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, so the number shown is how many Canadian dollars ('loonies') one US dollar buys.
This is an interbank spot mid-market quote. Canada is a major oil exporter and the US is its largest trading partner, so USD/CAD tracks 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 Federal Reserve issues the dollar. The Bank of Canada issues the Canadian dollar and sets policy for an economy closely integrated with the US through trade and, in particular, energy exports.
Canada is a significant net exporter of crude oil, so its terms of trade - the relative price of what it sells abroad versus what it imports - move with oil prices. That gives the loonie a partly commodity-linked character most other G10 currencies don't have.
How to read this chart
A rising 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 in US dollars gets more Canadian dollars per sale when USD/CAD rises, and fewer when it falls. 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 exporter, Canada's currency tends to strengthen when crude 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 data affect the US dollar side of the pair, as with other USD crosses.
- US–Canada trade flows
- Cross-border trade and investment between the two economies run deep, so trade policy developments can move USD/CAD noticeably.
- Broad risk sentiment
- As a commodity-linked currency, the Canadian dollar can weaken in periods of general risk aversion even without domestic Canadian news.
Why people watch it
Businesses trading across the US–Canada border use USD/CAD to price contracts, cost hedges on 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 track USD/CAD alongside crude oil benchmarks.
USD/CAD vs WTI crude oil
USD/CAD has shown an inverse relationship with crude oil: rising oil tends to support the Canadian dollar (pushing USD/CAD down), while falling oil weighs on it (pushing USD/CAD up), reflecting Canada's position as a net oil exporter.
Comparing the two series shows whether a Canadian dollar move is coming mainly from energy markets or from broader interest-rate and risk factors.
Frequently asked questions
Why is the Canadian dollar called the 'loonie'?
The name comes from the common loon, a Canadian waterbird, pictured 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 its 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 carry an added margin set 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 text here is deliberately evergreen: it is not rewritten every time the market moves, and no price or level is quoted anywhere outside the chart itself.
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