
Canadian Dollar
CAD
- Convertible: Yes
- Transferable: Yes
- Exchange rate regime: Floating
Available Currency Pairs

EURCAD
View EUR
USDCAD
View USD
GBPCAD
View GBP
CHFCAD
View CHF
CADAED
View AED
CADCNY
View CNH/CNY
CADCZK
View CZK
CADDKK
View DKK
CADHKD
View HKD
CADHUF
View HUF
CADILS
View ILS
CADJPY
View JPY
CADMXN
View MXN
CADNOK
View NOK
CADNZD
View NZD
CADRON
View RON
CADSEK
View SEK
CADSGD
View SGD
CADTHB
View THB
CADZAR
View ZAR
CADPLN
View PLNTransaction Types
FX SPOT
Delivery date: T; T+1; T+2
Liquidity: High
FX FORWARD
Maximum maturity: 24 months
Liquidity: High
Did You Know?
Monetary policy
- 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.
Expert Opinion
- 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.
Regulations
There are no special restrictions on the purchase and sale of CAD.
Important Information
PAYMENTS IN CAD TO CANADA
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
PUBLIC HOLIDAYS
New Year's Day 1 Jan
Victoria/Patriot’s Day 21 May
Labour Day 3 Sep
Remembrance Day OBS 12 Nov
Boxing Day 26 Dec
Good Friday 30 Mar
Canada Day OBS 2 Jul
Thanksgiving 8 Oct
Christmas 25 Dec
When a holiday falls on a weekend, the next business day becomes a holiday
Useful Links
Currency Reference Guide
Get the full currency reference guide, updated by the iBanFirst currency market experts
Reference guide