Currency Exchange Winnipeg


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47,000+ Customers

200,000+ Transactions

300 Million+ Exchanged



Since 2012

License: M11432814


Branch Information


 

Monday - Friday: 9:00 am - 4:00 pm

 

Saturday & Sunday: Closed

 

downtown@currencymart.net

Today's Forex News

USD/CAD inches higher to near 1.3540, focus on Canadian CPI, Fed policy

USD/CAD kicks off the week with its third consecutive day of gains on Monday, inching higher to near 1.3540 during the Asian trading session. The US Dollar (USD) could be bolstered by expectations that the Federal Reserve (Fed) will uphold its narrative of maintaining higher interest rates to combat inflation, which could further mitigate significant downside for the USD/CAD pair.FX Street2024-03-18

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Tests New Highs As NAHB Housing Market Index Beats Expectations

Treasury yields are moving higher ahead of the Fed Interest Rate Decision, which is bullish for the American currency.FXEmpire2024-03-18

USD/CAD: The domestic calendar holds some risk for the Loonie – Scotiabank

USD/CAD trades little changed. Economists at Scotiabank analyze the pair's outlook.FX Street2024-03-18

USD/CAD Price Analysis: Stabilizes above 1.3500 ahead of Canada Inflation, Fed policy

The USD/CAD pair seems comfortable above the psychological resistance of 1.3500 in the European session on Monday. The Loonie asset clings to gains amid uncertainty ahead of the interest rate decision by the Federal Reserve (Fed), which will be announced on Wednesday.FX Street2024-03-18

Additional News:


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)

Walking & Driving Directions


The Tim Hortons at the corner of Fort St. and Graham Ave. has a hallway which is connect to the lobby of the building, then take the stairs to the second floor. We are 2 stores to your left.


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.

Canadian Currency Exchange Market

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.

Winnipeg Currency Exchange Market

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

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 volume 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.

Currency Exchange Winnipeg - FAQ

Yes, all branches of local banks and credit unions offer currency exchange services, however there are a few things to pay attention to.

  • Banks do not deal with all currencies, common currencies only such as US dollar or Euro dollar. In general, banks only deal with about 20 - 30 currencies. Only RBC in Canada deals a little bit more than other banks.
  • Usually, banks do not keep foreign currency in stock. Customers need to place an order for it and pick it up 3 - 5 days later.
  • If customers sell foreign currency cash to their bank branches, not all branches pay for the foreign currencies right the way. Some branches send the foreign cash to their processing center to exam and then deposit the payment to your bank account a few days later.
  • Most banks only purchase or sell foreign currencies to clients with a bank account with them.

All banks and credit unions offer currency exchange service, but the drawbacks are usually bank branches do not keep foreign currency cash in stock and also the exchange rate branches offer less favorable for customers.

Beside banks and credit unions, there are a few non financial institution currency exchange dealers in Winnipeg. Most their locations are in Winnipeg downtown or the international airport, except Currency Mart has a branch in south Winnipeg, St. Vital Shopping Centre.

These non financial institution foreign exchange dealers try to distinguish their services to others so they do not directly complete with each other.

  • Currency exchange dealers in airport target customers who need convenient services. That is why usually airport locations open much longer hours, such as 12 hours per day. Premium locations and longer hours determined that the operation cost for airport locations are much higher than regulars locations, so the currency exchange rates offered by airport locations are terrible for customers. Typically, customers only exchange small amounts for immediately expenses, such as $30 dollar for a taxi.
  • Dealers in Winnipeg downtown aim corporate or large amount individual customers. A typical transaction amount is $10,000 for start. Usually this type of foreign exchange dealers do not handle physical cash. All transactions are done by wire transfer or electrical fund transfer, a payment processing system used by all Canadian banks. The exchange rate offered by this type of dealers are much better than banks, but the drawback is each transaction takes 1 - 2 business days to complete. The service is ideal for large amount customers who plans a head of time.
  • Farmers are the main customers of all currency exchange dealers in Winnipeg. Farmers trade huge amount of currency in spring to purchase supply and in fall after selling their harvest.

  • Business owners such as auto dealers, trading companies and restaurants, as well as hotels. These type of businesses either accumulate huge amount of foreicn currency during daily operation or need to make large purchase and pay in foreign currency.

