Convert USD to CAD: Current Rate + Manual Calculation Guide (2025)

If you’ve ever checked the USD to CAD exchange rate before a transfer or a trip, you’ve probably noticed that the number you see online isn’t the same as what your bank offers — for example, as of April 2025, Wise lists the mid-market rate at 1.35595 CAD per USD while Revolut shows 1.39780 CAD. This guide explains how to convert manually, compares bank markups versus specialist providers, and looks at the factors behind the Canadian dollar’s recent weakness.

Wise mid-market rate: 1 USD = 1.35595 CAD (Wise) ·
Revolut live rate: 1 USD = 1.39780 CAD (Revolut) ·
Typical bank markup: 2.5% to 3.5% above mid-market (CanAm Currency Exchange)

A quick comparison shows the spread between providers and the real cost of bank markups.

How much is $1 USD in CAD today?

As of April 2025, the live rates provided by specialist currency platforms offer the most transparent benchmark. Wise (fee-comparison service) shows a mid-market rate of 1.35595 CAD per USD. Meanwhile, Revolut (digital banking app) displays a rate of 1.39780 CAD. The difference of about 3% between these two rates highlights why it pays to shop around.

Mid-market rate explained

• The mid-market rate is the midpoint between the buy and sell prices on global currency markets (Wise).
• It is the rate you see on Google or XE, but not the rate you actually get at a bank or ATM.

Live rate from Wise and Revolut

• Wise updates its live rate every 30 seconds (Wise).
• Revolut’s converter refreshes with market data throughout the day (Revolut).

Bottom line: For a quick “how much is $1 USD in CAD,” check Wise or Revolut for the current mid-market rate. Banks will give you a less favorable number.

How much is $100 US in Canadian?

Using the rates from our sources, here is what $100 USD would yield as of April 2025:

• At Wise’s mid-market rate: 100 × 1.35595 = $135.60 CAD (Wise). Wise’s fee for a transfer would reduce this slightly.
• At Revolut’s live rate: 100 × 1.39780 = $139.78 CAD (Revolut).
• Through a Canadian bank with a 2.5% markup: 100 × 1.3796 (mid-market) × 1.025 = $141.41 CAD. But the bank’s displayed rate already includes the markup, so you would see a worse rate than the mid-market.

Bottom line: For small amounts, the difference is modest. For frequent or large transfers, every percentage point matters.

How do I convert USD to CAD manually?

Manual conversion is straightforward and gives you a benchmark to compare against any provider’s quote.

1. Step 1: Find the current exchange rate. Use Wise, Revolut, or XE.com for the live mid-market rate (Wise, Revolut). For bank rates, check the provider’s own currency converter (e.g., RBC Bank).
2. Step 2: Multiply USD amount by the rate. Formula: CAD = USD × exchange rate (Calculator.net). Example: $200 × 1.35595 = $271.19 CAD.
3. Step 3: Account for fees and markup. Add the provider’s fee or markup to the mid-market rate. For banks, multiply the result by (1 + markup%). Wise charges a transparent fee (e.g., $5.76 for $1,000) (Wise). Bank markups are hidden in the rate and typically range from 2.5% to 3.5% (CanAm Currency Exchange).
4. Example calculation: $100 USD at 1.38 = $138 CAD. Mid-market: $100 × 1.3796 = $137.96 CAD. With 2.5% bank markup: $137.96 × 1.025 = $141.41 CAD (bank rate shown would be around 1.4141). With Wise fee (0.5% of $100 = $0.50): $137.96 – $0.50 = $137.46 CAD.

Bottom line: Manual conversion reveals the true cost. Always compare the final delivered amount, not just the headline rate.

Why is CAD so weak?

Several structural factors have kept the Canadian dollar under pressure in 2024 and early 2025.

Impact of oil prices on CAD

• CAD is a commodity currency: its value correlates strongly with oil prices. When crude oil falls below $75/barrel, CAD tends to weaken (CanAm Currency Exchange).

Interest rate differentials

• The Federal Reserve held rates higher than the Bank of Canada in 2024, making USD more attractive (CanAm Currency Exchange).
• Bank of Canada rate cuts in 2024 weakened CAD further.

US economic strength vs. Canadian growth

• US GDP grew 2.8% in 2024, while Canada’s grew only 1.2% (sourced from CanAm Currency Exchange analysis, which cites IMF data).

Bottom line: CAD’s weakness is not accidental — it reflects lower oil prices, a dovish central bank, and slower economic growth relative to the US.

What is the best way to convert USD to CAD?

The answer depends on the amount, speed, and whether you need cash or digital transfer.

Online currency converters (XE, Wise, OANDA)

• Wise offers the lowest fees (0.5–1%) for digital transfers (Wise).
• XE.com provides mid-market rates for reference but charges on actual transfers.

Bank foreign exchange services

• Convenient but expensive. RBC, TD, and Scotiabank all charge markups of 2.5% or more (CanAm Currency Exchange).
• Use the Bank of America currency converter or RBC Bank calculator to see their rates before committing.

ATM and cash exchange tactics

• ATMs often charge a 1–3% conversion fee plus a fixed fee. Check with your bank before traveling.

A dedicated comparison of providers reveals the real cost differences.

Bottom line: Wise offers the best rate for digital transfers. For cash travelers, comparing bank quotes in advance can save 2–3%.

Wise uses the mid-market exchange rate and a separate transparent fee.

Wise (fee-comparison service)

Revolut’s currency converter shows the exchange rate plus any fees that may apply.

Revolut (digital banking app)

The currency converter calculator can be used to find out how much foreign currency is needed and to check exchange rates for purchasing various currencies.

Bank of America (foreign exchange service)

For anyone converting USD to CAD, the choice is clear: use a specialist provider like Wise for small transfers, or pay up to 3% more at a bank. The few minutes it takes to compare rates can save significant money on any transfer.

För större belopp, som 16000 USD, blir skillnaden mellan mid-market rate och bankernas påslag särskilt påtaglig; du kan läsa 16000 USD to CAD conversion guide för en detaljerad genomgång.

Frequently asked questions