- Converter From Us To Canadian Funds Download Backstage 2017
- Converter From Us To Canadian Funds Download Backstage Site
- Converter From Us To Canadian Funds Download Backstage List
- January 29, 2015
- Posted by: Paul Foster
- Categories: Business financial help, Grow a Business, Managing business revenue
Convert To Result Explain 1 CAD: USD: 0.78602 USD: 1 Canadian Dollar = 0.78602 US Dollars as of 1/20/2021. The US and Canadian governments agreed to close the border to all non-essential travel as of March 21, which has been extended multiple times in 30-day increments. On April 18, Canadian Prime Minister Justin Trudeau said, “This is an important decision and one that will keep people on both sides of the border safe.”. Convert US Dollar to Canadian Dollar. $ 1 = $ 1.2694 $ 1 = $ 1.2694 $ 5 = $ 6.3472 $ 10 = $ 12.6944 $ 50 = $ 63.4722 $ 100 = $ 126.9445 $ 500 = $ 634.7225 $ 1000 = $ 1269.4450: US Dollar. If you're buying gas with your credit card, be aware that many cards charge a foreign currency transaction fee: usually 2.5%. Keep that in mind if you're trying to calculate how much money you're saving. Going from us to cdn seems risky with NG. I recently exchanged 500k us to cdn using fidelity at a fee of 30bps (0.30%), in other words it cost me $1500 off the rate. The interbank rate is 0.10%, that’s what the banks charge each other, impossible for the average guy to get that rate. Money was converted instantly with no other fees or hassles.
First let’s make sure you understand how the rates are calculated by the banks.
The percentage used to calculate the exchange is not the same as the difference between the two currencies.
For example: If 1.00 dollars Canadian equals .80 dollars US, you might assume the percentage to calculate exchange is .20 or 20%. It’s not.
If you are converting from Canadian to US you multiply by .80 or 80%. Try it on your calculator = 1.00 x .80 = .80.
But going from US currency to Canadian currency, you multiple by 1.25 or 125%. Try that on your calculator – 100 x 1.25 = 1.25.
The reason for the difference is due to using a different starting point to multiply the percentage by. Here is the best way to figure it out:
- Since (Currency 1) X Unknown Percentage Rate = (Currency 2)
- If you remember from math class this also means Unknown Percentage Rate = Currency 2/Currency 1
- If you are starting with Canadian dollars exchanging to US dollars, you calculate the percentage as US/CAD = 80/100 = 80%
- If you are starting with US dollars exchanging to Canadian dollars, you calculate the percentage as CAD/US = 100/80 = 125%
Once you know the percentage you can multiply it by any amount of funds you want to convert. For example if you have $400US, you can convert it to $400 x 125% = $500.
If you have $500 Canadian, you can convert it – $500 x 80% = $400 US.
If you find all these calculations too much, there’s an app for that.
Converter From Us To Canadian Funds Download Backstage 2017
When you check with the bank to rates will be slightly difference due to the fact they charge a small percentage to make a profit from buying and selling currencies.
Two money saving tips
- For Canadian who use US money, set up a US dollar denominated bank account. It is slightly cheaper to buy US for your US account and then withdraw it than to just buy US cash directly from the bank.
- You get a better rate for amounts over $25,000. If you are converting a lot of funds, doing it in larger amounts could save some cash.
Converter From Us To Canadian Funds Download Backstage Site
Converter From Us To Canadian Funds Download Backstage List