The Canadian dollar strengthened to 1.37 per USD in April, the strongest in one month, amid support from high oil prices and the outlook of a hawkish Bank of Canada. Despite momentary signals of de-escalation between the US and Iran, energy exports from the Persian Gulf remained targeted by Iranian forces and the US Navy seized an Iranian cargo ship, effectively halting tanker flows and trade in the Hormuz chokepoint. The surge in energy prices increased the inflows of foreign exchange into the Canadian financial system as Canada exports a large volume of energy, supporting the loonie. In turn, the resulting upswing in inflation drove the BoC to signal it will combat risks of higher energy prices resulting in entrenched inflation, also supporting the currency. The developments drove the Canadian dollar to outperform other G10 currencies since March as the global economy increased dollar positions due to its safe-haven status.

The USD/CAD exchange rate rose to 1.3657 on April 21, 2026, up 0.10% from the previous session. Over the past month, the Canadian Dollar has strengthened 0.50%, and is up by 1.13% 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 April 21 of 2026.

The USD/CAD exchange rate rose to 1.3657 on April 21, 2026, up 0.10% from the previous session. Over the past month, the Canadian Dollar has strengthened 0.50%, and is up by 1.13% over the last 12 months. The Canadian Dollar is expected to trade at 1.37 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.35 in 12 months time.



Crosses Price Day Year Date
USDCAD 1.3656 0.0011 0.08% -1.15% Apr/21
EURCAD 1.6056 -0.0027 -0.17% 1.77% Apr/21
GBPCAD 1.8445 -0.0021 -0.11% 0.16% Apr/21
AUDCAD 0.9770 -0.0024 -0.24% 11.10% Apr/21
NZDCAD 0.8062 0.0023 0.29% -2.38% Apr/21
CADJPY 116.5740 0.1663 0.14% 13.75% Apr/21
CADCNY 4.9923 -0.0031 -0.06% -5.70% Apr/21
CADCHF 0.5712 0.0007 0.12% -3.66% Apr/21
CADARS 1,007.9362 -1.1222 -0.11% 26.23% Apr/21
CADBRL 3.6264 -0.0132 -0.36% -13.55% Apr/21
CADCZK 15.1286 0.0255 0.17% -4.79% Apr/21
CADDKK 4.6528 0.0065 0.14% -1.69% Apr/21
CADHUF 225.3269 0.2756 0.12% -13.07% Apr/21
CADIDR 12,554.0685 -1.4496 -0.01% 2.84% Apr/21
CADINR 68.4177 0.1678 0.25% 10.87% Apr/21
CADKRW 1,075.8936 -3.0044 -0.28% 3.92% Apr/21
CADMXN 12.6826 0.0080 0.06% -10.68% Apr/21
CADMYR 2.8940 -0.0028 -0.10% -8.95% Apr/21
CADRUB 54.7376 -0.1942 -0.35% -7.25% Apr/21
 Currencies
 CAD...
 ...CAD



Related Last Previous Unit Reference
Canada Inflation Rate 2.40 1.80 percent Mar 2026
United States Inflation Rate 3.30 2.40 percent Mar 2026
United States Fed Funds Interest Rate 3.75 3.75 percent Mar 2026
Canada Interest Rate 2.25 2.25 percent Mar 2026
Canada Unemployment Rate 6.70 6.70 percent Mar 2026
United States Unemployment Rate 4.30 4.40 percent Mar 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
1.37 1.36 1.62 0.91 1971 - 2026 Daily

News Stream
Canadian Dollar Holds at 1-Month High
The Canadian dollar strengthened to 1.37 per USD in April, the strongest in one month, amid support from high oil prices and the outlook of a hawkish Bank of Canada. Despite momentary signals of de-escalation between the US and Iran, energy exports from the Persian Gulf remained targeted by Iranian forces and the US Navy seized an Iranian cargo ship, effectively halting tanker flows and trade in the Hormuz chokepoint. The surge in energy prices increased the inflows of foreign exchange into the Canadian financial system as Canada exports a large volume of energy, supporting the loonie. In turn, the resulting upswing in inflation drove the BoC to signal it will combat risks of higher energy prices resulting in entrenched inflation, also supporting the currency. The developments drove the Canadian dollar to outperform other G10 currencies since March as the global economy increased dollar positions due to its safe-haven status.
2026-04-20
Canadian Dollar Weakens as Oil Prices Plunge on Peace Hopes
The Canadian dollar depreciated by 0.3% toward 1.36 against the USD on Friday, as the currency reacted to a sharp 12% dive in oil prices to $82. This drop followed news that the Strait of Hormuz is "completely open" to commercial vessels during a ceasefire between Israel and Lebanon, which has quickly reduced the fear of a global energy crisis. Because Canada is a major oil exporter, the lower prices mean less income for the country, putting pressure on its currency. At the same time, the de-escalation of the conflict has calmed inflation worries, leading investors to bet that the Bank of Canada will cut interest rates sooner than expected. Although the US Dollar Index (DXY) also fell to 97.7, the combination of cheaper oil and the shift toward lower interest rates has tempered the recent demand for the Canadian currency.
2026-04-17
Canadian Dollar Hits 4-week High
The Canadian Dollar touched 1.37 against the USD, the highest since March 2026. Over the past 4 weeks, US Dollar Canadian Dollar lost 0.44%, and in the last 12 months, it decreased 1.25%.
2026-04-17