US Dollar to Canadian Dollar exchange rate history 1971 to 2026: oil, US demand and the loonie
One US Dollar bought 1.0099 CAD in 1971 and 1.3879 CAD in 2026. Oil, US demand and the loonie. The series covers 56 years of annual data.
- 2026 avg
- 1.3879
- year to date
- Highest avg
- 1.5704
- 2002
- Lowest avg
- 0.9780
- 1974
- Traded range
- 0.9168 to 1.6128
- low 2007, high 2002
Source: Federal Reserve H.10 (DEXCAUS). Latest daily observation 2026-10-30.
Annual averages of daily observations.
USD/CAD in four numbers
- Change since 1971
- +38.4%
- 55 complete years
- Change over 10 years
- +9.2%
- 2015 to 2025
- Average annual change
- +0.8%
- standard deviation 7.4 points
- Largest drawdown
- 38.0%
- 2001 to 2007
USD/CAD annual average, 1971 to 2026
Annual average with the full trading range for each year. average high–low range
Source: Federal Reserve H.10 (DEXCAUS). Figures are annual averages of daily observations.
Five largest USD/CAD moves
The largest absolute year-end changes in the published series, using complete calendar years only.
- 2008 +23.9% 0.9881 to 1.2240
Year-end rate moved from 0.9881 to 1.2240, a change of 23.9%.
- 2015 +19.3% 1.1601 to 1.3839
Year-end rate moved from 1.1601 to 1.3839, a change of 19.3%.
- 2003 -18.2% 1.5800 to 1.2923
Year-end rate moved from 1.5800 to 1.2923, a change of 18.2%.
- 2007 -15.2% 1.1652 to 0.9881
Year-end rate moved from 1.1652 to 0.9881, a change of 15.2%.
- 2009 -14.5% 1.2240 to 1.0461
Year-end rate moved from 1.2240 to 1.0461, a change of 14.5%.
USD to CAD exchange rate by year
Every year since 1971: annual average, the year high and low, the year-end rate, and the change on the previous year.
| Year | Average | High | Low | Year end | Change |
|---|---|---|---|---|---|
| 1971 | 1.0099 | 1.0248 | 0.9933 | 1.0024 | n/a |
| 1972 | 0.9907 | 1.0093 | 0.9744 | 0.9956 | -0.7% |
| 1973 | 1.0002 | 1.0110 | 0.9887 | 0.9960 | +0.0% |
| 1974 | 0.9780 | 0.9956 | 0.9577 | 0.9914 | -0.5% |
| 1975 | 1.0175 | 1.0400 | 0.9911 | 1.0168 | +2.6% |
| 1976 | 0.9863 | 1.0354 | 0.9628 | 1.0094 | -0.7% |
| 1977 | 1.0633 | 1.1136 | 1.0015 | 1.0946 | +8.4% |
| 1978 | 1.1405 | 1.1899 | 1.0918 | 1.1867 | +8.4% |
| 1979 | 1.1713 | 1.2010 | 1.1401 | 1.1684 | -1.5% |
| 1980 | 1.1693 | 1.2109 | 1.1423 | 1.1945 | +2.2% |
| 1981 | 1.1990 | 1.2426 | 1.1766 | 1.1863 | -0.7% |
| 1982 | 1.2344 | 1.3002 | 1.1863 | 1.2297 | +3.7% |
| 1983 | 1.2325 | 1.2511 | 1.2194 | 1.2445 | +1.2% |
| 1984 | 1.2952 | 1.3348 | 1.2416 | 1.3217 | +6.2% |
| 1985 | 1.3659 | 1.4025 | 1.3202 | 1.3985 | +5.8% |
| 1986 | 1.3896 | 1.4380 | 1.3640 | 1.3810 | -1.3% |
| 1987 | 1.3259 | 1.3785 | 1.2966 | 1.3002 | -5.8% |
| 1988 | 1.2306 | 1.2990 | 1.1858 | 1.1928 | -8.3% |
| 1989 | 1.1842 | 1.2102 | 1.1570 | 1.1580 | -2.9% |
