Canadian Dollar

CAD

  • Convertible: Yes
  • Transferable: Yes
  • Exchange rate regime: Floating
Currency Reference Centre

Available Currency Pairs

EURCAD

View EUR

USDCAD

View USD

GBPCAD

View GBP

CHFCAD

View CHF

CADAED

View AED

CADCNY

View CNH/CNY

CADCZK

View CZK

CADDKK

View DKK

CADHKD

View HKD

CADHUF

View HUF

CADILS

View ILS

CADJPY

View JPY

CADMXN

View MXN

CADNOK

View NOK

CADNZD

View NZD

CADRON

View RON

CADSEK

View SEK

CADSGD

View SGD

CADTHB

View THB

CADZAR

View ZAR

CADPLN

View PLN

Transaction Types

FX SPOT
Delivery date: T; T+1; T+2
Liquidity: High
FX FORWARD
Maximum maturity: 24 months
Liquidity: High

Did You Know?

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Monetary policy

  • The Bank of Canada (BoC) is the country’s central bank. Its objective is to promote the country’s economic and financial prosperity.
  • Price setting method: the exchange rate is floating. The BoC does not, in principle, make any direct intervention in the foreign exchange market.
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Features and highlights

  • Canada is a major trading partner of the USA: therefore, the evolution of the Canadian currency can be influenced by the American political and economic situation.
  • The CAD is commonly called Loonie, in reference to the aquatic bird living in the country.

The currency pair USD/CAD has standard spot exchange delay of T+1 (instead of T+2). EUR/CAD is the usual T+2.

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Expert Opinion

  • The CAD is one of the main "commodity currencies". Its evolution is therefore often correlated with that of energy prices (oil, gas) of which Canada is a major producer.
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Regulations

There are no special restrictions on the purchase and sale of CAD.

Important Information

PAYMENTS IN CAD TO CANADA

Canada does not use the IBAN format.

Payment instructions must contain:

  • Either: BIC Code of the beneficiary bank as well as the name, address and account number of the beneficiary
  • Or: "Routing Number", the name and address of the bank, as well as the name, address and account number of the beneficiary.

The routing number has nine digits with the following format: 0YYYXXXXX

  • YYY is the bank code.
  • XXXXX is the "Transit Number" or branch code.

Keep In Mind

PUBLIC HOLIDAYS

New Year's Day 1 Jan
Victoria/Patriot’s Day 21 May
Labour Day 3 Sep
Remembrance Day OBS 12 Nov
Boxing Day 26 Dec
Good Friday 30 Mar
Canada Day OBS 2 Jul
Thanksgiving 8 Oct
Christmas 25 Dec

When a holiday falls on a weekend, the next business day becomes a holiday

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Currency Reference Guide

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Reference guide