CAD vs USD
🇺🇸1 CAD = 0.71 USD
Rates as of 2026-07-22 · Source: European Central Bank
Quick Stats
Historical Comparison
CAD / USD| Period | Then | Now | Change | Trend |
|---|---|---|---|---|
Source: European Central Bank via Frankfurter API
About CAD / USD
🇨🇦 CAD — Canadian Dollar
The Canadian Dollar, often called the 'Loonie' after the loon bird on the one-dollar coin, is the fifth most held reserve currency in the world. It is closely tied to commodity prices, especially oil.
🇺🇸 USD — US Dollar
The United States Dollar is the world's primary reserve currency and the most traded currency in the foreign exchange market. It serves as the standard unit of currency in international markets for commodities such as gold and oil.
Key Factors Affecting CAD/USD
🇨🇦 CAD Drivers
- Crude oil and commodity prices
- Bank of Canada interest rate decisions
- US-Canada trade relations and USMCA
- Canadian housing market and employment data
🇺🇸 USD Drivers
- Federal Reserve interest rate decisions
- US employment and inflation data
- Global risk sentiment and safe-haven demand
- US trade balance and fiscal policy
💡 Did You Know? — CAD
Canada's one-dollar coin features a common loon, which is why the Canadian dollar is nicknamed the 'Loonie.'
💡 Did You Know? — USD
About 60% of all foreign exchange reserves held by central banks worldwide are denominated in US dollars.
Economy Overview
🇨🇦 Canada
Canada has a resource-rich economy with significant exports of crude oil, natural gas, and minerals. The Bank of Canada sets monetary policy independently from the US despite close economic ties.
🇺🇸 United States
The US has the largest economy in the world by nominal GDP. The Federal Reserve (Fed) manages monetary policy, and its interest rate decisions have a significant impact on the dollar's value globally.