| 1990 | 1.1668 | 1.2068 | 1.1316 | 1.1605 | +0.2% |
| 1991 | 1.1460 | 1.1645 | 1.1203 | 1.1558 | -0.4% |
| 1992 | 1.2085 | 1.2885 | 1.1420 | 1.2714 | +10.0% |
| 1993 | 1.2902 | 1.3443 | 1.2428 | 1.3255 | +4.3% |
| 1994 | 1.3664 | 1.4078 | 1.3103 | 1.4030 | +5.8% |
| 1995 | 1.3725 | 1.4238 | 1.3285 | 1.3655 | -2.7% |
| 1996 | 1.3638 | 1.3822 | 1.3310 | 1.3697 | +0.3% |
| 1997 | 1.3849 | 1.4398 | 1.3357 | 1.4288 | +4.3% |
| 1998 | 1.4836 | 1.5770 | 1.4075 | 1.5375 | +7.6% |
| 1999 | 1.4858 | 1.5302 | 1.4440 | 1.4440 | -6.1% |
| 2000 | 1.4855 | 1.5600 | 1.4350 | 1.4995 | +3.8% |
| 2001 | 1.5487 | 1.6023 | 1.4933 | 1.5925 | +6.2% |
| 2002 | 1.5704 | 1.6128 | 1.5108 | 1.5800 | -0.8% |
| 2003 | 1.4008 | 1.5750 | 1.2923 | 1.2923 | -18.2% |
| 2004 | 1.3017 | 1.3970 | 1.1775 | 1.2034 | -6.9% |
| 2005 | 1.2115 | 1.2703 | 1.1507 | 1.1656 | -3.1% |
| 2006 | 1.1340 | 1.1726 | 1.0989 | 1.1652 | -0.0% |
| 2007 | 1.0734 | 1.1852 | 0.9168 | 0.9881 | -15.2% |
| 2008 | 1.0660 | 1.2971 | 0.9717 | 1.2240 | +23.9% |
| 2009 | 1.1412 | 1.2995 | 1.0289 | 1.0461 | -14.5% |
| 2010 | 1.0298 | 1.0776 | 0.9960 | 1.0009 | -4.3% |
| 2011 | 0.9887 | 1.0605 | 0.9448 | 1.0168 | +1.6% |
| 2012 | 0.9995 | 1.0417 | 0.9710 | 0.9958 | -2.1% |
| 2013 | 1.0300 | 1.0697 | 0.9839 | 1.0637 | +6.8% |
| 2014 | 1.1043 | 1.1644 | 1.0612 | 1.1601 | +9.1% |
| 2015 | 1.2791 | 1.3989 | 1.1725 | 1.3839 | +19.3% |
| 2016 | 1.3243 | 1.4592 | 1.2544 | 1.3426 | -3.0% |
| 2017 | 1.2984 | 1.3745 | 1.2131 | 1.2517 | -6.8% |
| 2018 | 1.2957 | 1.3650 | 1.2280 | 1.3644 | +9.0% |
| 2019 | 1.3269 | 1.3591 | 1.2962 | 1.2962 | -5.0% |
| 2020 | 1.3422 | 1.4539 | 1.2715 | 1.2753 | -1.6% |
| 2021 | 1.2533 | 1.2941 | 1.2031 | 1.2777 | +0.2% |
| 2022 | 1.3014 | 1.3873 | 1.2452 | 1.3532 | +5.9% |
| 2023 | 1.3494 | 1.3879 | 1.3126 | 1.3202 | -2.4% |
| 2024 | 1.3699 | 1.4433 | 1.3310 | 1.4400 | +9.1% |
| 2025 | 1.3973 | 1.4601 | 1.3556 | 1.3712 | -4.8% |
| 2026 YTD | 1.3879 | 1.4273 | 1.3518 | 1.3957 | +1.8% |
1971–2026 · 55 complete calendar years. Annual figures are averages of available daily observations. 2026 is year to date: the average is based on 209 published trading days through 2026-10-30.
USD/CAD by decade
Annual averages grouped into decade buckets. The first and last buckets may cover fewer than ten years.
| Period | Average | High | Low | vs previous |
|---|---|---|---|---|
| 1971–1979 | 1.0397 | 1.2010 | 0.9577 | n/a |
| 1980–1989 | 1.2627 | 1.4380 | 1.1423 | +21.4% |
| 1990–1999 | 1.3269 | 1.5770 | 1.1203 | +5.1% |
| 2000–2009 | 1.2933 | 1.6128 | 0.9168 | -2.5% |
| 2010–2019 | 1.1677 | 1.4592 | 0.9448 | -9.7% |
| 2020–2026 | 1.3431 | 1.4601 | 1.2031 | +15.0% |
Average of the annual averages in each period. The first and last rows cover partial decades.
