Currency Exchange Toronto

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47,000+ Customers

200,000+ Transactions

300 Million+ Exchanged



Since 2012

License: M11432814


Branch Information

Monday - Friday: 9:30 am - 6:00 pm

Saturday: 10:00 am - 4:00 pm

Sunday: 11:00am - 3:00 pm

yonge.sheppard@currencymart.net

Today's Forex News

Technical Analysis – USDCAD eases after aggressive rally to 1.3845

USDCAD rallied towards the 1.3845 high and completed the seventh consecutive green day on Thursday following the bounce off the 200-day simple moving average (SMA) near 1.3600. The pair climbed above the medium-term trading range, suggesting more gains may be on the cards.XM2024-07-26

USD/CAD holds losses around 1.3800 after retreating from eight-month highs

USD/CAD breaks its winning streak that began on July 17, trading around 1.3810 during the Asian session on Friday. The pair retreated from an eight-month high of 1.3849, a level recorded on Thursday.FX Street2024-07-26

Dovish BoC Tilt: Pound Canadian Dollar Exchange Rate Wobbles near Multi-Month High

At the time of writing GBP/CAD was trading at CAD$1.7817, close to a three-and-a-half year high, and virtually unchanged from Thursday's opening rate. The crude-driven Canadian Dollar (CAD) struggled to attract investor support on Thursday in the wake of the Bank of Canada's (BoC) monetary policy meeting.ExchangeRates2024-07-26

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Pulls Back As PCE Index Meets Estimates

Falling Treasury yields put additional pressure on the U.S. dollar.FXEmpire2024-07-26

USD/CAD: To remain close to its recent lows – Scotiabank

The Canadian Dollar (CAD) is slightly firmer on the session and while it remains down (0.6%) on the week versus the US Dollar (USD), it remains a clearly better performer overall than its close commodity peers (AUD and NZD are both down nearly 2%), Scotiabank's Chief FX Strategist Shaun Osborne notes.FX Street2024-07-26

USD/CAD Rally Pauses: Awaiting Next Correction

The USD/CAD pair ended its continuous upward trend on Friday, 26 June 2024, settling around 1.3813, signalling a potential shift towards correction.Action Forex2024-07-26

Additional News:

USD/CAD Price Analysis: Reaches critical point at ceiling of three-month range

USD/CAD has risen to the top of the range it has been trading in since the middle of April. It is at a critical point – a decisive breakout higher would signal a new uptrend; a reversal, however, might signal the continuation of the sideways trend it has been in for the last over three months.FX Street2024-07-26

Too Far from You?


Travel to Winnipeg?


Currency Exchange Near Me


Chart below shows a list of currency exchange me when you are at near major interactions of Toronto.



Payments Accepted


Cash
Debit Card
E-transfer
Wire Transfer
Bill Payment (RBC,BMO & Credit Unions Only)

How We Pay Customers

Cash
E-transfer (CAD only)
CAD or USD cheque
CAD or USD wire transfer ($35/wire)
CAD or USD direct deposit (arrive next business day)

Parking Instruction

Parking is $4 for 30 minutes. We are at L1 level

Parking Entrance at Doris & Greenfield

Foreign Exchange Reference


Currency Exchange

Currency exchange is changing one currency to another for the purpose of travel, purchase or investment. According to a study of Bank for International Settlements, daily average was more than $6 trillion trading volume. Currency Mart acts as a counter-party to an off-exchange or an over-the-counter forex transaction of cash, financial instruments, futures contracts, options on futures contracts. Currency exchange is a decentralized market and operates 24 hours per day around the globe. London, New York and Tokyo are the three major currency exchange markets and followed by cities of Hong Kong and Singapore. Decentralized market means each currency exchange broker offers its own buy in and sell out exchange rates. The rates are determined based on the demand, inventory and supply of the particular dealer and also the interbank rates at that moment. That is why exchange rates at the same moment are similar, but different broker to broker.

Currency Exchange Market of Canada

Annually, about $600 billion Canadian dollars exchanged to other currencies, over 50% is changed to US dollar and Euro dollar is the second most wanted currency. RBC is the major player in Canadian foreign exchange market. With the other four major banks, banks count 90% of market transaction volume. In addition to banks, large corporations who deal with petroleum or grains conduct massive amount of foreign exchange transactions. Licensed brokers who serve retail clients and small businesses fill up the rest of market gap.

Currency Exchange Market of Toronto

The demand of currency exchange in Toronto is mainly from manufacturing actives, because most manufacturing business sell their products to United States and get paid by us dollars. In addition, purchasing property, vehicle, pay tuition and travel expense are supplements of the currency exchange market in Toronto. In fact, the amount of exchanging USD to CAD is much more than exchanging CAD to USD.

Currency Exchange Rate

Exchange rate is updated every 5 minutes, 24 hours a day, 7 days per week. Each exchange rate comes with 2 expressions, which express the same rate in 2 different ways. Each expression is 4 digits accuracy.

USD CAD

USD CAD exchange is the most important trading currency pair in Canada. The particular currency pair can count up to 50% of transaction volumne for a Canadian currency exchange broker. For some province, the percentage is even higher. Currency Mart as a currency exchange dealer, we always keep USD currency in stock for customers demand.

Service Area

Currency Exchange Yonge and Steeles

Currency Exchange Toronto North York Currency Mart is about 2 blocks south of Yonge and Steeles, right at the interaction of Yonge and Sheppard.

Located at the center of Toronto, Currency Exchange Toronto North York Currency Mart services residents of Toronto and near by cities

Currency Exchange Businesses near Yonge and Steel

  • Rosco Trading

Yonge and Steeles Currency Exchange Customers

Local residents and new immigrants

Yonge and Steeles Currency Exchange Amount

A few thousands

Yonge and Steeles Currency Exchange Popular Currencies

  • United States Dollar
  • Euro Dollar
  • Pound Sterling
  • Japanese Yen

Currency Exchange Yonge and Finch

Currency Exchange Toronto North York Currency Mart is about 1 block south of Yonge and Finch, right at the interaction of Yonge and Sheppard.

