USD/CAD Exchange Rates

Stay informed with the latest USD/CAD exchange rate insights. Our updates and analysis are designed to give you a thorough understanding of this crucial currency pair, no matter your financial background.

Exchange Rates

£
1.00 British Pound =1.15 Euros
1.00 BGR =1.15300946 EUR1.00 EUR =0.85300946 BGR

About the US Dollar

  • The US Dollar was introduced in 1792.
  • The US Dollar is used in the United States and its territories. Additionally, it is used internationally as the world’s primary reserve currency.
  • The US Dollar is considered a major currency and is the most widely used currency in international transactions.
  • The US Dollar symbol is $ (US$).
  • It is regulated by the Federal Reserve System (The Fed).

USD/CAD History

2023

In 2023, the USD/CAD average exchange rate is 1.3494.
The highest rate point of the year was on November 1, 2023, when the rate was 1.3892.
The lowest rate point of the year was on July 14, 2023, when the rate was 1.3091.

2010-2023

Between 2010 and 2023, the USD/CAD average exchange rate is 1.2088.
The highest rate in this period was on January 20, 2016, when the rate was 1.4687.
The lowest rate in this period was on July 26, 2011, when the rate was 0.9406.

USD/CAD Predictions and Expectations

The USD/CAD exchange rate, a key indicator of economic health between the United States and Canada, has been subject to various predictions by financial analysts for the upcoming years. Drawing upon insights from ING, RoboForex, and WOWA.ca, this article delves into expectations for 2024, 2025, and the broader future of this currency pair.

Predictions for 2024

The landscape of the USD/CAD exchange rate in 2024 appears to be shaped significantly by interest rate decisions from the Federal Reserve and the Bank of Canada.

According to ING, while the USD/CAD exchange rate has recently tested highs above 1.3600, it is anticipated to trade within a 1.34/1.36 range in the near term before a clearer downtrend towards 1.30 emerges in the latter half of 2024​.

Analysts from RoboForex highlight the importance of oil prices and economic development indicators, such as inflation rates and GDP growth, in influencing this exchange rate.

Moreover, different financial institutions have provided a range of forecasts, with J.P. Morgan expecting a rate of 1.3300 by December 2024, while Citibank predicts a rise to 1.4000 by year-end.

USD CAD exchange rate predictions for 2024

Outlook for 2025 and Beyond

Moving into 2025, the expectations suggest a continuation of trends established in the previous year. ING forecasts a further decline in the USD/CAD rate to 1.2800 by the end of 2024, reaching 1.2700 by the end of 2025, driven by a strengthening Canadian dollar. This is supported by WOWA.ca, which provides a broader expected range of 1.25 to 1.29 for the end of 2025. The factors influencing these predictions remain consistent with those affecting 2024’s outlook, including central bank policies, oil prices, and the overall state of the economies in both countries.

USD CAD exchange rate outlook for 2025

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