One of the popular currency pairs is US dollar v/s Canadian dollar because this pair is having a very large amount of trading activity at the cross-border which is taking place in between of Canada and the United States. Another name by which the Canadian dollar is mostly called as ” the loonie ” and this is for a reason because the picture on Canadian dollar depicts a loon on the $1 Canadian coin. As there are a large number of deposits for natural resources, therefore, the Canadian dollar is also known as the “commodity currency”, especially for oil mines which are being mined and exported from Canada mostly to South with its neighbor. So, this was about the USD to Cad dollar let us come to know a little bit more about the US dollar to Canadian dollar have a look below for collecting more information.
As the name says Canadian dollar, we can estimate that it is the currency of Canada and the abbreviation which is used to denote the Canadian dollar are the $ sign, sometimes Can $ or C $ for making it different from other currencies of dollar denominations, the Canadian dollar has 100 cents in it.
As we also told you earlier that there is an image of the loon on the coin of one – dollar due to which the Canadian currency is also known as the loonie mostly by the foreign exchange traders or the analysts or in French it is referred as huard. After US dollar, euro, yen and found Sterling the Canadian dollar is known as the fifth reserve currency which is mostly held in the world. In central banks, the Canadian dollar is very popular due to the relative economic soundness of Canada, stability of country’s legal and political system and strong sovereign position of the Canadian government. There are a lot of central banks or the commercial banks which keep Canadian dollar like as of reserve currency, the Canadian dollar is also known as the currency of benchmark.
The Canadian dollar has also played a very important role in the economy of America which is similar to the role of the Australian dollar in the region of Asia – Pacific, the Canadian dollar has also played a very vital part in the economies and finance system of French, British and Dutch Caribbean states from the 1950s. The central banks of Central and South America also held the Canadian dollar, by keeping an eye over the behave of the Canadian dollar against the US dollar economists of foreign exchange are able to observe internal behavior and pattern of the US economy indirectly. Since the 1970s the Canadian dollar is completely evolving within the global reserve currency and being floated against of any other currency of the world. There were some economists who have also attributed the upcoming importance of Canadian dollar which is having long-term effects over the Nixon shock which ended in the global finance’s Bretton woods system.
The official currency of United States is US dollar almost we all are aware of this and the abbreviation which is used to denote US dollar or United States dollar is USD, US $, dollar or American dollar. The US Dollar is not only the currency of United States it also includes its insular territories which are in United constitution from 1972. As the Indian currency rupee is divided into 100 paise similarly, 1 US dollar also contains 100 small cents within it but on the official level, we can divide 1 dollar into 1000 Mills. The paper money which gets circulated is consist of to the Federal Reserve notes which are denominated to the United States dollar. Since 1971 after the suspension of paper convertibility, the currency of US has also turned into a precious metal because it is one of the most used currency for the international transactions and it is also known as the primary reserve currency of the world. There are lots of countries which are using US DOLLAR as there official currency and it some countries it is a de facto currency.
Apart from the United States dollar is also a sole currency of two British overseas territories which are in the Caribbean, these territories are the British Virgin Islands and other is Turks and Caicos islands. There are also some countries which are using Federal Reserve notes for the paper of money at the time of minting own coins of themselves or they also accept the coins of US dollar. A research was conducted on 20 September 2017 in which it was found that there were around 1.58 trillion dollars which are under circulation from which around $ 1.53 trillion were in the form of federal reserve notes which remaining 50 billion dollars are circulating as coins.
As we all know the symbol of dollar is $ which is mostly written in front of the numerical amount being used in the US dollar, this particular sign was get evolved in the late 18th century and some also says that this sign was derived from the pillars of Hercules from the Spanish dollar present on Spanish coat of arms. Initially the American dollar was almost similar to the look or value of Spanish dollar which was being used widely in Spanish America from Kate 16th century to the 19th century and in 1972 , first dollar coin was issued in the United States which was almost similar to the Spanish dollar in size and composition both was minted in Mexico and Peru.
In a dutch new Netherland colony of New York, the lion dollar is very popular and it is being circulated throughout the English colonies in around 17th century and 18th century and due to the non-distinguishable design, the lion dollar was also known as the dog dollar. The first definition of US dollar was given by the Coinage Act in around 1792 in which states that the dollar is based on the Spanish milled dollar. The previous currency of United States was not able to exhibit the faces of the president which is now in the customs and till now according to law, the portrait of any deceased individual can appear on the currency of United States. The newly formed government of United States is completely against the portrait of leaders on currency and so now the currency which we see today do not get the faces of leaders.
