 corporate or property transfer that's a saving of $7,500–$17,500 in your favour — material at any scale.
Book and fund by 15:00 UK time on a business day and CAD typically lands in your beneficiary's Canadian account the same Canadian business day — usually within a few hours of release. The US-Canada banking day alignment makes timing more predictable than most cross-border pairs.
Yes. Canadian property purchases typically involve 4–8 weeks between firm offer and closing — plenty of time for USD/CAD to move 1–3% against you. A forward contract fixes today's rate for delivery on completion day. You pay a deposit (typically 5–10% of the trade) upfront and settle the balance at completion.
No hard minimum — we handle trades from $500 to $5m+. Below around $5,000 the spread widens slightly to cover fixed execution costs. For recurring US-Canada supplier payments, family support, or property maintenance, 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 0.4–0.6%, SummitFX 0.3–0.6% — with our clients also getting a named dealer and WhatsApp access.
Because of the deep economic integration between the US and Canada — around 75% of Canadian exports go to the US, so Canadian growth is fundamentally linked to US demand. The Bank of Canada also tends to track Fed policy closely, keeping the rate gap narrow. This makes USD/CAD one of the lower-volatility major pairs, though oil price swings and divergent Fed-BoC moves can still drive meaningful cycles.
Your rate is locked the moment you reply CONFIRM on a quote. Even if oil prices swing or a Fed surprise moves USD/CAD before your USD clears to us, the rate you receive stays exactly as booked. Locking matters most for time-critical transfers like property completions or scheduled supplier invoices where rate certainty is more important than chasing the absolute best rate.
Message us on WhatsApp and we'll have a live executable rate back in seconds.