Currency
USD/CAD exchange-rate chart
USD/CAD quotes the US dollar, issued by the Federal Reserve, against the Canadian dollar, issued by the Bank of Canada. The US dollar is the base currency and the Canadian dollar (often called the 'loonie') is the quote currency, so the figure shown is how many Canadian dollars one US dollar buys.
This is an interbank spot mid-market quote. Because Canada is a major oil exporter and the United States is its largest trading partner, USD/CAD is closely tied to both oil prices and the broader US–Canada trade relationship.
USD / CAD chart
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At a glance
| Full name | United States Dollar / Canadian Dollar |
|---|---|
| Pair code | USD/CAD |
| TradingView symbol | FX:USDCAD |
| Instrument type | Spot FX interbank quote (mid-market) |
| Base currency | US dollar (USD) |
| Quote currency | Canadian dollar (CAD) |
| What one unit represents | How many Canadian dollars one US dollar buys |
| Market schedule | Roughly 24 hours a day, Sunday evening to Friday evening UTC; closed at weekends |
| Central banks involved | US Federal Reserve; Bank of Canada |
| Liquidity/session notes | Most liquid during North American trading hours; sensitive to oil price moves |
| Data delay note | Chart data may be delayed; this page is not a dealing or payment rate |
What is USD / CAD?
The US dollar is issued by the Federal Reserve, while the Canadian dollar is issued by the Bank of Canada, which sets policy for an economy closely integrated with the United States through trade and, in particular, energy exports.
Canada is a significant net exporter of crude oil, so the Canadian dollar's terms of trade — the relative price of what it sells abroad versus what it imports — are meaningfully affected by oil prices, giving the loonie a partly commodity-linked character distinct from most other G10 currencies.
How to read this chart
A rising USD/CAD line means the US dollar is strengthening against the Canadian dollar — one US dollar buys more Canadian dollars. A falling line means the Canadian dollar is strengthening.
A Canadian exporter selling into the US market in US dollars receives more Canadian dollars per sale when USD/CAD rises (Canadian dollar weakens), and fewer when it falls (Canadian dollar strengthens). The chart is a mid-market reference rate, not the rate applied to an actual cross-border payment.
What moves it?
- Oil prices
- As a major oil-exporting economy, Canada's currency tends to strengthen when crude oil prices rise and weaken when they fall, all else equal.
- Bank of Canada policy
- Interest-rate decisions and inflation guidance from the Bank of Canada directly affect the Canadian dollar side of the pair.
- US Federal Reserve policy
- Fed decisions and US economic data affect the US dollar side of the pair, as with other USD crosses.
- US–Canada trade flows
- Given the depth of cross-border trade and investment between the two economies, trade policy developments can move USD/CAD noticeably.
- Broad risk sentiment
- As a commodity-linked currency, the Canadian dollar can weaken during periods of general risk aversion even without domestic Canadian news.
Why businesses and investors monitor it
Businesses trading across the US–Canada border use USD/CAD to price contracts, judge hedging costs for cross-border receivables and payables, and assess translation exposure for subsidiaries reporting in the other currency.
Given the pair's sensitivity to oil prices, companies with energy sector exposure on either side of the border also monitor USD/CAD alongside crude oil benchmarks.
USD/CAD vs WTI crude oil
USD/CAD has historically shown an inverse relationship with crude oil prices: rising oil tends to support the Canadian dollar (pushing USD/CAD down), while falling oil tends to weigh on it (pushing USD/CAD up), reflecting Canada's position as a net oil exporter.
Comparing the two series can help identify whether a Canadian dollar move is being driven mainly by energy markets or by broader interest-rate and risk factors.
Frequently asked questions
Why is the Canadian dollar called the 'loonie'?
The nickname comes from the image of a common loon, a Canadian waterbird, featured on the Canadian one-dollar coin.
Why does oil affect USD/CAD?
Canada is a significant net exporter of crude oil, so higher oil prices generally improve Canada's terms of trade and tend to support the Canadian dollar, all else equal.
What does a weaker Canadian dollar mean for a Canadian exporter to the US?
A weaker Canadian dollar (rising USD/CAD) means US-dollar export sales convert into more Canadian dollars, which can support exporter margins.
Why is my bank's rate different from the USD/CAD chart?
The chart is an interbank mid-market rate; actual transfers are priced with an added margin by the bank or payment provider.
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Sources
Written and maintained by the StandardsDesk editorial team. Last reviewed 2026-08-06. The explanatory text on this page is evergreen: it is not updated with market movements, and no current price or level is quoted anywhere outside the chart.
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