Located at the center of Toronto, Currency Exchange Toronto North York Currency Mart services residents of Toronto and near by cities

Currency Exchange Businesses near Yonge and Finch

  • Interchange Financial
  • Everforex

Yonge and Finch Currency Exchange Customers

Local residents and new immigrants

Yonge and Finch Currency Exchange Amount

A few thousands

Yonge and Finch Currency Exchange Popular Currencies

  • United States Dollar
  • Euro Dollar
  • Pound Sterling
  • Japanese Yen

Currency Exchange Yonge and Lawrence

Currency Exchange Toronto North York Currency Mart is about 1 block noth of Yonge and Lawrence, right at the interaction of Yonge and Sheppard.

Located at the center of Toronto, Currency Exchange Toronto North York Currency Mart services residents of Toronto and near by cities

Currency Exchange Businesses near Yonge and Finch

  • None

Yonge and Lawrence Currency Exchange Customers

Local residents

Yonge and Lawrence Currency Exchange Amount

A few thousands up to 100K

Yonge and Lawrence Currency Exchange Popular Currencies

  • United States Dollar
  • Euro Dollar
  • Pound Sterling
  • Japanese Yen

Currency Exchange Yonge and Eglinton

Currency Exchange Toronto North York Currency Mart is about 2 block south of Yonge and Eglinton, right at the interaction of Yonge and Sheppard.

Located at the center of Toronto, Currency Exchange Toronto North York Currency Mart services residents of Toronto and near by cities

Currency Exchange Businesses near Yonge and Finch

  • Ultimate currency exchange

Yonge and Eglinton Currency Exchange Customers

Local residents.

Yonge and Eglinton Currency Exchange Amount

A few thousands

Yonge and Eglinton Currency Exchange Popular Currencies

  • United States Dollar
  • Euro Dollar
  • Pound Sterling
  • Japanese Yen

Navigating Currency Exchange in Toronto: A Comprehensive Guide

Toronto, Canada's bustling metropolis, is not only a melting pot of cultures but also a significant financial hub. With its vibrant economy, the city attracts tourists, business travelers, and international students alike, all of whom face the common task of currency exchange. Understanding the nuances of currency exchange in Toronto can save one time and money, making the financial aspect of your visit or life in Toronto smoother and more manageable.

Currency Exchange in Toronto: An Overview

Currency exchange is an essential service for anyone dealing with money across borders. Whether it's for paying international tuition fees, travel expenses, or business transactions, getting the best exchange rate can significantly impact your finances. Toronto, with its diverse financial services, offers numerous options for currency exchange, from banks to specialized bureaus like Currency Mart. These services cater to a wide range of needs, offering competitive rates, various currencies, and tailored services to ensure customers get the most out of their exchange.

Choosing the Right Currency Exchange Service

When it comes to currency exchange in Toronto, the options are plentiful, but not all are created equal. Factors such as exchange rates, service fees, and transaction speed play crucial roles in selecting the right service. Currency Mart, for instance, stands out by offering over 51 foreign currencies, with large orders ready in just 2 hours, and up to 2% savings compared to banks. This makes it an attractive option for those looking to exchange large amounts of money efficiently and at a favorable rate.

How to Get the Best Exchange Rate

Securing the best exchange rate requires a bit of strategy. Firstly, timing is crucial; exchange rates fluctuate, so monitoring these changes can help you exchange your money when rates are favorable. Additionally, services like Currency Mart offer online rate comparisons, allowing customers to check and compare rates in real-time, ensuring they get the best deal available.

Services Offered by Currency Exchange Outlets

Beyond just exchanging currency, outlets like Currency Mart provide a suite of services to facilitate your financial transactions. Online exchanges, currency converter tools, and even home delivery options are available, catering to the modern consumer's needs. Moreover, with customer service options like live chat and email support, customers can receive assistance and answers to their queries promptly, enhancing the overall service experience.

Locations and Operating Hours

For those in downtown Toronto, Currency Mart's location is conveniently situated to serve your currency exchange needs. With operating hours designed to accommodate busy schedules and knowledgeable staff on hand, accessing currency exchange services has never been easier.

Where Can I Get the Best Exchange Rate in Toronto?

The best exchange rates can usually be found at specialized currency exchange bureaus like Currency Mart. These outlets often offer more competitive rates than banks, especially for large transactions. It's advisable to compare rates online and check for any additional fees or charges that may apply.

Banks vs. Currency Exchange Dealers: Which is Better?

While banks are a traditional choice for many, currency exchange dealers often provide better rates and faster services. Dealers like Currency Mart specialize in currency exchange, offering a wider range of currencies and tailored services that banks may not provide.

How Much Money Should I Exchange Before Departure?

It's wise to exchange a small amount to cover initial expenses such as transportation from the airport and meals. Once settled, you can look for local currency exchange services for better rates on larger amounts.

Practical Tips for Currency Exchange

To ensure you're getting the most out of your currency exchange experience in Toronto, consider these practical tips:

Planning Ahead for Travel Money

Avoid last-minute exchanges at airports or tourist spots, where rates are less favorable. Planning ahead allows you to explore the best options and secure better rates.

Understanding Exchange Rate Fluctuations

Exchange rates can vary significantly, influenced by economic factors, market demand, and geopolitical events. Monitoring these rates can help you choose the best time to exchange money. Tools and services provided by currency exchange outlets like Currency Mart can be invaluable in this regard.

