Canadian Dollar (CAD)
The Canadian dollar is a commodity-linked currency, often called the loonie after the bird on its one dollar coin. Canada is a major exporter of oil, gas, lumber and metals, most of it to the United States.
The latest available mid-market reference is 1 CAD = 0.7023 USD. The table below shows the same rate against the other major currencies.
Key facts
Structural details reviewed . Regimes and issuing arrangements can change.
The role of the Canadian Dollar
Canada is a major energy and resource exporter, and the Canadian dollar is often used as a proxy for commodity demand. It is one of the most traded currencies in the Americas and moves closely with US data.
A short history
The Canadian dollar was introduced in 1858 and allowed to float in 1970. The one dollar coin, the loonie, entered circulation in 1987 and gave the currency its nickname.
What moves the Canadian Dollar
Crude oil prices, US demand and the gap between Bank of Canada and Federal Reserve policy. Because trade with the United States dominates, the pair often tracks US data as closely as Canadian data.
Live CAD exchange rate
| Currency | 1 CAD equals |
|---|---|
| US Dollar (USD) | 0.7023 |
| Euro (EUR) | 0.6319 |
| British Pound (GBP) | 0.5284 |
| Japanese Yen (JPY) | 112.02 |
| Chinese Yuan (CNY) | 4.6952 |
| Indian Rupee (INR) | 65.9087 |
| Australian Dollar (AUD) | 1.0249 |
| Swiss Franc (CHF) | 0.5842 |
Mid-market rate updated . Banks and transfer providers add a margin. About our rates.
CAD conversion pages
Other currency profiles
Canadian Dollar questions
What is the Canadian Dollar?
Canadian Dollar (CAD) is used in the following countries and territories: Canada. Central bank: Bank of Canada. Exchange rate regime: free float.
Which countries use the Canadian Dollar?
The Canadian Dollar is used in the following countries and territories: Canada.
What affects the Canadian Dollar exchange rate?
Crude oil prices, US demand and the gap between Bank of Canada and Federal Reserve policy. Because trade with the United States dominates, the pair often tracks US data as closely as Canadian data.