What does USD/CAD measure?

USD/CAD states how many Canadian dollars you receive for one US dollar. A rate of 1.3600 means one US dollar buys 1.36 Canadian dollars.

Why is the Canadian dollar called the "loonie"?

The nickname comes from the loon, a bird depicted on the Canadian one-dollar coin. The term is now used interchangeably for the currency itself.

Why does oil affect USD/CAD?

Canada is a major exporter of crude oil, so its currency tends to strengthen when oil prices rise and weaken when they fall, making USD/CAD one of the most oil-sensitive major pairs, particularly relative to WTI crude.

Who sets Canadian monetary policy?

The Bank of Canada (BoC) sets the policy rate. Its stance relative to the US Federal Reserve is a primary driver of USD/CAD alongside oil prices.

How do I get USD/CAD via the API?

GET /v1/latest/USD?symbols=CAD returns the indicative rate, source, market_session, and timestamp. The free tier covers it, no credit card required. All rates are indicative, not for settlement.

Is USD/CAD less volatile than other major pairs?

It often trades with somewhat lower day-to-day volatility given the depth of US-Canada trade ties, though sharp oil-price moves can still produce significant swings.

Is this a settlement-grade rate?

No. It is an indicative mid-market reference rate for informational use, not for settlement, invoicing, or regulated trading.

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USD/CAD

Name: USD/CAD exchange rate time series
Creator: exchangerate.dev
License: https://exchangerate.dev/terms

1.40238

(US Dollar / Canadian Dollar)

-0.12% today

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USD/CAD historical chart

Aug 4Feb 3Jul 31

Live USD/CAD conversion rate

As of 2026-08-02 20:49:11 UTC, USD/CAD (US Dollar / Canadian Dollar) is 1.40238, reconciled from ECB ref · live spot and refreshed every 1-minute ingest / daily reference fallback. Every observation is point-in-time and labels its source class and timestamp — backtest-safe and reproducible. USD/CAD is available over the REST API and an MCP server on exchangerate.dev, with a free tier to start.

How do I query USD/CAD?

One authenticated GET returns the latest value with its timestamp and source. Swap the language tab for your stack.

$ curl https://api.exchangerate.dev/v1/rate/usd-cad \
    -H "Authorization: Bearer $API_KEY"
# → rate, timestamp, source, derived

✓The response includes source, market_session, and data_updated_at freshness metadata.

Reference

GET/v1/latest/USD?symbols=CAD

Latest USD/CAD indicative spot rate — value, timestamp, source, and market_session.

Rate limit

12 / min (Free) · 500 / min (Pro)

Latency p95

sub-100ms edge hits

Source feed

ECB ref · live spot

Frequency

1-minute ingest / daily reference fallback

Provenance

Reconciled against aggregated market data + public reference rates · parser v2.1

Methodology and revision log are public and versioned.

Read methodology

More in fx

USD/CAD — Understanding the "Loonie"

USD/CAD is one of the clearest commodity-currency pairs to track alongside WTI crude oil prices, given how directly Canada's energy exports feed into the loonie.

USD/CAD, where the Canadian dollar is nicknamed the "loonie" after the bird depicted on the one-dollar coin, expresses how many Canadian dollars one US dollar buys. Canada and the US share one of the deepest trade relationships in the world, which anchors the two currencies closely together.

Canada is a major oil exporter, so USD/CAD is strongly correlated with crude oil prices, particularly West Texas Intermediate (WTI) — rising oil prices tend to support the Canadian dollar and push USD/CAD lower, while falling oil prices often have the opposite effect.

Monetary policy is set by the Bank of Canada, and its decisions relative to the US Federal Reserve are a key driver of the pair. Because the US and Canadian economies are so intertwined through trade, USD/CAD often shows lower volatility than other major pairs, though oil-price shocks can still move it sharply.

This page shows an indicative mid-market rate sourced from aggregated market data and public reference rates (ECB/FRED). It can update intraday through the trading week; every response carries source and market_session so you know whether a given quote was live or a daily fix. Rates are indicative, not for settlement or regulated trading.

Frequently asked questions

What does USD/CAD measure?: USD/CAD states how many Canadian dollars you receive for one US dollar. A rate of 1.3600 means one US dollar buys 1.36 Canadian dollars.
Why is the Canadian dollar called the "loonie"?: The nickname comes from the loon, a bird depicted on the Canadian one-dollar coin. The term is now used interchangeably for the currency itself.
Why does oil affect USD/CAD?: Canada is a major exporter of crude oil, so its currency tends to strengthen when oil prices rise and weaken when they fall, making USD/CAD one of the most oil-sensitive major pairs, particularly relative to WTI crude.
Who sets Canadian monetary policy?: The Bank of Canada (BoC) sets the policy rate. Its stance relative to the US Federal Reserve is a primary driver of USD/CAD alongside oil prices.
How do I get USD/CAD via the API?: GET /v1/latest/USD?symbols=CAD returns the indicative rate, source, market_session, and timestamp. The free tier covers it, no credit card required. All rates are indicative, not for settlement.
Is USD/CAD less volatile than other major pairs?: It often trades with somewhat lower day-to-day volatility given the depth of US-Canada trade ties, though sharp oil-price moves can still produce significant swings.
Is this a settlement-grade rate?: No. It is an indicative mid-market reference rate for informational use, not for settlement, invoicing, or regulated trading.