Utilizing Online Resources

Many currency exchange services offer online rate comparisons, currency converter tools, and even options for online exchange and home delivery. Taking advantage of these resources can save you time and money, allowing for a more convenient exchange process.

External Links

Everything You Need to Know about Exchange Currencies in Toronto

Banks, standlone currency exchange dealers,kiosks, ATMs are the most common options for exchanging your currencies. Each of them has pros and cons.

  • Banks

    Many banks in Toronto offer currency exchange services. Limitations are that banks may deal with their clients only, which means you need to have a bank account with them. In addition, banks only deal major currencies, such as US and Euro dollar, but rare currencies, banks don't get hands on it. Finally, banks usually do not pay right the way, take 3 -5 days to get paid is common.

  • Currency Exchange Dealers

    Currency exchange dealers are organizations or individuals who buy and sell different currencies, either physically or through electronic means. They provide a service to people who need to convert one currency into another, such as travelers, business owners, and investors. These dealers usually make money by charging a fee or by taking advantage of the difference in exchange rates. Some common examples of currency exchange dealers include Currency Mart, Calforex, Interchange, Kantor.

  • Currency Exchange Kiosks

    Currency exchange kiosks are commonly found in tourist areas and airports. They typically offer competitive exchange rates but may charge a fee for their services.

  • ATM

    To exchange currency at an ATM, you will typically need a debit or credit card that is linked to an account in your home country. Most ATM machines will allow you to withdraw cash in the local currency, but the exchange rate may not be the best available. It's also possible to incur additional fees for using a foreign ATM. To avoid these fees, you can check with your bank or card issuer to see if they have any partnerships with local banks. Additionally, you can compare exchange rates at different ATMs before making a withdrawal to get the best rate.

  • Retailers

    Some local retailers can accept foreign cash payment, but the rate is not favourable to you.

To compare currency exchange dealers, you can consider the following factors:

  • Exchange Rates

    Compare the exchange rates offered by different dealers to ensure you get the best rate.

  • Fees

    Check the fees charged by each dealer, including any transaction fees or hidden charges.

  • Payment Options

    Check the payment options offered by each dealer, including cash, credit/debit cards, and bank transfers.

  • Customer Service

    Consider the level of customer support offered by each dealer, including phone and email support.

  • Reputation

    Look for reviews from other customers to gauge each dealer's reputation for providing good service and a fair exchange rate.

  • Security

    Ensure that each dealer follows proper security protocols to protect your personal and financial information.

Yes, some dealers offer better exchange rate for small denominations, since small bills are easy to sell. When bring foreign cash to Toronto, try to avoid the largest denomination

Yes, exchange rates can vary depending on the amount being exchanged. For larger transactions, some banks or currency exchange services may offer a better exchange rate as compared to exchanging smaller amounts. Additionally, exchange rates can fluctuate on a daily basis, and the rate for a specific amount can be different at different times.

Yes, most retailers and ATMs can take your foreign debit card. When you spend money, payment processing banks convert your foreign currency to local currency to pay retailers.

No, about 80 currencies are free of trade. The rest currencies are restricted.

There are several reasons why you should avoid using private currency exchanges:

  • Lack of regulation: Private currency exchanges are often not regulated, which means that they may not be operating in a transparent or secure manner.
  • Risk of fraud: Without proper regulation, there is a higher risk of fraud, such as the exchange disappearing with your money or not honoring its promises.
  • Lack of protection: If anything goes wrong, you may not have any legal recourse or protection for your funds.
  • Volatility: Private currency exchanges can be volatile and prices can fluctuate rapidly, leading to potential losses.
  • Complexity: Private currency exchanges can be difficult to use, especially for those who are not familiar with the technology and market conditions.

It is generally recommended to use regulated exchanges, such as those that are registered with financial authorities, for a safer and more secure experience.

To avoid counterfeit bills, follow these guidelines:

  • Familiarize yourself with the security features of genuine bills, such as watermarks, security threads, and color-shifting inks.
  • Feel the texture of the paper, as genuine currency is printed on special paper that has a unique texture.
  • Look for small details, such as the spacing between letters and numbers, as counterfeiters often make mistakes in these areas.
  • Hold the bill up to the light to check for a watermark and security thread.
  • Use a counterfeit detection pen, which will detect the presence of starch in genuine currency and the absence of starch in counterfeit bills.
  • Always be cautious when accepting large denominations, especially if the bill appears worn or damaged.
  • Consider investing in a professional-grade counterfeit detection machine.

It's important to remain vigilant and aware of potential counterfeit bills, but it's also important to not discriminate or refuse a legitimate bill just because of its appearance.

Currency Exchange Toronto - FAQ

Currency exchange is a crucial aspect of international travel and business transactions, and when it comes to finding the best rates and services in Toronto, it's essential to have a comprehensive understanding of the market. This guide aims to provide you with valuable insights and tips to navigate the currency exchange landscape in Toronto effectively. Whether you're a traveler or a local resident, understanding where to find competitive rates, reliable services, and essential considerations will ensure you make the most of your currency exchange transactions. In this article, we will cover the top currency exchange options in Toronto, factors to consider when choosing a provider, tips for getting the best rates, and frequently asked questions.

The Importance of Currency Exchange in Toronto

Toronto, being a vibrant multicultural city and a popular destination for travelers and businesses alike, attracts a significant number of international currency exchange transactions. Whether you're visiting for tourism, studying, or conducting business, exchanging your currency to Canadian dollars is a necessity. Understanding the importance of currency exchange rates, fees, and services can help you save money and make informed decisions.

Top Currency Exchange Options in Toronto

In this section, we will explore the best currency exchange options available in Toronto. This includes traditional banks, independent currency exchange bureaus, and online currency exchange platforms. We will discuss their pros and cons, exchange rate transparency, fees, customer reviews, and locations to help you make an informed choice.

