The Canadian dollar strengthened past 1.37 per US dollar, outperforming its G7 peers and reached a near 1-month high as the simultaneous impact of surging energy prices and a cooling US labor market reshaped the North American monetary landscape. This appreciation is primarily driven by a surge in WTI crude oil past 92$ per barrel which has increased foreign currency inflows into Canada's energy-heavy economy. The loonie found additional support from the closure of the Strait of Hormuz which highlighted Canada as a secure energy provider for the US. The Bank of Canada has further supported the currency by maintaining a steady 2.25% policy rate since January to address sticky headline inflation of 2.3% and a tight 6.5% unemployment rate. Unlike the Federal Reserve which now faces pressure for July rate cuts, after the unexpected loss of 92K US jobs triggered a decline in the dollar index, the Canadian central bank's firm stance offers a yield buffer against 10% US import tax threats.

The USD/CAD exchange rate rose to 1.3585 on March 9, 2026, up 0.13% from the previous session. Over the past month, the Canadian Dollar has weakened 0.23%, but it's up by 5.95% over the last 12 months. Historically, the USDCAD reached an all time high of 1.62 in January of 2002. Canadian Dollar - data, forecasts, historical chart - was last updated on March 9 of 2026.

The USD/CAD exchange rate rose to 1.3585 on March 9, 2026, up 0.13% from the previous session. Over the past month, the Canadian Dollar has weakened 0.23%, but it's up by 5.95% over the last 12 months. The Canadian Dollar is expected to trade at 1.36 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.33 in 12 months time.



Crosses Price Day Year Date
USDCAD 1.3589 0.0022 0.16% -5.92% Mar/09
EURCAD 1.5737 -0.0026 -0.16% 0.59% Mar/09
GBPCAD 1.8196 0 0% -2.15% Mar/09
AUDCAD 0.9562 0.0020 0.21% 5.46% Mar/09
NZDCAD 0.8032 0.0029 0.36% -2.62% Mar/09
CADJPY 116.4914 0.1571 0.14% 14.25% Mar/09
CADCNY 5.0870 -0.0058 -0.11% 1.16% Mar/09
CADCHF 0.5738 0.0018 0.31% -5.93% Mar/09
CADARS 1,041.8205 -1.5625 -0.15% 41.26% Mar/09
CADBRL 3.8392 -0.0267 -0.69% -5.31% Mar/09
CADCZK 15.5219 -0.0748 -0.48% -3.00% Mar/09
CADDKK 4.7473 0.0077 0.16% -0.39% Mar/09
CADHUF 250.7561 0.9105 0.36% -2.02% Mar/09
CADIDR 12,468.4853 -23.8677 -0.19% 9.83% Mar/09
CADINR 67.9739 0.2139 0.32% 12.43% Mar/09
CADKRW 1,087.1962 -5.1421 -0.47% 7.57% Mar/09
CADMXN 13.1029 -0.0223 -0.17% -7.03% Mar/09
CADMYR 2.9182 0.0098 0.34% -4.71% Mar/09
CADRUB 58.6972 0.4699 0.81% -3.24% Mar/09
 Currencies
 CAD...
 ...CAD



Related Last Previous Unit Reference
Canada Inflation Rate 2.30 2.40 percent Jan 2026
United States Inflation Rate 2.40 2.70 percent Jan 2026
United States Fed Funds Interest Rate 3.75 3.75 percent Feb 2026
Canada Interest Rate 2.25 2.25 percent Feb 2026
United States Unemployment Rate 4.40 4.30 percent Feb 2026
Canada Unemployment Rate 6.50 6.80 percent Jan 2026

Canadian Dollar
The USDCAD spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the CAD. While the USDCAD spot exchange rate is quoted and exchanged in the same day, the USDCAD forward rate is quoted today but for delivery and payment on a specific future date.
Actual Previous Highest Lowest Dates Unit Frequency
1.36 1.36 1.62 0.91 1971 - 2026 Daily

News Stream
Canadian Dollar Rebounded to Near 1-Month Highs
The Canadian dollar strengthened past 1.37 per US dollar, outperforming its G7 peers and reached a near 1-month high as the simultaneous impact of surging energy prices and a cooling US labor market reshaped the North American monetary landscape. This appreciation is primarily driven by a surge in WTI crude oil past 92$ per barrel which has increased foreign currency inflows into Canada's energy-heavy economy. The loonie found additional support from the closure of the Strait of Hormuz which highlighted Canada as a secure energy provider for the US. The Bank of Canada has further supported the currency by maintaining a steady 2.25% policy rate since January to address sticky headline inflation of 2.3% and a tight 6.5% unemployment rate. Unlike the Federal Reserve which now faces pressure for July rate cuts, after the unexpected loss of 92K US jobs triggered a decline in the dollar index, the Canadian central bank's firm stance offers a yield buffer against 10% US import tax threats.
2026-03-06
Canadian Dollar Hovers Around 1-Month Lows
The Canadian dollar weakened to 1.37 per US dollar, testing one-month lows as a surge in geopolitical risk and a shrinking domestic economy triggered a move back into the US dollar. Despite a massive 8% spike in oil prices following the closure of the Strait of Hormuz, the Loonie struggled to find support as the greenback’s safe-haven appeal dominated global markets. Internal pressures intensified after fourth-quarter data confirmed a 0.6% contraction in Canada’s GDP, highlighting the slowest growth period since 2020. While the February manufacturing PMI hit a 13-month high of 51, the positive data was overshadowed by fears that a prolonged Middle East conflict will disrupt 20% of global oil shipments and reignite inflation. Even with favorable trade exemptions from new US duties, the Canadian dollar remains pinned near one-month lows as the Bank of Canada faces the difficult task of balancing high energy costs against a cooling domestic economy.
2026-03-02
Canadian Dollar Climbs to 2-Week High
The Canadian dollar appreciated toward 1.36 per US dollar reaching two-week highs amid a global trade pivot favoring Canada’s relative stability over US policy uncertainty. While the economy officially shrank by 0.6% in the fourth quarter, the Loonie climbed because the US Supreme Court struck down broad emergency tariffs. Although the White House responded with new Section 122 duties, these rules explicitly exempt trade-compliant goods from Canada. Furthermore, while US producer prices came in higher than expected, the US dollar remained flat as investors focused on falling Treasury yields. Canada also benefited from a recovery in oil prices toward $66 after progress stalled in nuclear talks. This combination of secured trade status and higher energy prices allowed the currency to ignore the domestic growth slump. Investors are essentially treating the Loonie as a stable alternative in a messy North American trade environment.
2026-02-27