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Australian Dollar to Canadian Dollar Exchange Rate
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Historical Rate chart of AUD and CAD
|Bank notes:||$5, $10, $20, $50, $100|
|Coins:||5c, 10c, 20c, 50c, $1, $2|
|Currency Symbol:||$, Can$, C$, CAD|
|Sub unit:||cent (English) and sou (colloquial) (French)|
|Bank notes:||$5, $10, $20, $50, $100|
|Coins:||5¢, 10¢, 25¢, 50¢, $1, $2|
The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.
If you shop around for the best AUD/CAD exchange rate, you can save big when you send an international money transfer to Canada.
If you need to send money to Canada, whether it’s for business or personal reasons, finding the best exchange rate is a must. By locking in a competitive exchange rate for your transfer, you can access excellent value for money and minimise the overall cost of your transaction.
But what factors affect the AUD/CAD exchange rate, when’s the best time to transfer and how can you find the highest rate? Read on to find out.
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|1 USD =||1.0000||1.4446 Inverse: 0.6922||1.3166 Inverse: 0.7596||0.8955 Inverse: 1.1167||6.9907 Inverse: 0.1430||0.7447 Inverse: 1.3429||70.7225 Inverse: 0.0141||19.0478 Inverse: 0.0525||50.6455 Inverse: 0.0197|
|1 AUD =||0.6922 Inverse: 1.4446||1.0000||0.9114 Inverse: 1.0973||0.6199 Inverse: 1.6132||4.8392 Inverse: 0.2066||0.5155 Inverse: 1.9400||48.9563 Inverse: 0.0204||13.1855 Inverse: 0.0758||35.0583 Inverse: 0.0285|
|1 EUR =||1.1167 Inverse: 0.8955||1.6132 Inverse: 0.6199||1.4702 Inverse: 0.6802||1.0000||7.8066 Inverse: 0.1281||0.8316 Inverse: 1.2025||78.9767 Inverse: 0.0127||21.2709 Inverse: 0.0470||56.5565 Inverse: 0.0177|
|1 GBP =||1.3429 Inverse: 0.7447||1.9400 Inverse: 0.5155||1.7680 Inverse: 0.5656||1.2025 Inverse: 0.8316||9.3878 Inverse: 0.1065||1.0000||94.9727 Inverse: 0.0105||25.5792 Inverse: 0.0391||68.0115 Inverse: 0.0147|
AUD/CAD: How to get value for money
If you need to send money to Canada from Australia, there are two main factors to consider to ensure that you find the best exchange rate for your transfer:
- Choosing the right time. You need to send your transfer when the AUD/CAD exchange rate is at its highest – in other words, when the AUD reaches a high value relative to the CAD.
- Choosing the right transfer provider. Exchange rates differ from one international transfer company to the next, so you need to shop around for the company that offers the best AUD/CAD exchange rate.
Starting with the first of the two points above, if you want to know the best time to send money to Canada, it’s important to have a basic understanding of the history of these two major global currencies.
Australian Dollar to the Canadian Dollar for the last 10 years
|Dec 2009||Dec 2010||Dec 2011||Dec 2012||Dec 2013||Dec 2014||Dec 2015||Dec 2016||Dec 2017||Dec 2018|
|1 AUD =||0.9637 Inverse: 1.0377||0.9937 Inverse: 1.0063||1.0341 Inverse: 0.9670||1.0373 Inverse: 0.9641||0.9579 Inverse: 1.0440||0.9518 Inverse: 1.0506||0.9860 Inverse: 1.0142||0.9822 Inverse: 1.0181||0.9655 Inverse: 1.0357||0.9635 Inverse: 1.0379|
Australian Dollar to the Canadian Dollar for the last 10 months
|Feb 11||Mar 14||Apr 14||May 15||Jun 15||Jul 16||Aug 16||Sep 16||Oct 17||Nov 17|
|1 AUD =||0.9396 Inverse: 1.0643||0.9418 Inverse: 1.0618||0.9561 Inverse: 1.0459||0.9310 Inverse: 1.0741||0.9228 Inverse: 1.0837||0.9181 Inverse: 1.0892||0.9001 Inverse: 1.1110||0.9086 Inverse: 1.1006||0.8965 Inverse: 1.1154||0.9012 Inverse: 1.1096|
Australian Dollar to the Canadian Dollar for the last 10 days
|Dec 03||Dec 04||Dec 05||Dec 06||Dec 07||Dec 08||Dec 09||Dec 10||Dec 11||Dec 12|
|1 AUD =||0.9106 Inverse: 1.0982||0.9036 Inverse: 1.1066||0.9003 Inverse: 1.1107||0.9067 Inverse: 1.1028||0.9067 Inverse: 1.1028||0.9058 Inverse: 1.1040||0.9037 Inverse: 1.1066||0.9014 Inverse: 1.1093||0.9051 Inverse: 1.1048||0.9111 Inverse: 1.0976|
Australian dollar to Canadian dollar exchange rate history
Australia’s official currency, the Australian dollar (AUD) replaced the pound in 1966. Originally a fixed currency pegged to the value of the British pound (GBP), the AUD had all foreign exchange controls removed and became a free-floating currency by the end of 1983.