Factors to Consider When Choosing a Currency Exchange Provider

Choosing the right currency exchange provider can significantly impact the value you receive for your money. In this section, we will discuss essential factors to consider, such as exchange rates, fees, convenience, security, customer service, and credibility. By evaluating these factors, you can select a reliable provider that offers competitive rates and exceptional service.

Tips for Getting the Best Currency Exchange Rates in Toronto

Getting the best currency exchange rates in Toronto requires a combination of knowledge and strategic planning. In this section, we will share practical tips and techniques to help you maximize your currency exchange transactions. These include monitoring exchange rates, choosing the right time to exchange, avoiding unnecessary fees, considering alternative options, negotiating rates, and utilizing online platforms for comparison and better deals.

Frequently Asked Questions about Currency Exchange in Toronto

This section will address common questions related to currency exchange in Toronto. It will cover topics such as identification requirements, maximum transaction limits, best practices for carrying and exchanging currency, exchanging large sums, and handling exotic currencies. By addressing these frequently asked questions, we aim to provide clarity and guidance to readers seeking information on currency exchange in Toronto.

Conclusion

Currency exchange is a crucial element of international travel and financial transactions, and finding the best rates and services in Toronto is essential for optimizing your financial transactions. By considering the factors discussed in this guide, you can make informed decisions and secure competitive rates. Remember to evaluate different currency exchange providers, compare rates, and stay updated with market trends to ensure you receive the best value for your money. Whether you're a traveler or a local resident, the insights and tips provided in this guide will empower you to navigate the currency exchange landscape in Toronto with confidence.

Currency exchange is an integral part of international transactions, and finding the best rates and services in Toronto requires careful consideration and research.

Foreign exchange dealers who have retail shops in shopping malls, city centers and border crossings are the best places to exchange foreign currency, but please avoid foreign exchange kiosks at airports, hotels and tourist hotspots.

These dealers target local residents as their customers, offer better than banks’ exchange rate and longer service hours. The most attractive advantage is they have foreign currency in stock and you can get it right the way.

Foreign exchange dealers at airports, hotels, and tourist hotspots target visitors. Since the exchange amounts are usually small, the rate and fees are very high.

All banks in Canada do currency exchange, but please be aware of the following restrictions.

Firstly, most Canadian banks only deal with customers who have bank accounts with them.

Secondly, most Canadian banks do not keep foreign currency in their branches, and take about 3-5 business days to bring foreign currency in and give it to customers.

Finally, usually bank charges are more than credit unions and individual foreign exchange dealers.

Calling each foreign exchange dealers and asking for a quote will find you the best exchange rate.

Firstly, the exchange rate is time sensitive information. The best exchange rate provider of your last deal may not offer the best exchange rate currently.

Secondly, the exchange rate is currency dependent. A foreign exchange dealer offers the best exchange rate for the United States dollars may not have the best exchange rate for the Euro dollars.

Thirdly, the actual exchange rate applied is payment restricted. For example, the exchange rate for electronic payment is much better than cash settlement, due to the cost of fraud, lost or stolen.

Finally, the exchange rate is also pending on inventory level and currency trend. In case of overstock and downtrend, a foreign exchange dealer is more likely to offer a better exchange rate than usual to speed up sales.

Due to all the driving factors above, only calling each foreign exchange dealer and asking for a quote can get you the best exchange.

Figure out a way to find someone who needs the currency you have and has the currency you want and willing to trade a certain amount at the current rate of this moment, is the cheapest way to exchange currency.

For currency exchange under $3000 Canadian, there is no ID requirement for first time customers.

For exchange amount over $3000 Canadian, any government issued ID with a unique identification number is acceptable.

Yes, you can. Banks will convert your foreign currency into the currency of your account base on their retail exchange rate, which usually is really really terrible.

Our rates are not as same as other Toronto currency exchange dealers. Each dealer set up its owner currency exchange rates based on the mid-market rates and adjusted the mark up according to its inventory level and other factors. One thing for sure is since our mark up are lower than banks, the currency exchange rates we offer are better than banks.

Google or their media posts the mid-market exchange rate, which is the average number between a buy in rate and a sell out rate. The mid-market rate is a good reference number for general public to have a brief idea what the current exchange rate right now, but the mid-market rate is not the rate that the financial market is currently trading at. In addition, Google or other media posts a rate which usually is about at least 20 minutes ago. When we trade at Currency Mart, we apply up to second live rates.

If you pay attention to currency exchange rate long enough, you will have a brief idea what is happening now and you may have a sense of prediction what will happen in the next a few months. Oppositely, as a currency exchange dealer, we have no idea what will happen during the same day or even during the same week.

As a currency exchange dealer, we need adjust our exchange rates everyday in order to stay competitive. We adjust our exchange rates based on our inventory level, current trend of the particular currency, competitor's exchange rate. The general rules are described below.

  • If our current inventory level is more than desired, we will lower our rate to speed up the sales. Oppositely, if our inventory is less than ideal, we will rise our rate to slow down the sales.
  • If the current trend for a currency is going up, we need rise our exchange rate, because the replacement cost for the particular currency will be higher. Otherwise, we will reduce our rate because we will lose value anyway if we keep the currency in stock.
  • If we need speed up sales, we need set up our rate lower than competitors'.

Calling around can get the best exchange rate in Toronto. Exchange rates are determined by dealers’ inventory. A dealer with more inventories intends to offer a better exchange rate. The following list is reputable foreign exchange dealers in Toronto.

