What is the EUR to CAD exchange rate today?
The euro to Canadian dollar rate can be affected by various different economic and political channels, both in Europe and in Canada.
Because of daily movements, keeping a close eye on the rate can make a huge difference to the value of your transaction when making an international payment from EUR to CAD.
EUR to CAD Chart
Canadian Dollar facts
Name: Canadian Dollar
Symbol: $ cent: ¢
Minor Unit: 1/100 = cent
Central Bank Rate: 1.50
Nicknames: Loonie, buck (English), Huard, piastre (French)
Freq Used: $1, $2, 5¢, 10¢, 25¢
Rarely Used: 1¢, 50¢
Freq Used: $5, $10, $20, $50, $100
Rarely Used: $1, $2, $500, $1000
Central Bank: Bank of Canada
What can affect the EUR to CAD rate?
The exchange rate from EUR to CAD is subject to fluctuation from both countries. While the euro can be affected by the economic and political state of any Eurozone country and the Canadian dollar can often be influenced by the state of relations with Canada’s North American neighbour, the US.
If relations are good, the EUR to CAD exchange rate tends to be in favour, but if relations are tense, it is the euro that feels the benefit.
In addition, both countries receive economic data throughout the month that reveal the health of the economy on both sides of the Atlantic. If the data reveals a strength in the economy of either side, then the corresponding currency will feel the benefit.
With such temperamental factors influencing the strength of both currencies, this can cause unpredictability for those wishing to convert euros to Canadian dollars. As a result it can be difficult to know when and how to make an international transfer, creating need for guidance from a foreign exchange specialist to track the EUR to CAD market.
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