Meanwhile, the Canadian dollar (CAD) became Canada’s uniform currency in 1871 and was based on the gold standard. The value of the CAD was then fixed to the US dollar (USD) for a period during the 20th century but eventually became a free-floating currency.
Both the AUD and CAD are heavily affected by global commodities markets, with each country’s economy reliant on the export of resources for much of their strength. Canada also shares close economic ties with the United States and the heavy trade between the two countries means the value of the CAD is also influenced by the value of the USD.
During 2007–08, as economies around the world felt the effects of the credit crisis, Canada’s relatively strong economic performance saw the CAD reach historic highs against the USD and other major currencies. At one point in October 2008, 1 AUD dropped to just 0.75 CAD.
However, in more recent years, stable economic performance in both Australia and Canada has seen the value of the two currencies remain relatively stable when compared to one another. In the five years to May 2016, 1 AUD has traded at between 0.91 and 1.06 CAD.
The table below shows the value of the AUD relative to the CAD in the past 10 years.
|January 2007||January 2012||January 2017|
|1 AUD =||0.918670 CAD||1.042798 CAD||0.968110 CAD|
When can I find the best AUD/CAD exchange rate?
Exchange rates fluctuate all the time and not just over a period of years – you might be surprised to see just how dramatically an exchange rate can vary in a timeframe as little as 24 hours. For evidence of this, visit a currency website like xe.com and take a look back at charts that track the historical performance of the AUD/CAD exchange rate.
As an example of just how much rates fluctuate, let’s consider the case of Jim, who wanted to send AUD$5,000 to his sister in Canada in the year leading up to 25/05/2017. Had Jim sent his transfer in May 2016, when 1 AUD was purchasing just 0.94 CAD, he would not have received great value for money.
However, had he waited three months and sent the transfer in August when the two currencies reached parity, Jim’s AUD$5,000 would have purchased a lot more Canadian dollars. And had he sent the money in October 2016 when 1 AUD = 1.03 CAD, he could have sent CAD$450 more to his sister than if he’d sent the money in May – but the transaction would cost the exact same amount in AUD.
|May 2016||August 2016||October 2016|
|Transfer amount (in AUD)||$5,000||$5,000||$5,000|
|Exchange rate||1 AUD = 0.94 CAD||1 AUD = 1.00 CAD||1 AUD = 1.03 CAD|
|Amount received (in CAD)||$4,700||$5,000||$5,150|
Market rate for common transfer amounts AUD to CAD
|Australian Dollars (AUD)||Canadian Dollar (CAD)|
How do I know when to transfer AUD to CAD?
The best time to send money to Canada is when the AUD/CAD exchange rate is at its highest. In other words, you want to send your transfer when your Aussie dollars buy you the maximum possible amount of Canadian dollars.
Of course, predicting what will happen to an exchange rate in the weeks and months to come is far from easy. Interest rates, inflation, economic news, political developments and several other factors can all have an effect on an exchange rate, so accurately forecasting the direction in which the rate will head is a difficult process.
