US Canada Exchange Rate – Current Rate Chart and Forecast

The USD/CAD exchange rate is currently trading between 1.385 and 1.392 as of early April 2026, with one United States dollar purchasing approximately 1.39 Canadian dollars. This level reflects recent volatility, as the currency pair touched 1.3925 on April 7, 2026, before settling at 1.3854 by April 9, 2026.

Market data indicates the Canadian dollar has weakened roughly 2.01% against its U.S. counterpart over the past month, extending a 12-month appreciation of 3.25% for the USD/CAD pair. Traders and consumers monitoring cross-border purchasing power now face a rate hovering near the 20-year historical average of 1.381958.

Daily fluctuations continue to characterize the pair, with intraday movements ranging between 0.2% and 0.5%. The current environment reflects divergent monetary policies, with the Bank of Canada maintaining a 2.25% policy rate while the U.S. Federal Reserve holds at 3.75%, creating a 150 basis point spread that generally supports dollar strength.

What is the Current USD to CAD Exchange Rate?

• Recent High: USD/CAD reached 1.392469 on April 7, 2026, according to OFX data.
• Monthly Weakness: The Canadian dollar has depreciated 2.01% against the USD over the past month.
• Annual Performance: The pair shows a 12-month gain of 3.25% for the U.S. dollar.
• Historical Context: Current rates trade near the 20-year average of 1.381958.
• Rate Differential: The spread between the Fed’s 3.75% and BoC’s 2.25% favors USD.
• Volatility: Daily swings typically range from 0.2% to 0.5%.
• All-Time Comparison: The record high of 1.62, set in January 2002, remains distant.

USD CAD Exchange Rate Chart and History

Recent Monthly Performance

Data from OFX reveals a downtrend from late 2025 peaks, with the pair stabilizing between 1.37 and 1.39 throughout early 2026. November 2025 marked a local high at 1.40505, followed by a gradual decline through February 2026, when rates bottomed at 1.365178. The subsequent rebound through March and early April brought the exchange rate back toward 1.39.

Daily trading sessions show significant volatility. Recent data from Investing.com documents intraday highs and lows ranging between 1.3881 and 1.3763 in prior sessions, highlighting the risk of executing conversions during peak volatility periods.

Long-Term Historical Context

The Trading Economics historical database confirms the current rate sits just above the multi-decade mean. While the all-time high of 1.62 recorded in January 2002 represents extreme weakness in the loonie, contemporary levels near 1.39 reflect more moderate conditions. Over the past year, the Canadian dollar has shown resilience on an annual basis despite recent monthly declines.

USD CAD Exchange Rate Forecast and Outlook

Short-Term Projections

Analysts at Trading Economics project the USD/CAD rate will remain at 1.39 through the end of the second quarter of 2026. This outlook implies continued stabilization near current levels, with the Canadian dollar potentially maintaining its existing range against the greenback through mid-year.

12-Month Forward View

Looking ahead to April 2027, consensus forecasts indicate a potential decline to 1.37, suggesting moderate strengthening of the Canadian dollar over the next year. This projection would reverse approximately half of the recent monthly gains realized by the USD and return the pair closer to February 2026 lows.

What Factors Affect the US Canada Exchange Rate?

Interest Rate Differentials

The spread between central bank policy rates remains a primary driver. Current XE data shows the Federal Reserve at 3.75% against the Bank of Canada’s 2.25%, creating yield advantages that typically attract capital toward USD-denominated assets and support the exchange rate near 1.39.

Commodity Price Dynamics

As a resource-linked currency, the Canadian dollar maintains sensitivity to oil and other commodity prices. Market analysis indicates fluctuations in energy markets continuously impact CAD valuation, with weakness in crude often corresponding to USD/CAD appreciation.

Economic Data and Policy

Cross-border economic indicators, including GDP differentials, employment reports, and inflation data from Wise tracking mechanisms, contribute to intraday volatility. The Bank of Canada’s effective exchange rate index (CERI), last updated in January 2018, provides historical context for official measurements.

How Has the USD CAD Rate Changed Over Time?

1. November 30, 2025: Rate reached 1.40505, marking a late-2025 peak before the subsequent decline. Source
2. December 31, 2025: Closed at 1.3786 as the downtrend began. Source
3. January 31, 2026: Fell to 1.377931, continuing the slide. Source
4. February 28, 2026: Hit a low of 1.365178 for the recent cycle. Source
5. March 31, 2026: Recovered to 1.372518 ahead of April volatility. Source
6. April 7, 2026: Spiked to 1.392469 on renewed USD strength. Source
7. April 9, 2026: Retreated to 1.3854, stabilizing below the recent high. Source

What is Certain vs. Uncertain About Future Rates?

Why Does the US Canada Exchange Rate Matter?

The USD/CAD exchange rate directly impacts approximately $1.3 billion in daily cross-border trade between the United States and Canada. Importers and exporters face immediate margin pressure when the rate moves beyond the 1.38-1.40 range, while tourists and students experience changes in purchasing power that affect everything from accommodation costs to textbook prices.

For individuals, the difference between converting 142 USD to CAD at 1.36 versus 1.39 represents nearly CAD 4.26 in variance on that single transaction. Similarly, understanding sizing differences like Size 39 in Canada highlights broader cross-border measurement standards that affect commerce alongside currency values.

Remittance flows and international investments also track this pair closely. With the Federal Reserve’s H.10 release showing CAD rates between 1.4465 and 1.4571 in early April contexts, institutional players monitor these official measurements for benchmark pricing of derivatives and hedging instruments.

Data Sources and Official Rate Publications

Primary data originates from the Bank of Canada’s exchange rate index archives, though the institution notes its CERI data was last updated in January 2018 for historical series. Current spot rates derive from market data aggregators including OFX, XE, and Trading Economics, which track interbank pricing.

The Federal Reserve’s H.10 statistical release for April 6, 2026, indicated CAD reference rates between 1.4465 and 1.4571, providing official U.S. government benchmarks for the currency pair.

— Federal Reserve Statistical Release

Historical exchange rate data from November 2025 through March 2026 demonstrates a clear downtrend from 1.40505 to 1.372518, followed by sharp April appreciation.

— OFX Historical Exchange Rates

Summary of Current USD to CAD Conditions

The USD/CAD exchange rate currently trades near 1.39, representing a 2.01% monthly gain for the U.S. dollar and positioning the pair above the 20-year historical average. With the Bank of Canada maintaining a 2.25% policy rate against the Federal Reserve’s 3.75%, interest rate differentials support continued dollar strength, though 12-month forecasts suggest a potential reversion toward 1.37. Those monitoring specific conversion amounts, such as checking the value of 142 USD to CAD, should note that daily volatility ranges between 0.4% and 0.56%, making timing significant for larger transactions.

Frequently Asked Questions