USD to Cad History
There are lots of historical changes which has been occurred in the history of US dollar and Canadian dollar , the rate of 1 USD to cad dollar gets continuously increased or decreased on which the share marketers want to have an eye over for getting proper information, therefore, we are also sharing a list of historical recent changes in the 1 USD to cad so have a look on the below table this will help you a lot. This table contains the exchange rate of cad to USD history from September 2017 to November 2018.
Exchange Rate Cad to USD
|USD CAD rate for 11/9/2017||1.211||Monday|
|USD CAD rate for 12/9/2017||1.218||Tuesday|
|USD CAD rate for 13/9/2017||1.217||Wednesday|
|USD CAD rate for 14/9/2017||1.217||Thursday|
|USD CAD rate for 15/9/2017||1.219||Friday|
|USD CAD rate for 17/9/2017||1.219||Sunday|
|USD CAD rate for 18/9/2017||1.229||Monday|
|USD CAD rate for 19/9/2017||1.226||Tuesday|
|USD CAD rate for 20/9/2017||1.238||Wednesday|
|USD CAD rate for 21/9/2017||1.231||Thursday|
|USD CAD rate for 22/9/2017||1.237||Friday|
|USD CAD rate for 24/9/2017||1.235||Sunday|
|USD CAD rate for 25/9/2017||1.233||Monday|
|USD CAD rate for 26/9/2017||1.239||Tuesday|
|USD CAD rate for 27/9/2017||1.245||Wednesday|
|USD CAD rate for 28/9/2017||1.248||Thursday|
|USD CAD rate for 29/9/2017||1.246||Friday|
|USD CAD rate for 01/10/2017||1.243||Sunday|
|USD CAD rate for 02/10/2017||1.257||Monday|
|USD CAD rate for 03/10/2017||1.247||Tuesday|
|USD CAD rate for 04/10/2017||1.243||Wednesday|
|USD CAD rate for 05/10/2017||1.255||Thursday|
|USD CAD rate for 06/10/2017||1.257||Friday|
|USD CAD rate for 08/10/2017||1.257||Sunday|
|USD CAD rate for 09/10/2017||1.253||Monday|
|USD CAD rate for 10/10/2017||1.257||Tuesday|
|USD CAD rate for 11/10/2017||1.253||Wednesday|
|USD CAD rate for 12/10/2017||1.247||Thursday|
|USD CAD rate for 13/10/2017||1.242||Friday|
|USD CAD rate for 15/10/2017||1.248||Sunday|
|USD CAD rate for 16/10/2017||1.263||Monday|
|USD CAD rate for 17/10/2017||1.265||Tuesday|
|USD CAD rate for 18/10/2017||1.246||Wednesday|
|USD CAD rate for 19/10/2017||1.243||Thursday|
|USD CAD rate for 20/10/2017||1.267||Friday|
|USD CAD rate for 22/10/2017||1.269||Sunday|
|USD CAD rate for 23/10/2017||1.263||Monday|
|USD CAD rate for 24/10/2017||1.264||Tuesday|
|USD CAD rate for 25/10/2017||1.278||Wednesday|
|USD CAD rate for 26/10/2017||1.284||Thursday|
|USD CAD rate for 27/10/2017||1.287||Friday|
|USD CAD rate for 29/10/2017||1.274||Sunday|
|USD CAD rate for 30/10/2017||1.275||Monday|
|USD CAD rate for 31/10/2017||1.277||Tuesday|
|USD CAD rate for 01/11/2017||1.282||Wednesday|
|USD CAD rate for 02/11/2017||1.275||Thursday|
|USD CAD rate for 03/11/2017||1.266||Friday|
|USD CAD rate for 05/11/2017||1.269||Sunday|
|USD CAD rate for 06/11/2017||1.261||Monday|
|USD CAD rate for 07/11/2017||1.272||Tuesday|
|USD CAD rate for 08/11/2017||1.276||Wednesday|
|USD CAD rate for 09/11/2017||1.274||Thursday|
|USD CAD rate for 10/11/2017||1.273||Friday|
|USD CAD rate for 12/11/2017||1.278||Sunday|
|USD CAD rate for 13/11/2017||1.264||Monday|
|USD CAD rate for 14/11/2017||1.273||Tuesday|
|USD CAD rate for 15/11/2017||1.254||Wednesday|
|USD CAD rate for 16/11/2017||1.274||Thursday|
|USD CAD rate for 17/11/2017||1.278||Friday|
|USD CAD rate for 19/11/2017||1.273||Sunday|
So, this was the above table of exchange rate cad to USD from September 2017 to November 2017 and this rate goes on changing with date and time on which the value of exchange rate depends.