  • New immigrants brings in their savings of their whole life to Canada. Also, most new immigrants need to make a large purchase during their first 2 years, a house. That is why the currency exchange demand for new immigrants is huge

  • International students spends their 5 years of best life in Winnipeg. They bring in about $30,000 a year per person to Winnipeg.

  • Canadians who are planning to purchase a property in overseas for their retire life.

  • Travelers make small amount exchange, but the huge number of visitors makes the businesses still attractive for currency exchange dealers.

All banks and credit unions offer currency exchange services, but these branches do not keep Euro dollar in stock. Customers need to order with them and pick it up 3 - 5 days later.

Both Currency Mart Winnipeg Downtown and Winnipeg St. Vital keep Euro cash in stock all the time for the convenience of customer.

From the exchange rate point of view, HSBC Canada offers the best currency exchange rate amount all banks in Canada.

From the exchange rate point of view, in general, the exchange rate in the morning is better than afternoon, beginning of each week is better than near the end of the week.

Please try to have your foreign currency exchanged about 1 week before your departure date.

If the leftover foreign currency is bill, you can still take the bills to local banks or currency exchange dealers.

Most likely, no one takes care leftover foreign coins.

Please try to have your foreign currency exchanged about 1 week before your departure date.

We suggest you to exchange currency a few days before you departure. The reason is you have time to compare and shop around. In addition, Currency Mart can purchase back 30% of your purchase back in 30 days at the same exchange rate printed on the receipt.

Currency exchange dealers try to carry as many currencies as possible, but the supply and the fluctuating currency exchange rates limit our capability. As a currency exchang dealer, United State dollar and Euro dollar are mush have currencies. In addition, some currencies, such as Mexican peso and currencies for other sunshine destination are must have for winter seaosn. To sum up, we try to carry all European country currencies all year around and travel destination country currencies in winter. Please check our currency list for details.

On average, our trade amount is around $700 Canadian dollar per transaction. This amount can be doubled if you travel to US or other European countries and can be reduced to half if you travel to developing countries.

We do not accept foreign coins.

As for Canadian coins, we only accept the following amounts for the following denominations:

  • Fifty dollars ($50), or the equivalent of one roll of two dollar ($2.00) coins
  • Twenty-five dollars ($25), or the equivalent of one roll of one dollar ($1.00) coins
  • Ten dollars ($10), or the equivalent of one roll of twenty-five cent ($0.25) coins
  • Five dollars ($5), or the equivalent of one roll of ten cent ($0.10) coins
  • Two dollars ($2.00), or the equivalent of one roll of five cent ($0.05) coins

We reserve the right to use our discretion for accepting Canadian coin, as outlined by the Currency Act under “Legal Tender: section 8, subsection (2)”

Historical Forex News

Technical Analysis – Is USDCAD poised for another bullish round?

USDCAD made a strong comeback on Thursday, surpassing its simple moving averages (SMAs) and breaching the 1.3500 level after encountering fresh buying around the familiar long-term line from November 2022.XM2024-03-15

Daily Forex News and Watchlist: USD/CAD

Uncle Sam is about to release a preliminary gauge of consumer sentiment! After yesterday's retail sales miss, how could the UoM index influence dollar pairs today?Babypips2024-03-15

USD/CAD rises to near 1.3540, focus shifts to the Michigan Consumer Sentiment Index

USD/CAD gains ground for the second successive session on Friday. Wednesday's hotter-than-expected US Consumer Inflation data has reduced the likelihood of the Federal Reserve (Fed) cutting interest rates soon.FX Street2024-03-15

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Moves Higher Ahead Of The Weekend

Rising Treasury yields provide additional support to the American currency.FXEmpire2024-03-15

USD/CAD Price Analysis: Exhibits strength above 1.3500 as focus shifts to Fed policy

The USD/CAD pair holds strength above the psychological support of 1.3500 in Friday's European session. The Loonie asset turns sideways after a sharp recovery, prompted by diminished market expectations for the Federal Reserve (Fed) reducing interest rates in the June policy meeting.FX Street2024-03-15

USD/CAD moves sideways amid a stable US Dollar, floats around 1.3490

USD/CAD could maintain its winning streak for the fourth consecutive session, with the pair trading higher around 1.3490 during the early European hours on Wednesday.FX Street2024-03-13

USD/CAD Price Analysis: Drops to near 1.3470 followed by the major support

USD/CAD extends its losses for the second session, edging lower to near 1.3470 during the European session on Tuesday. The cautious sentiment prevails ahead of the release of the Consumer Price Index (CPI) data from the United States (US).FX Street2024-03-12