  • Currency Mart North York 647-812-2876
  • Currency Mart Toronto Downtown 647-812-2286
  • Knightsbridge 416-749-0834
  • Interchange Downtown 1-888-972-7799
  • Interchange North York 1-888-972-7799
  • Ebixcash World Money 416-363-2300
  • NHVN Currency Exchange 416-599-6486
  • College Currency Investments 416-595-0900
  • Calforex Eaton Centre 416-921-4872
  • Calforex Vaughan Mills 416-663-2274
  • Kantor North York 416-855-5770
  • Kantor Toronto West 416-767-7782

A reputable foreign exchange dealer is the best place to exchange currencies in Canada. They offer better than banks exchange rates and also have most foreign currencies in stock. The following list is reputable foreign exchange dealers in Canada.

  • Currency Mart
  • Calforex
  • Continental
  • VBCE
  • Interchange
  • Kantor
  • Ultimate

Study shows the first day of each month is the best day for currency exchange in the month, Money is the best of the week to exchange money, and morning is the best time to exchange currency during the day. Most businesses conduct currency exchange on the first day of the money to pay bills, so foreign exchange dealers offer the best price possible on the first day of each month to attract customers. Most serious buyers shopping around for currency exchange as their first thing to be done for the day, so offering best exchange rate in the morning can bring in customers who exchanging substantial amount.

  • 1st Day of Each Month
  • Monday of Each Week
  • Morning
  • Government issued id
  • With a unique id number
  • With expired date

There are many places that you could exchange foreign currencies, such as: local banks. (because banks usually do not have foreign currencies in stock, so you have to order the currency you need in advance, and of course you need to open a bank account before you could do the exchange), airport kiosks, stores in the tourist areas, and local currency exchange dealers like Currency Mart. Local dealers usually offer the best currency exchange rates. And if you are buying USD, Euro, British pounds or other currencies from Currency Mart, you do not need to open an account in advance.

US Dollars are stronger than Canadian Dollars, one of the reasons is because the United State’s interest rate is higher than Canada’s. And higher rates attract more lenders and foreign capital into the market which made USD stronger than CAD. For live exchange rate, you could visit currencymart.net. You could find both live mid-market rates (also called Interbank Rate) and the exchange rates for cash and noncash payments. Keep in mind that Interbank Rates are usually for reference, not for trading.

Using Canadian Dollar in Canada is a better idea.

  • Most retailers do not take foreign bank cards, so you cannot pay from your America bank cards.
  • Some retailers take your US dollar as Canadian dollar, which means a 1:1 exchange rate. You loss 20-30% of the value of US dollar.

Toronto has the most competitive currency exchange market, almost every major interaction has a currency exchange dealer.

  • WaterFront: Net Exchange, 111 Queens Quay W, Toronto, ON M5J 2T5, +16473431011
  • King & Bay: TD Foreign Exchange Centre, 55 King St W, Toronto, ON M5K 1A2, +14162166868
  • Yonge & Adelaide: Ebixcash World Money, 121 Yonge St, Toronto, ON M5C 1W4, +14163632300
  • York & Adelaide: Currency Mart, 120 Adelaide St W R7, Toronto, ON M5H 1T1, +16478122286
  • Yonge & Queen: Calforex, 220 Yonge St, Toronto, ON M5B 2H1, +14169214872
  • Yonge & Dundas: Interchange Financial, Atrium on Bay, 20 Dundas Street West, Toronto, ON M5G 2C2, +18889727799
  • Yonge & College: 437 Yonge St A, Toronto, ON M5B 1T3, +14165950900
  • Yonge & Sheppard: Currency Mart, 4841 Yonge St Unit 237D, Toronto, ON M2N 5X2, +16478122876
  • Yonge & Finch:, Interchange Financial, 5617 Yonge St, North York, ON M2M 3S9, +14162277799
  • Yonge & Steel: Kantor, 4400 Dufferin St, North York, ON M3H 6A8, +14168555770
  • Chinatown: NHVN, 222 Spadina Ave. #101C, Toronto, ON M5T 3B3, +14165996486
  • Yorkdale Shopping Mall: Continental Currency Exchange, 3401 Dufferin St Unit 32C, North York, ON M6A 2T9, +14167871444
  • Toronto West: Kantor, 2310 Bloor St W, Toronto, ON M6S 1P2, +14167677782

You get the best deal from the following currency exchange dealers

  • WaterFront: Net Exchange, 111 Queens Quay W, Toronto, ON M5J 2T5, +16473431011
  • King & Bay: TD Foreign Exchange Centre, 55 King St W, Toronto, ON M5K 1A2, +14162166868
  • Yonge & Adelaide: Ebixcash World Money, 121 Yonge St, Toronto, ON M5C 1W4, +14163632300
  • York & Adelaide: Currency Mart, 120 Adelaide St W R7, Toronto, ON M5H 1T1, +16478122286
  • Yonge & Queen: Calforex, 220 Yonge St, Toronto, ON M5B 2H1, +14169214872
  • Yonge & Dundas: Interchange Financial, Atrium on Bay, 20 Dundas Street West, Toronto, ON M5G 2C2, +18889727799
  • Yonge & College: 437 Yonge St A, Toronto, ON M5B 1T3, +14165950900
  • Yonge & Sheppard: Currency Mart, 4841 Yonge St Unit 237D, Toronto, ON M2N 5X2, +16478122876
  • Yonge & Finch:, Interchange Financial, 5617 Yonge St, North York, ON M2M 3S9, +14162277799
  • Yonge & Steel: Kantor, 4400 Dufferin St, North York, ON M3H 6A8, +14168555770
  • Chinatown: NHVN, 222 Spadina Ave. #101C, Toronto, ON M5T 3B3, +14165996486
  • Yorkdale Shopping Mall: Continental Currency Exchange, 3401 Dufferin St Unit 32C, North York, ON M6A 2T9, +14167871444
  • Toronto West: Kantor, 2310 Bloor St W, Toronto, ON M6S 1P2, +14167677782

Canadian Banks only deal with customers who have bank accounts with them. The only exception is TD bank. TD bank has a foreign exchange centre divisioin. Customers can buy & sell foreign currency under $3000 Canadian equivalent.