USD to Cad Forecast
It has been said that the forecast of the Canadian dollar against the US dollar will get the rise in 2018 and the pound Sterling will rise in rest of 2018 , albeit has shown a steadier or upward path. In the final months of last year it showed a great performance but now the Canadian dollar is going as a worst performing currency or 2018 from so far due to it’s sleepest looses which are coming against to the Japanese yen, British pound, Swiss Franc and euro it has been also gone down around 8% against to the yen and against Sterling, Euro, and franc the performance is 5% down.
The Loonie or Canadian dollar has given a ground to beleaguered US dollar as the USD to CAD rate has risen by 2.7% from the last two months. Due to the uncertainty, future of North American free trade agreement ( NAFTA ) is being turned into a bigger drag over the cad which we can not anticipate. In the starting of year, the Canadian dollar was underperformed against all other currencies of different countries, this review has been given by the Elias handed who is a senior currency strategist in the Commonwealth Bank of Australia.
The president Donald Trump is also expecting a formal announcement on the imports of steel and aluminum as Canada is one of the largest suppliers of steel and aluminum to the United States. It has been forecast by Haddad and the team of Commonwealth bank that Canadian dollar is showing a steady rise in rest of 2018 as the USD to cad chart is slower and shallow as compared to early implicated projections.
The rate of USD / CAD in the US dollar forecast 2017 is expecting to fall down from an expected level of around 1.28 during the end of March to the 1.25, 1.27 and 1.23 after the end of June, September and December. This all indicated the loss of 4.8% to the rate of USD / cad which was trading in the morning session of around 1.2925 on Thursday during the end of the year. The currency pair of a pound to Canadian dollar exchange is a foreign exchange cross rate which is being calculated to be more basic as the division of pound to dollar rate with the cad / USD rate. The Commonwealth has also been implied forecast that the rate of a pound will get fall down from the 1.79 to the 1.75 against the Canadian dollar on Thursday by the end of the month of March and by the end of December month it will follow a shallow path of 1.74 by the whole year.
USD to Cad Conversion
As we have already discussed the exchange rate of USD to CAD but the current rate of this USD to CAD dollar conversion is 1.28 Canadian dollar. Although we know that these rates go on for the change simultaneously so before calculating you should always look for the current conversion rate. As the US dollar and Canadian dollar are the most used currencies in the world and the conversion for both of these currencies is also very important you can convert them from banks but before going there it is good to first have a manual calculation and getting an approximate idea how much money will you be going to get after conversion.
There are lots of online USD to cad calculator available for calculating or converting US dollar into the Canadian dollar or vice versa So, below we will be going to learn about these calculators and how to use them or convert your values let us come to know in details everything.
USD to Cad Converter
We have also told you earlier that the current value for 1 US dollar to Canadian dollar is 1.28 and now we are going to learn about USD to CAD dollar converter which is possible with help of online calculators or the manual calculation. Either you are living in any of the countries and planning a visit to Canada then you will definitely require changing your currency and if you are an American native and visiting Canada for any purpose then you will need to convert USD to cad so, it is a best idea on converting or having an estimated idea that how much cash will you be going to get after making an exchange and also there is one more benefit that if you are going to exchange your money and you already know that exact amount after exchange then you will save yourself from getting charged more fees which is not reasonable and you are now able to calculate your loss and can easily choose the best method if you plan everything in advance, not on the last moment.
This will be a very smart move that you know in advance how much foreign currency will you be going to have after an exchange and this will also save you from a lot of unnecessary trouble. So, there are two basic methods by help of which you are able to easily calculate your currency into foreign amount basically we are here to discuss the conversion of US dollar to Canadian dollar so let us come to know about both of these methods. The first method is known as the online calculation and the second method is of manual calculation do not worry we will tell you about both of these methods in detail with proper explanation :
Method – 1: With the help of online converters
There are lots of converters available online which will calculate your exchange rate for the US to Canadian dollar in no time and these converters are very easy to use you do not need to have many efforts just follow the below provided simple and easy steps –
1 . First of all, you have to look for the best up to date online converter, there are lots of websites which will do so or you will also get one on our website with the current conversion rate so these websites are the best place of converting your currency. If you are not sure about the current exchange rate of us dollar to Canadian dollar then you are also having an option of contacting to the department of treasury or to any other governmental agency which will give you the latest information about the exchange rate.