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Moves Higher As Inflation Rate Exceeds Expectations

Forex traders bet on a more hawkish Fed after the release of disappointing inflation reports.FXEmpire2024-03-12

USD/CAD: Technical momentum is mildly bearish – Scotiabank

USD/CAD edges slightly lower. Economists at Scotiabank analyze the pair's outlook.FX Street2024-03-12

USD/CAD holds steady below 1.3500 amid weaker Oil prices, subdued USD demand

The USD/CAD pair struggles to capitalize on Friday's goodish rebound from the 1.3420 region, or a nearly one-month low and oscillates in range on the first day of a new week. The pair trades around the 1.3480 area, nearly unchanged for the day during the Asian session, and is influenced by a combination of diverging forces.FX Street2024-03-11

USD/CAD Price Analysis: Faces pressure around 1.3500 on subdued US Dollar

The USD/CAD pair faces pressure while attempting to extend recovery above the psychological resistance of 1.3500 in the European session on Monday. The Loonie asset is expected to resume its downside journey as the broader appeal for the US Dollar remains weak due to firm market expectations for the Federal Reserve (Fed) reducing interest rates in the June policy meeting.FX Street2024-03-11

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Moves Higher As Traders Prepare For CPI Data

The American currency gains some ground as traders wait for tomorrow's inflation reports.FXEmpire2024-03-11

USD/CAD may nudge a little higher in the short run – Scotiabank

USD/CAD has steadied below 1.3500. Economists at Scotiabank analyze the pair's outlook.FX Street2024-03-11

USD/CAD Price Analysis: Breaking lower ahead of NFPs

The USD/CAD is down over a tenth of a percent on Friday as traders await the arrival of key employment metrics from both the US and Canada at 13:30 GMT. FX Street2024-03-08

USD/CAD: Loonie to shrug off employment data barring a big surprise in either direction – ING

Canada releases jobs figures for February today. Economists at ING analyze Loonie's outlook ahead of the employment report.FX Street2024-03-08

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – US Jobs Data Spur DXY Decline, Hint at Fed Rate Cut

Mixed US job report triggers DXY drop, with job growth and rising unemployment hinting at a potential Fed rate cut.FXEmpire2024-03-08

Technical Analysis – USDCAD loses 1% after pullback from 1.3600

USDCAD is plunging after the pullback near the 1.3600 psychological level, remaining within the medium-term upward sloping channel. However, this dive drove the market beneath the 200-day simple moving average (SMA) and the technical oscillators are also losing momentum, indicating more losses.XM2024-03-08

USD/CAD Price Analysis: Threatening to break below key trendline

The USD/CAD is down a tenth of a percent on Thursday in line with widespread US Dollar (USD) weakness, as traders digest Federal Reserve (Fed) Chairman Jerome Powell's comments to US lawmakers on the Wednesday, during the first day of his testimony to Congress. FX Street2024-03-07

USD/CAD: Upside potential for the Loonie in the coming months – Commerzbank

The Loonie benefited significantly from Wednesday's BoC decision with USD/CAD nosediving a full figure lower to 1.3500. Economists at Commerzbank analyze the pair's outlook.FX Street2024-03-07

USD/CAD Analysis: Canadian Dollar Strengthens after Bank of Canada Decision

The Bank of Canada has decided to keep interest rates at 5.0% for the fifth time in a row, it announced yesterday, as it continues to look for clearer signs that inflation is moving closer to the bank's 2% target before considering rate cuts.Action Forex2024-03-07

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – DXY Drops, Yen Soars as ECB and BOJ Stir Market

DXY falls against euro after ECB keeps rates steady; Yen jumps amid BOJ rate hike speculation, marking a significant shift in currency markets.FXEmpire2024-03-07

USD/CAD to stay rangebound in the short term before a USD decline emerges – ING

USD/CAD has declined below the 1.3500 level. Economists at ING anlayze the pair's outlook.FX Street2024-03-07

USD/CAD Price Analysis: Remains capped below 1.3500, eyes on BoC rate decision

USD/CAD Price Analysis: Remains capped below 1.3500, eyes on BoC rate decisionFX Street2024-03-06

USD/CAD likely to continue range-trading around the 1.3500 handle – Rabobank

The 1.3500 magnet theory continues to dominate USD/CAD forecast and trading views, economists at Rabobank say.FX Street2024-03-06

