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For example: instead of stating
that we are converting USD to CAD we would just write: 
. This
is an intuitive and accurate way to identify and think about exchange rates. If
you think in this manner (i.e. in a mathematical sense) when you read articles
and blogs or examine charts and graphs online and in newspapers you will find
yourself confused. The reason is that you will see titles: USD-CAD, USD/CAD,
USDCAD which in a mathematical sense would be 
.
When
you look at the data you’ll find that exchange rate number you will read
is greater than 1 (for example: 1.23). This is counterintuitive because
when converting 1 CAD to X USD (
)
you would expect the exchange rate to be greater than 1 since the USD is stronger
than the CAD.
The main reason for the confusion is that the titles: USD-CAD,
USD/CAD, USDCAD are not written in a mathematical sense, but are written as
abbreviations for “USD to CAD.” This means that we are converting
1 USD to X CAD which is the exchange rate: 
NOT
the exchange rate: 
.
Remember that when you read and examine articles, charts
and graphs, the titles you see are actually stating “USD to CAD” or “CAD
to USD” they are not stating the mathematical expression 
or 
.
Regardless of the title of the article, graph or chart here is a general rule of thumb to identify which exchange rate you are reading based on the number.
This will always apply if the USD is stronger than the CAD (which is likely to remain the case for many years):
Identify 
Exchange
Rate
If this number is greater than 1 the exchange rate is 
since
we are converting 1 USD to CAD and the USD is stronger than the CAD - thus
you will get more than 1 CAD for 1 USD.
Identify 
Exchange
Rate
If this number is less than 1 the exchange rate is 
since
we are converting 1 CAD to USD and the CAD is weaker than the USD - thus
you will get less than 1 USD for 1 CAD.
This series of articles is written by my son, Evan Argentino, who graduated with a Financial Economics Degree from UTM and knows a great deal about Exchange Rate Calcluations between the US and Canadian Dollar - many thanks to Evan for providing this information.
Back to the first page about Converting
Exchange Rate Differences between the US and Canadian Currency
Now that you have performed all the calculations, see a graphical representation of gasoline prices across the USA Here
Read a very detailed analysis of exchange rates and the differences when converting from one currency to another
Rates in above table from Bank of Canada website
Current exchange rate as of July 27, 2018 is $1 US ~ $0.771 CDN
which results in about US
$6.66 per us gal as of July 27, 2018
back in 2012 the exchange rate was $1 US ~ $0.978767 CDN
which results in about US
$5.02 per us gal as of June 19, 2011
US$3.72/USGAL back calculates to CDN$0.9619/litre at
0.978767 CDN/US dollar conversion rate as of June 19, 2011
Update: as of December 12, 2012 in southern Ontario we are experiencing a
sudden drop in gasoline prices at the pump, today's price is only CDN$1.185
per litre and our CDN dollar exchange rate is above part at $1.01 USD per
CDN$ which results in US
$4.40 per us gal as
US price of gasoline is about US$3.65/USGAL back calculates to CDN$0.9835/litre
at 1.01 US/CDN dollar conversion rate as of December 12, 2012
see the current US and Canadian Gasoline prices
US$/CAN$ closing rate summary |
|||
|---|---|---|---|
| Date | USD -> CAD | CAD -> USD | |
| Latest closing | 2013-06-14 | 1.0169 | 0.9834 |
| Past 12 months | |||
| High | 2013-05-28 | 1.0395 | 0.9620 |
| Low | 2012-09-13 | 0.9683 | 1.0327 |
| From 1950 to present | |||
| High | 2002-01-18 | 1.6125 | 0.6202 |
| Low | 2007-11-06 | 0.9215 | 1.0852 |
| Monthly closing, past 12 months | |||
| 2013-05 | 1.0368 | 0.9645 | |
| 2013-04 | 1.0075 | 0.9926 | |
| 2013-03 | 1.0160 | 0.9843 | |
| 2013-02 | 1.0314 | 0.9696 | |
| 2013-01 | 0.9973 | 1.0027 | |
| 2012-12 | 0.9949 | 1.0051 | |
| 2012-11 | 0.9936 | 1.0064 | |
| 2012-10 | 0.9990 | 1.0010 | |
| 2012-09 | 0.9832 | 1.0171 | |
| 2012-08 | 0.9857 | 1.0145 | |
| 2012-07 | 1.0029 | 0.9971 | |
| 2012-06 | 1.0181 | 0.9822 | |
Rates in above table from Bank of Canada website
Below are the exchange rates from 2007 and 2006
| All-Time Low/High October 1950 - present |
||
|---|---|---|
| Low | Date: | 2002-01-21 |
| 1 CAD | 0.6179 USD | |
| High | Date: | 2007-11-07 |
| 1 CAD | 1.1030 USD | |
| Latest Low/High | ||
| Low | Date: | 2013-06-14 |
| 1 CAD | 0.9817 USD | |
| High | Date: | 2013-06-14 |
| 1 CAD | 0.9865 USD | |
| Date | Rate | |
|---|---|---|
| Low | 2013-06-14 | $1 CAN = $0.9817 US |
| High | 2013-06-14 | $1 CAN = $0.9865 US |
Other Calculators found on this website:
view today's mortgage interest rates
Other Calculators found on this website:
The calculator below will determine your monthly mortgage payment (principal and interest)view today's mortgage interest rates
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