fbpx Skip to main content

Are you looking for a better exchange rate?

Get the best exchange rate

Receive daily updates on Canadian dollar


Updates (2013-2014)

Canadian Dollar Morning Update

Expected USD/CAD Range: 1.066 – 1.072 Update: The Canadian Dollar is now comfortably around the 1.070 level, the weakest level in about three years. Yesterday afternoon, the FOMC began the process of reducing its extraordinary monetary stimulus program. The Fed also announced that short-term interest rates would stay low long after the bond-buying program ends. This first step of the taper is small (5bn from each of the two programs) and the Fed went out of its way to indicate that its future path would be data dependent. The market reaction was somewhat limited but the Canadian Dollar did trade down about a penny to its current level. The Big Picture: Canada’s new central banker is cautiously optimistic about the economy but shows no inclination towards raising rates in the next several quarters.  In fact, the low dollar policy being pursued by the bank suggests no interest rate moves until 2015.  Globally, the commodity boom has ended (or is at least sputtering).  Relatedly, Chinese and other emerging market economies have slowed notably and while some of the data from China is encouraging, it is becoming clear that sub 8% growth in China is here to stay.  At the same time, the ongoing (admittedly halting) recovery in the US will sooner or later lead to a tapering of the Fed’s bond purchase programs.  As a result of all of this and not surprisingly, the CAD has declined over 7% relative to the USD since the beginning of the year and we expect it to continue declining next year.

Are you looking for a better exchange rate?

Get the best exchange rate

Receive daily updates on Canadian dollar

Account to Account Service at Interchange Currency Exchange

Account to Account

If you have US dollar bank account in Canada and are looking to convert in your bank account at better rates than offered by your bank, then this service is for you.

Cash transactions at Interchange Currency Exchange

Cash

We have exchange rates that are much better than the banks and we charge no fees.

Money Transfer services at Interchange Financial

Money Transfer

If you are transferring money internationally or receiving money from overseas, we can help you save money as well because of our better exchange rates.