The October 29 Bank of Canada reference rate lists US$1 at C$1.3985, compared with C$1.4036 on October 28.
The latest official reference
The Bank of Canada's daily digest lists an October 29, 2026 indicative USD/CAD exchange rate of 1.3985, down from 1.4036 on October 28. In other words, the central-bank reference values one U.S. dollar at about 1.3985 Canadian dollars, a decline of 0.0051 Canadian dollars. That movement corresponds to a stronger Canadian dollar against the U.S. dollar in this specific comparison.
The reverse quotation also moved
The Bank's CAD/USD indicative quotation increased from 0.7125 on October 28 to 0.7151 on October 29. Under the latter quotation, one Canadian dollar is about 71.51 U.S. cents. CAD/USD and USD/CAD express reciprocal directions, but quoted rates can differ slightly from mathematical reciprocals because of the bank's aggregation and rounding method.
What the figures do and do not tell us
These numbers are daily indicative reference rates, aggregated from market quotations; they are not live interbank transaction quotes and do not guarantee the rate a consumer or business will receive. Currency exchange counters and payment cards may apply spreads and additional fees. The one-day change alone does not establish a long-term trend.
Monetary policy context
On October 28, the Bank of Canada increased its policy interest rate to 2.50%. Interest-rate decisions can affect relative returns on currencies, but exchange rates also depend on oil prices, international risk appetite, capital flows and U.S. economic data. It would be speculative to attribute the entire October 29 currency movement to a single announcement.
Sources & transparency
Bank of Canada — Daily Digest, exchange rates October 28–29Bank of Canada — October 28 rate decisionOriginal CDN News coverage. Sources are linked for reference.
Request a correction