However, you can take some simple steps to educate yourself about what may lie in store for the AUD/CAD exchange rate. Keep up to date with important developments in Australia and Canada, including everything from interest rate changes and inflation figures to the results of political elections, and tune into financial news reports whenever you get the chance. In addition, by looking back at the past performance of the AUD/CAD rate, you’ll be able to form a clearer idea of the true value of each currency relative to the other and some of the factors that could push the rate higher or lower.
So, when is the best time to send AUD to CAD? Take a look at the chart below, taken from xe.com on 25/05/2017, which tracks the performance of the AUD/CAD exchange rate in the year leading up to that date. The graph shows that the best times to send money to Canada during that 12-month period were:
- In November 2016 when 1 AUD = 1.032 CAD
- In March 2017 when 1 AUD = 1.031 CAD
- In May 2017 when 1 AUD = 1.034 CAD
On the flipside, the worst time to send a transfer was in late May 2016 when 1 AUD dropped to a low of 0.936 CAD.
How to choose the best transfer provider
Once you’ve found the best time to send money to Canada, you also need to find the transfer company that offers the highest exchange rate. There are three options to consider when sending an international money transfer:
- Banks. Bank wire transfers may be quick and convenient to set up, especially if you already have an account, but banks offer low exchange rates that are well below the mid-market rate.
- Cash pickup transfer providers. Cash pickup transfer companies, such as Western Union and MoneyGram, offer the convenience of being able to transfer funds to Canada in as little as 10 minutes. However, you will need to keep an eye out for high transfer fees that may apply.
- Online money transfer providers. Specialist online transfer companies, such as CurrencyFair and WorldFirst, are usually a reliable choice when sending money overseas. They tend to offer much higher exchange rates and charge lower fees than banks and cash pickup companies.
bank vs money transfer provider vs cash pickup provider
Julie’s Australian business needs to buy CAD$5,000 worth of office equipment from a supplier based in Canada. In the past, Julie has simply sent all her international transfers through her business’s Big Four bank account, but she’s recently discovered that their poor exchange rates are causing her to lose a significant amount of money.
She decides to see if a cash pickup transfer provider or an online transfer provider might offer better value for money. As you can see in the table below, while the cash pickup company offers much quicker transfers, it actually costs more than if she sends the funds through her bank.
However, if Julie chooses the online transfer provider, she can save a massive AUD$267.78 on the cost of her transaction but still send the exact same amount of CAD to the supplier. This is a perfect example of just how important it is to hunt around for the best exchange rate before you send funds overseas.
|Bank||Cash pickup transfer provider||Online transfer provider|
|Exchange rate||1 AUD = 0.9536 CAD||1 AUD = 0.957407||1 AUD = 1.0013 CAD|
|Processing time||2–5 days||10 minutes||2 days|
|AUD needed to send CAD$5,000||$5,265.29||$5,402.44||$4,997.51|
|Cost in AUD compared to bank (including fee)||-||$137.15 more expensive||$267.78 cheaper|
Other tips to help you find the best AUD/CAD exchange rate
You should also keep the following tips in mind when searching for the best available AUD/CAD exchange rate:
- Track the market. Monitor financial news reports for information on the current mid-market exchange rate. While you will never be able to access the same rate for an international money transfer, it will give you a good idea whether the rate a transfer provider quotes you represents good value for money.
- Compare quotes. Don’t just settle for the first transfer provider you come across; obtain and compare quotes from several companies to see which one comes out on top. Also, make sure the rate you are quoted is the customer rate, not the mid-market rate sometimes used as a guide.
- Use forward contracts and limit orders. Forward contracts let you lock in an exchange rate now for a future transaction and can be used as a safeguard against a falling exchange rate. Meanwhile, limit orders let you choose the exchange rate you want and then let the transfer provider automatically complete the transaction when that rate becomes available.
- Send larger transfers. Because most providers charge fees for each transaction, send one larger transfer rather than several smaller transfers. In addition, keep an eye out for companies that don’t charge any fees for large transfer amounts.
If you’re willing to shop around for the best exchange rate and make the most of the flexible transfer options available, you could save hundreds or even thousands of dollars when sending money to Canada.
Exchange rates from AUD to other currencies
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