Currency Converter (Bank of Canada Daily Rates)

Convert Canadian dollars to 25+ currencies using the Bank of Canada's official daily average exchange rates — useful for tax reporting and checking what your bank charges.

Amount

From

1,000 Canadian dollars =

704.82 USD

1 CAD = 0.70482 USD · 1 USD = 1.4188 CAD

Bank of Canada daily average rate for 2026-09-29. These are indicative mid-market rates published once per business day — banks and brokers add a spread when you actually convert.

Why use Bank of Canada rates?

The Bank of Canada publishes a single daily average rate for about two dozen currencies each business day. These rates are widely used for tax reporting — the CRA generally accepts the Bank of Canada rate on the day of a transaction (or an annual average rate in some situations) for converting foreign income and gains into Canadian dollars.

They're also a fair benchmark for checking what your bank charges. If the Bank of Canada rate for USD is 1.4168 and your bank sells you U.S. dollars at 1.45, you're paying roughly a 2.3% spread.

Limitations

Rates are published once per business day (after the market day), not in real time.
They're mid-market averages — you can't actually trade at them.
Weekend and holiday dates use the previous business day's rate.

For the cost of converting larger amounts, try our CAD→USD conversion cost calculator, and see the full Bank of Canada rates table.

Questions

Which exchange rate should I use for my taxes?

The CRA generally accepts the Bank of Canada exchange rate in effect on the day of the transaction. For some recurring income, an annual average rate may be acceptable. Check CRA guidance or ask a tax professional.