Available Currency Pairs
Did You Know?
- The Bank of Canada (BoC) is the country’s central bank. Its objective is to promote the country’s economic and financial prosperity.
- Price setting method: the exchange rate is floating. The BoC does not, in principle, make any direct intervention in the foreign exchange market.
Features and highlights
- Canada is a major trading partner of the USA: therefore, the evolution of the Canadian currency can be influenced by the American political and economic situation.
- The CAD is commonly called Loonie, in reference to the aquatic bird living in the country.
The currency pair USD/CAD has standard spot exchange delay of T+1 (instead of T+2). EUR/CAD is the usual T+2.
- The CAD is one of the main "commodity currencies". Its evolution is therefore often correlated with that of energy prices (oil, gas) of which Canada is a major producer.
There are no special restrictions on the purchase and sale of CAD.
Canada does not use the IBAN format.
Payment instructions must contain:
- Either: BIC Code of the beneficiary bank as well as the name, address and account number of the beneficiary
- Or: "Routing Number", the name and address of the bank, as well as the name, address and account number of the beneficiary.
The routing number has nine digits with the following format: 0YYYXXXXX
- YYY is the bank code.
- XXXXX is the "Transit Number" or branch code.
Keep In Mind
When a holiday falls on a weekend, the next business day becomes a holiday