FAQ About the Best Exchange Rate From CAD to USD

• Which Canadian bank has the best USD exchange rate?

  Canadian banks do not apply the mid-market exchange rate to their retail customers, so it's difficult to tell which has the best USD exchange rate. Some banks publish their rates daily on their websites, although many are not as transparent.

  To send money to the United States, use an international money transfer service that publishes its rates more transparently. You can easily compare rates with Monito's comparison engine.

• Is it a good time to convert CAD to USD?

  This depends on your timeframe. The Canadian dollar has fluctuated around 1 CAD per 0.775 USD since 2016. If you can exchange your CAD to USD at this rate or higher, then your transfer is relatively good.

  However, the Canadian dollar reached its strongest point 10 years ago in 2012 when 1 CAD = 1.032 USD. With this in mind, a conversion in 2022 at 0.775 CAD = 1 USD would be relatively weak.

• What is the cheapest way to convert CAD to USD?

  Wise has consistently been the cheapest way to convert CAD to USD on Monito from March 2021 to March 2022. Instantly convert the two currencies at the actual market rate for an industry-low fee online or even on your smartphone.

• How do I get the best exchange rate in Canada?

  Compare thousands of rates with Monito's comparison engine to find services that offer cheap, transparent, and trustworthy CAD to USD exchange rates.