fbpx Skip to main content
Daily UpdatesViews

US Dollar to Canadian Dollar Spikes Above 1.30

Canadian dollar

The US dollar to Canadian Dollar exchange rate reached an 18-month high when it surged passed 1.30 on Thursday.  The USD/CAD rate is currently sitting at 1.2948 (CAD/USD 0.7722).

Seesawing commodity prices and decoupling of the correlation between the Canadian dollar and oil prices has prevented the Loonie from gaining strength.  But more fundamentally, with equity markets, cryptocurrencies and other riskier assets taking a thumping, the USD dollar is benefiting from large inflows as investors seek out safety.

On a monetary policy front, investors don’t believe that the BoC can afford to be as aggressive as the FED and that the US dollar will benefit from a positive interest rate differential in the long term.  This was reinforced by comments from the BoC’s deputy governor who indicated in a speech on Thursday that they will be watching the impact of the rates increases on the housing market closely before moving forward with additional rate hikes.

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


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.