USD/CAD since 1971
US Dollar to Canadian Dollar averaged 1.0099 CAD in 1971 and 1.3973 CAD in 2025, 38.4% higher across 55 complete years.
The annual average has ranged from 0.9780 in 1974 to 1.5704 in 2002. On individual trading days the series reached 0.9168 and 1.6128, a ratio of 1.8 to 1.
The five largest USD/CAD moves
Ranked by absolute year-end change, the five largest moves were 2008 (+23.9%), 2015 (+19.3%), 2003 (-18.2%), 2007 (-15.2%), 2009 (-14.5%). The biggest was 2008, when the rate moved from 0.9881 to 1.2240, a change of 23.9%.
Across 55 complete years the pair rose in 27 and fell in 27. The average annual change was +0.8% with a standard deviation of 7.4 percentage points, which is one way to compare its volatility with other pairs.
How wide is the USD/CAD range?
The highest single observation in the series was 1.6128 in 2002, and the lowest was 0.9168 in 2007. That is a ratio of 1.8 to 1 between the two extremes.
Annual averages are narrower than single-day levels because they smooth the intra-year swings. Even so, the average has ranged from 0.9780 to 1.5704, a spread that matters for anyone converting at different points in the cycle.
USD/CAD by decade
Grouped by decade, the annual average was 1.0397 in 1971-1979 and 1.3431 in 2020-2026. The widest decade-to-decade change was +21.4% between 1971-1979 and 1980-1989, when the average moved from 1.0397 to 1.2627.
The final bucket, 2020-2026, is a partial decade and includes the year-to-date 2026 average. The table below shows every bucket with its high and low, so the short-run moves and the long-run level can be read together.
Oil, US demand and the Canadian dollar
USD/CAD includes a commodity currency. The Canadian dollar is a commodity-linked currency closely tied to the United States, its largest trading partner.
Canada is a large oil exporter and sends most of its exports to the United States. The link runs through the terms of trade: a higher export price raises national income and usually supports the exporter's currency, while a fall does the opposite. The pair therefore tracks crude prices and the US demand cycle as well as the two central banks.
The data shows that sensitivity but not a mechanical rule. The average moved +38.4% over 55 complete years, and the traded range ran from 0.9168 in 2007 to 1.6128 in 2002.
How to read the USD/CAD data
The annual figures are averages of the daily observations in Federal Reserve H.10 (DEXCAUS). Highs and lows are the most extreme single observations in each calendar year, not intraday highs. No figure on this page is estimated or interpolated.
USD/CAD history: the years that moved the rate
Each event below is dated and tied to one of the currencies in this pair.
- 2008 2008-09-15
Lehman Brothers files for bankruptcy
The collapse of Lehman Brothers triggered a global financial crisis, a flight into the US dollar and extreme volatility across currency markets.
- 2020 2020-03-15
Pandemic triggers a global dash for cash
The COVID-19 shock caused a worldwide sell-off and a surge in demand for US dollars, followed by large central bank intervention and emergency rate cuts.
- 2022 2022-03-16
Federal Reserve begins a rapid tightening cycle
The Federal Reserve raised rates for the first time since 2018 and continued with unusually large increases, driving a broad dollar rally during 2022.
USD/CAD history: common questions
What was the USD/CAD rate in 1971?
One USD averaged 1.0099 CAD in 1971, with a range of 0.9933 to 1.0248 and a year-end rate of 1.0024.
What was the biggest single-year move in USD/CAD?
2008 was the largest, at +23.9%. The year-end rate moved from 0.9881 to 1.2240.
What is the highest USD/CAD rate on record?
The highest annual average was 1.5704 in 2002. The highest single observation was 1.6128 in 2002.
What is the lowest USD/CAD rate on record?
The lowest annual average was 0.9780 in 1974. The lowest single observation was 0.9168 in 2007.
How is the USD/CAD rate calculated?
The annual figures are averages of daily observations in Federal Reserve H.10 (DEXCAUS). Highs and lows are the most extreme single observations in each calendar year.
What is the USD/CAD rate in 2026?
The 2026 average is 1.3879 CAD per USD, based on the year to date. The latest complete year, 2025, averaged 1.3973.
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