The US Dollar vs. the Canadian Dollar is a very popular currency pair due to the extremely large amount of cross border trading that occurs between the U.S. and Canada. The CAD is considered to be a commodity currency because of the large amount of natural resources, especially oil, that are mined and exported to southern neighbors. The USDCAD is one of the most traded currency pairs in the world.
- USD/CAD is the currency pair for the U.S. and Canadian Dollars.
- This quote tells you how many CAD can be bought with one USD.
- The USD has typically been stronger than the CAD over time, although it had reached parity of 1:1 briefly following the Great Recession.