Banks Deal Currency Exchange
NameWith Client CardsWithout Client Cards
RBCYesNo
BMOYesNo
CIBCYesNo
Scotia BankYesNo
National BankYesNo
TDYesYes

Historical Forex News

USD/CAD stands tall near three-month peak, above 1.3800 as traders look to US Q2 GDP

The USD/CAD pair builds on its recent upward trajectory witnessed over the past two weeks or so and continues to gain traction for the seventh successive day on Thursday. This also marks the tenth day of a positive move in the previous eleven and lifts spot prices to the highest level since April 17, around the 1.3820 region during the Asian session.FX Street2024-07-25

USD/CAD moves above 1.3800, maintains position near 14-week highs

USD/CAD continues its winning streak that began on July 17, trading around 1.3820, reaching 14-week highs during the European session on Thursday. The Canadian Dollar (CAD) faced challenges as the Bank of Canada (BoC) lowered interest rates by 25 basis points to 4.5% for the second consecutive meeting on Wednesday, citing progress in reducing inflation.FX Street2024-07-25

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Is Flat Despite Strong GDP Data

The encouraging GDP Growth Rate report did not provide sufficient support to the American currency.FXEmpire2024-07-25

USD/CAD posts fresh eight-month high near 1.3850 after robust US GDP growth

The USD/CAD pair refreshes an eight-month high near 1.3850 in Thursday's New York session. The Loonie asset strengthens as the US Dollar (USD) has bounced back strongly after upbeat United States (US) Q2 Gross Domestic Product (GDP) growth.FX Street2024-07-25

Elliott Wave Analysis: USDCAD Turning Upside from Sideways

Hello traders, welcome to a new blog post. Today, we will discuss USDCAD as the pair is set to break out of a range that has lasted over two years.Action Forex2024-07-25

USD/CAD stays on sidelines near 1.3800 with BoC policy meeting in focus

The USD/CAD pair trades in a tight range near the round-level figure of 1.3800. The Loonie asset consolidates as investors shifts to the sidelines with focus on the Bank of Canada's (BoC) monetary policy meeting scheduled for 13:45 GMT.FX Street2024-07-24

BoC to cut rates again; USD/CAD set for further gains

BoC is widely anticipated to cut its interest rate by 25bps to 4.50% today, the second reduction in a row. This expectation is strongly backed by financial markets, which are pricing in nearly a 93% probability.Action Forex2024-07-24

Pound Canadian Dollar (GBP/CAD) Exchange Rate Weakens, Then Rebounds

At the time of writing, GBP/CAD is trading at C$1.7777, virtually unchanged from opening levels. The Pound (GBP) was subdued at the start of the week, as a lack of domestic data left traders to mull over last week's disappointing retail statistics.ExchangeRates2024-07-24

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Pulls Back As Manufacturing PMI Drops Below 50

The yield of 2-year Treasuries tested multi-month lows, putting additional pressure on the American currency.FXEmpire2024-07-24

USD/CAD posts fresh three-month high near 1.3800 as BoC cuts rates again

The USD/CAD pair jumps to a fresh three-month high near the round-level resistance of 1.3800 in Wednesday's American session. The Loonie asset strengthens as the announcement of Bank of Canada's (BoC) subsequent rate cuts has weighed on the Canadian Dollar (CAD).FX Street2024-07-24

USD/CAD: Initial support sits at 1.3760 – Scotiabank

The Canadian Dollar (CAD) is on the defensive ahead of the Bank of Canada (BoC) policy decision, sliding to its lowest in three months against the US Dollar (USD). Oil has snapped 2%+ higher today but that will not alter CAD dynamics significantly, Scotiabank's chief FX strategist Shaun Osborne notes.FX Street2024-07-24

USD/CAD, CAD/JPY forecast: Canadian dollar analysis - July 24, 2024

The CAD/JPY trend has turned negative following this week's big rally in the yen, while the USD/CAD will be in focus with the release of key US data in the coming days.Forexcom2024-07-24

USD/CAD, CAD/JPY forecast: Canadian dollar analysis - July 24, 2024

The CAD/JPY trend has turned negative following this week's big rally in the yen, while the USD/CAD will be in focus with the release of key US data in the coming days.Forexcom2024-07-24

AUD/CAD struggles as impact of interest rate policies sidestepped

Australian Dollar continues to face significant headwinds, largely due to ongoing worries about the Chinese economy—the most significant trading partner. Despite the possibility of RBA raising interest rates while other global central banks are adopting easing policies, this potential policy divergence is currently providing little support for the Aussie.Action Forex2024-07-23

USD/CAD Price Analysis: Bulls retain control above mid-1.3700s, multi-week high

The USD/CAD pair attracts some buyers for the fifth successive day on Tuesday and trades above mid-1.3700s during the Asian session, closer to a six-week peak touched the previous day. FX Street2024-07-23

USD/CAD forecast ahead of the BoC decision, US PCE data

The USD/CAD exchange rate has risen for five consecutive days as investors focus on the upcoming Bank of Canada (BoC) decision and US Personal Consumption Expenditure (PCE) data. It rose to 1.3765 on Tuesday, its highest point since June 14th.Invezz2024-07-23

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Gains Ground Despite Falling Treasury Yields

The weaker-than-expected Existing Home Sales report did not put pressure on the American currency.FXEmpire2024-07-23

Canadian Dollar Short-term Outlook: USD/CAD Rally Rips to Resistance

The US Dollar is poised to mark a fifth consecutive daily advance against the Canadian Dollar with a breakout of the July opening-range now testing initial resistance hurdles. The focus is on possible price inflection up here with the immediate advance vulnerable while below this pivot zone.Forexcom2024-07-23

