USD this summer: what moved and what it means for your trip
The loonie spent the summer in one of its calmest ranges in years. Here's what that means if you're buying US dollars for a trip south, and why waiting for a better rate probably isn't worth it right now.
The Canadian dollar traded in one of its quietest summer ranges in years, and for travellers that's good news.
What happened
The loonie held between 72 and 75 US cents through June and July. Rate cuts landed on both sides of the border, and because the Bank of Canada and the Federal Reserve largely moved together, the pair had little reason to swing.
What a stable pair means for you
When USD/CAD moves 3 or 4 cents in a month, timing your exchange can genuinely matter. When it moves less than a cent, timing is mostly noise. The difference between buying today and buying "on a good day" next week is often smaller than the spread you'd pay anywhere else in town.
- Buying USD for travel: buy when you need it. With a stable pair, there's little to gain from gambling on timing.
- Still want to catch a dip? Set a free rate alert. Name your target and we'll email you the moment it lands on our board. No account, one email, done.
- Large amounts: over CAD $10,000 we negotiate at the counter, and calm markets usually mean we can offer tighter spreads.
The counter version
Our rates refresh every hour, and the board on the rates page is the same one we honour at the counter. There's no "online rate" versus "in-store rate" game here. If you're crossing next weekend, you can reserve your USD online, lock the rate for 60 minutes, and pick up counted cash the same day.
