About converting Canadian dollar to US dollar
The Canadian dollar, nicknamed the “loonie” after the bird on the one-dollar coin, usually trades below the US dollar. Canada is a large energy exporter, so the loonie tends to rise and fall with oil prices.
The rate here is a cross rate from the European Central Bank’s daily euro rates for both currencies, so both sides share the same date.
Banks and exchange companies add a margin to the mid-market rate shown here, and some charge a fixed fee as well. Compare the final amount received, not just the headline rate.
How the CAD to USD rate is worked out
Rates are stored per euro, so every pair is a cross rate through the euro, and the inverse is 1 divided by the rate. Major currencies use the European Central Bank’s euro reference rates; others, such as the Pakistani rupee and Gulf currencies, use the open-source currency-api feed, linked through the US dollar. The working box under the result shows the sum with today’s numbers.
The rate is a mid-market reference for information only. For a transfer, compare the amount the recipient receives with two or three providers. For any other pair, use the full currency converter.