USD/CAD moves higher to near 1.3750 with focus on BoC monetary policy

The USD/CAD pair rises to near 1.3750 in Monday's European after recovering its intraday losses. The Loonie asset strengthens as the Canadian Dollar weakens due to a sharp correction in oil prices and uncertainty ahead of the Bank of Canada's (BoC) interest-rate policy, scheduled for Wednesday.FX Street2024-07-22

Weekly Technical Outlook – USDCAD, Gold, EURUSD

The Bank of Canada will announce its monetary policy on Wednesday. This bank lowered interest rates by 25 basis points at its recent meeting, citing falling inflation and slow economic growth.XM2024-07-22

Weekly Technical Outlook – USDCAD, Gold, EURUSD

The Bank of Canada will announce its monetary policy on Wednesday. This bank lowered interest rates by 25 basis points at its recent meeting, citing falling inflation and slow economic growth.XM2024-07-22

Market Analysis: GBP/USD Trims Gains While USD/CAD Rallies

On the hourly chart of GBP/USD at FXOpen, the pair struggled to continue higher above the 1.3050 resistance zone. The British Pound started a downside correction and traded below the 1.3010 support zone against the US Dollar.Action Forex2024-07-22

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Is Flat Amid Lack Of Catalysts

Forex markets are calm as traders wait for PMI reports, which will be released later this week.FXEmpire2024-07-22

DXY, EUR/USD, AUD/USD, USD/CAD, Gold, Silver, Oil Technical Outlook

In this webinar we take an in-depth look at the technical trade levels for the US Dollar (DXY), 10yr Treasury Yields, Euro (EUR/USD), British Pound (GBP/USD), Australian Dollar (AUD/USD), Canadian Dollar (USD/CAD), Japanese Yen (USD/JPY), Gold (XAU/USD), Silver (XAG/USD), Crude Oil (WTI), S&P 500 (SPX500), Nasdaq (NDX) and the Dow Jones (DJI). These are the levels that matter on the technical charts heading into the weekly open.Forexcom2024-07-22

USD/CAD: May potentially extend to retest the 1.39+ area – Scotiabank

The Canadian Dollar (CAD) is a mild underperformer this morning alongside its commodity cousins (AUD and NZD) which are also booking minor losses on the US Dollar (USD) on the session, Scotiabank's FX analyst Shaun Osborne notes.FX Street2024-07-22

Pound Canadian Dollar Week Ahead Forecast: GBP/CAD Peak?

At the time of writing, GBP/CAD is trading at C$1.7732, approximately 0.2% higher than seven days prior. The Pound (GBP) trended broadly sideways on Monday and Tuesday, but spiked last Wednesday as UK inflation exceeded forecasts.ExchangeRates2024-07-22

Technical Analysis – USDCAD advances within trading range

According to technical oscillators, the stochastic oscillator is pointing upward in the overbought region, while the RSI is rising, crossing above the neutral threshold of 50.XM2024-07-19

USD/CAD: A sustained break above 1.3720 to strengthen the USD – Scotiabank

The Canadian Dollar (CAD) has slipped a little in overnight trade, Scotiabank's chief FX strategist Shaun Osborne notes.FX Street2024-07-19

USD/CAD jumps to near 1.3750 as Canadian Retail Sales contracts sharply

The USD/CAD pair climbs to near 1.3750 in Friday's American session. The Loonie asset strengthens as weak Canadian Retail Sales for May add to triggers pointing to subsequent rate cuts by the Bank of Canada (BoC), and the US Dollar (USD) strengthens on expectations that Donald Trump will win the United States (US) presidential elections.FX Street2024-07-19

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Gains Ground As Rebound Continues

The American currency is moving higher ahead of the weekend, supported by rising Treasury yields.FXEmpire2024-07-19

USD/CAD depreciates to near 1.3650 due to dovish sentiment surrounding the Fed

USD/CAD retraces its recent gains from the previous session, trading around 1.3670 during the European session on Thursday. This downside is attributed to growing expectations of the Federal Reserve (Fed) reducing interest rates in September.FX Street2024-07-18

Pound Canadian Dollar (GBP/CAD) Extends Multi-Year Gains

At the time of writing, GBP/CAD is trading at C$1.7806, having climbed by 0.4% in the past 24 hours. The Pound (GBP) trended higher against its peers midweek, propelled upwards by higher-than-expected inflation data which forced markets to reconsider the likelihood of an interest rate cut from the Bank of England in August.ExchangeRates2024-07-18

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Rebounds From Multi-Week Lows

EUR/USD is moving lower as traders react to ECB Interest Rate Decision.FXEmpire2024-07-18

USD/CAD is little changed on the session – Scotiabank

The Canadian Dollar (CAD) is little changed on the session, leaving it as a marginal outperformer alongside the Australian Dollar (AUD) on a day where the US Dollar (USD) is trading a little higher overall, Scotiabank's chief FX strategist Shaun Osborne notes.FX Street2024-07-18

Technical Analysis – Is AUDCAD ready to extend its uptrend?