2 . Now , after getting proper information what you have to do is open the particular website which you found and their you will see two boxes one with Canadian dollar and other box with us dollar from any of these box you have to put the amount which you wanted to convert like if you wanted to convert 2 us dollar into canadian dollar then you have to put the value of 2 in box of us dollar and then click on the button of convert or OK and if on the other hand you wanted to convert 2 Canadian dollars into US dollar then put this value of 2 in the box of Canadian dollar and press the button of convert you will get your result within seconds.
So , by following these steps you can simply convert cad to USD and get the proper amount you can calculate the exchange value for any conversion like as in the conversion of 1000 USD to Cad. If you wanted to convert 1000 us dollar into Canadiann dollar you have to do only two steps
* Find the best calculator and there you have to put the value of 1000 in the box of us dollar.
* Second you have to click on the option of a convert now wait for few seconds and your result is their
Similarly, you can calculate this value or exchange rate for any amount whichever you want it is all up to your requirement.
Method – 2: By Manual Conversion
There are many people who loves to do the calculations on their own and wanted to get correct result as they won’t believe in online converters or may be possible you are not in the situation of using online converter so at such condition you are also having the option of calculating values by your own with help of simple calculations let us told you how. It is very simple to do this just follow the below provided simple and easy steps :
1 . First of all you have to clear in your mind that how much amount do you want to convert or how much money will you be going to require in other country.
2 . Now , after getting the proper idea or amount you have to go online and look for the current value of exchange rate like as the current value for the us dollar to Canadian dollar is 1.28 so by getting this exact value we can calculate our amount which we are going to get.
3 . Now , at last we have to only calculate the amount for the money which we wanted to convert. For converting your amount what you have to do is first of all take the amount which you wanted to convert like the conversion amount is 1500 USD which you wanted to convert in Canadian dollar. It seems a very large amount but it is very simple to calculate this amount. You have to simply multiply the value of 15000 with the 1.28 as the current exchange rate value for Canadian dollar with us dollar is 1.28 so after having a simple multiplication of both these amounts you will get the result of 19212.75 , this is the exact calculated value for 15000 USD to cad so in this way you can simply get the calculation for any amount. Let us clear it more with few examples :
1. 50 USD to Cad
Let us assume that we are having 50 United States dollar and we have to convert them into canadian dollar then what we will do is first of all, get the current exchange currency rate of us to Canadian dollar which is 1.28 now, we will do a simple multiplication of both these value
50 * 1.28 = 64
So , you have got this amount in Canadian dollar which means that for 50 us dollar you will get 64 Canadian dollars.
2. 60 USD to Cad
Now , again we are having a value I US dollar which is 60 and we have to convert this value in Canadian dollar so we will follow the same rules as above multiply the value of 60 with 1.28 and get the result.
60 * 1.28 = 76.8 Canadian dollar
3 . 70 USD to Cad
Another calculation we are going to do is for the 70 us dollar to the Canadian dollar , this conversion will also be going to same as of above with simple multiplication of both values the amount which has to be calculated and the current exchange rate so we will get
70 * 1.28 = 89.6 Canadian dollar
4. 90 USD to Cad
Another example for this conversion is of 90 us dollar into Canadian dollar same as above
90 * 1.28 = 115.2 Canadian dollar
Keep in mind that the resulted value is in the term of Canadian dollar.
5 . 250 USD to Cad
This is one more example for the conversion of us dollar to the Canadian dollar , as you see that value of us dollar is increasing similarly the converted value is also increasing. Let us know the converted result for this example.
250 * 1.28 = 320 Canadian dollar
6 . 2000 USD to Cad
This is one of the last examples about which we are going to know for the conversion of us dollar into Canadian dollars we see that this is quite a big amount so you can also use the manual calculator for the multiplication. We will follow the same rules as above simply multiply the value of 2000 with the current exchange rate of 1.28
2000 * 1.28 = 2560
We will get the resulted value of 2560 in the terms of the Canadian dollar.