For example, the Royal Bank of Canada doesn’t charge its account holders an exchange fee. Since you have an existing relationship with them, your bank is likely to give you the best exchange rates and charge the lowest fees. Exchange at a bank or credit union before your trip: Heading to your bank before your trip is often the most cost-effective way to exchange currency.Here are three ways to get the currency you need while minimizing the fees you’ll be charged: When you’re ready to buy USD, it’s a good idea to plan ahead to ensure that you pay the fewest fees. $500 CAD x 0.76 = $380 USD How to Buy US Dollars Using the current exchange rate, the formula for your conversion would look like this: dollars you have for a trip to the United States. Let’s say you have $500 CAD and would like to figure out how many U.S. dollars that you have to spend on your trip (however, be aware that this calculation doesn’t factor in any fees). The resulting number will show you the amount of U.S. Once you know that information, multiply the amount you have in CAD by the current exchange rate. At the time of writing, $1 CAD is worth $0.76 USD. However, in order to do this, you need to know the current exchange rate. The other option is to do the calculation manually using a simple mathematical formula. Individual merchants may also charge supplemental fees if you ask them to convert the price of an item to your home currency at checkout. For instance, credit card companies usually charge a 2.5% conversion fee on all foreign transactions, and ABM networks, which are called ATMs in the United States, may charge an additional flat fee. Keep in mind that exchanging currency often comes with added fees that a conversion calculator won’t be able to predict. Since exchange rates fluctuate on a daily basis, using a calculator can ensure your math is correct.

Using a currency conversion calculator is often the easiest way to get an estimate when you’re converting currency. You can make the conversion using a calculator or you can do it by hand. Via Wise website How to Convert CAD to USDįortunately, converting Canadian dollars to USD is fairly simple.

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