AUDCAD rebounded today from slightly above the support of 0.9270, marked by the low of July 9 and the inside swing high of June 12. Overall, the pair is printing higher highs and higher lows above all three of the plotted exponential moving averages (EMAs) on the daily chart, which paints a positive medium-term picture.XM2024-07-18

USD/CAD holds ground above 1.3650 as Oil prices decline

USD/CAD retraces its recent losses from the previous session, trading around 1.3680 during the early European hours on Wednesday. Lower crude Oil prices put pressure on the commodity-linked Canadian Dollar (CAD).FX Street2024-07-17

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Retreats As Rate Cut Bets Grow

Traders stay bearish on U.S. dollar as they prepare for the start of the Fed rate cut cycle.FXEmpire2024-07-17

USD/CAD remains subdued below 1.3700 amid weak US Dollar

The USD/CAD pair exhibits a subdued performance below the round-level resistance of 1.3700 in Wednesday's New York session. The Loonie asset remains under pressure as the US Dollar (USD) has fallen on the backfoot.FX Street2024-07-17

USD/CAD: A bearish “shooting star” on the daily chart – Scotiabank

The Canadian Dollar (CAD) is a little firmer this morning but barely so. The CAD is a relative underperformer on a day of broad US Dollar (USD) softness, with the MXN losing ground, amid focus on Trump's support for wide-ranging tariffs in his Bloomberg interview, Scotiabank's Chief FX Strategist Shaun Osborne notes.FX Street2024-07-17

EUR/CAD Price Forecast: Bullish continuation pattern forming

EUR/CAD is rising strongly as diverging interest-rate expectations favor the Euro (EUR) over the Canadian Dollar (CAD). FX Street2024-07-17

USD/CAD: To face a deeper pullback below 1.3580 – Societe Generale

The USD/CAD pair looks poised to inch higher towards descending trend line drawn since April near 1.3755, Societe Generale FX analysts note.FX Street2024-07-16

USD/CAD rises to near 1.3700 due to lower Oil prices

USD/CAD continues its winning streak for the fourth successive session, trading around 1.3690 during the European hours on Tuesday. The commodity-linked Canadian Dollar (CAD) faces challenges due to declining Oil prices.FX Street2024-07-16

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Moves Higher After Retail Sales Report

The pullback in Treasury yields did not put pressure on the American currency.FXEmpire2024-07-16

USD/CAD Steady After Canadian CPI, US Retail Sales

The Canadian dollar is showing limited movement on Tuesday. In the North American session, USD/CAD is trading at 1.3687, up 0.03% on the day at the time of writing.Action Forex2024-07-16

USD/CAD: Firm support is at 1.3595/00 – Scotiabank

Focus for the Canadian Dollar (CAD) this morning falls squarely on inflation. Canada reports June CPI at 8.30ET, Scotiabank's Chief FX Strategist Shaun Osborne.FX Street2024-07-16

USD/CAD Price Analysis: Rising within range as Canadian Dollar weakens

USD/CAD looks to be starting a leg higher within a range that began unfolding in May. FX Street2024-07-16

USD/CAD holds positive ground above 1.3650 as risk aversion boosts the US Dollar

USD/CAD holds positive ground above 1.3650 as risk aversion boosts the US DollarFX Street2024-07-15

USD/CAD Price Analysis: Gives up intraday gains and turns negative as US Dollar retreats

The USD/CAD pair faces severe selling pressure in an attempt to extend recovery above 1.3660 and turns negative in Monday's European session. The Loonie asset weakens as the US Dollar (USD) surrenders its gains, which were driven by improved speculation that Donald Trump will win the United States (US) Presidential elections later this year.FX Street2024-07-15

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Gains Some Ground At The Start Of The Week

The American currency is trying to rebound after the recent pullback.FXEmpire2024-07-15

USD/CAD: Trades little changed on the day – Scotiabank

The Canadian Dollar (CAD) eased in early Asian trade but has recovered to trade little changed on the day. It's a busy week for Canadian data reports, Scotiabank's chief FX strategist Shaun Osborne notes.FX Street2024-07-15

Pound Canadian Dollar Week Ahead Forecast: GBP/CAD Peaks at 41-Month Best

At the time of writing, GBP/CAD is trading at C$1.7691, having climbed by almost 1.4% over the course of the week. Canadian Dollar (CAD) Pressured as US Dollar Plummets The Canadian Dollar fell against several of its peers last week, as US Dollar weakness dragged ‘Loonie' sentiment lower.ExchangeRates2024-07-15

Canadian Dollar Forecast: USD/CAD Rebound Emerges Ahead of Canada CPI

USD/CAD may retrace the decline from the monthly high (1.3755) as it breaks above the range bound price action from last week.Forexcom2024-07-15

USD/CAD falls toward 1.3600 due to higher Oil prices

USD/CAD retraces its gains from the previous session, trading around 1.3620 during the European hours on Friday. The commodity-linked Canadian Dollar (CAD) finds support from the higher crude Oil prices, given the fact Canada is the biggest Oil exporter to the United States (US).FX Street2024-07-12

Technical Analysis – USDCAD trades sideways as 200-SMA provides support

USDCAD had been hovering around its 50-day simple moving average (SMA) for the past two months, appearing incapable of clearing this hurdle. This repeated inability triggered a decisive break below the 50-day SMA on July 3, with the pair trading undecided since then, supported by the 200-day SMA.XM2024-07-12

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Retreats As Traders React To PPI Data

Higher-than-expected PPI and Core PPI reports did not provide any support to the American currency.FXEmpire2024-07-12

USD/CAD remains sideways above 1.3600 even though US PPI rise strongly

The USD/CAD pair doesn't move much from its current range above 1.3600 in Friday's American session even though the United States (US) Bureau of Labor Statistics (BLS) has reported that the producer inflation rose at a faster-than-expected pace in June.FX Street2024-07-12

USD/CAD Price Outlook: 200-day MA Holds Ahead of US CPI Release

USD/CAD has been confined to a 50-pip range since July 4, reflecting the historical price action and recent consolidation of the US Dollar Index.Action Forex2024-07-11

USD/CAD Price Analysis: Trades in tight range above 1.3600 ahead of US Inflation

The USD/CAD pair consolidates in a tight range above the round-level support of 1.3600 in Thursday's European session. The Loonie asset turns sideways as investors await the United States (US) consumer inflation data for June, which will be published at 12:30 GMT.FX Street2024-07-11

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Retreats As Inflation Rate Drops To 3%

Forex traders prepare for rate cuts as U.S. inflation missed analyst estimates.FXEmpire2024-07-11