USD/CAD: Downside risks for Loonie as the BoC may introduce some reference to monetary easing – ING

The Bank of Canada (BoC) announces monetary policy today, without releasing new economic projections. Economists at ING analyze USD/CAD outlook ahead of the meeting.FX Street2024-03-06

Daily Forex News and Watchlist: USD/CAD

The BOC is gearing up to make its monetary policy decision in a few! What might this mean for USD/CAD and its triangle pattern?Babypips2024-03-06

BoC Preview: Three scenarios and their implications for USD/CAD – TDS

Economists at TD Securities discuss the Bank of Canada (BoC) Interest Rate Decision and its implications for the USD/CAD pair.FX Street2024-03-06

USD/CAD: Short-term bull trend remains intact – Scotiabank

USD/CAD continues to struggle to surpass the 1.3600 level. Economists at Scotiabank analyze the pair's outlook.FX Street2024-03-06

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – DXY Slides Following Powell's Cautious Inflation Remarks

Dollar Index drops after Fed Chair Powell signals uncertainty about inflation, hinting at potential rate cuts later this year.FXEmpire2024-03-06

US Dollar Falls, Fed's Resolve in Question; USD/JPY, USD/CAD Setups Before NFP

The U.S. dollar weakens amidst falling U.S. Treasury yields, as markets raise doubts about the Fed's commitment to wait longer before cutting rates. Focus now shifts to the upcoming U.S. jobs report.DailyFX2024-03-06

USD/CAD Price Analysis: Tests psychological barrier of 1.3600 ahead of ISM Services PMI

USD/CAD extends its winning streak for the second session on Tuesday amid a stable US Dollar (USD), which could be attributed to the risk aversion ahead of the key economic data from the United States (US). The USD/CAD pair inches higher to near 1.3590 during the Asian trading hours.FX Street2024-03-05

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – Investors Await Clarity from Powell

USD faces pivotal moment near 200-4H moving average. Investors await Powell's clarity amidst Dollar Index stall; caution prevails in G10 FX market.FXEmpire2024-03-05

USD/CAD seen at 1.3000 by year-end – MUFG

The Canadian Dollar (CAD) weakened in February and was the third worst performing G10 currency. Economists at MUFG Bank analyze Loonie's outlook.FX Street2024-03-05

USD/CAD hovers near 1.3600 ahead of BoC interest rate decision, Fed Powell's testimony

The USD/CAD pair trades close to three-month high near 1.3600 in the late European session on Tuesday. The Loonie asset holds strength as the market mood is cautious ahead of Federal Reserve Chair Jerome Powell's testimony before Congress on Wednesday and a packed United States economic calendar this week.FX Street2024-03-05

USD/CAD: A push to new short-term highs will renew underlying strength – Scotiabank

USD/CAD moves back to the 1.3600 area. Economists at Scotiabank analyze the pair's outlook.FX Street2024-03-05

USD/CAD: Loonie to weaken further before a turnaround in H2 – CIBC

The Loonie has not moved much in the last month, with USD/CAD bouncing around 1.3500. Economists at CIBC Capital Markets analyze the pair's outlook.FX Street2024-03-05

USD/CAD trades higher on improved US yields, moves up to near 1.3570

USD/CAD improves higher to near 1.3570 during the European session on Monday amid a stable US Dollar (USD) with improved US Treasury yields. Atlanta Fed President Raphael W.FX Street2024-03-04

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – Exhibiting Caution Ahead of Powell Testimony

DXY sees minor fluctuations amid global events, with Fed's Powell testimony and job data key to interest rate expectations.FXEmpire2024-03-04

USD/CAD: Potential for lower levels in the coming months – Commerzbank

USD/CAD has been trading relatively stable around 1.3500 for several weeks. Economists at Commerzbank analyze the pair's outlook.FX Street2024-03-04

USD/CAD to retest 1.3440/1.3450 on a move below support at 1.3540/1.3550 – Scotiabank

USD/CAD is little changed on the session so far. Economists at Scotiabank analyze the pair's outlook.FX Street2024-03-04

Weekly Technical Outlook – USDJPY, EURUSD, USDCAD

USDJPY remained flat and supported around its 20-day simple moving average (SMA) even though Friday's ISM manufacturing PMI for February fell short of expectations by a large margin, squeezing Treasury yields lower.XM2024-03-04