You’re standing at a coffee shop in Buffalo or maybe scrolling through a niche Etsy shop based in Toronto, and you see it: a price tag for ten bucks Canadian. You probably think, "That’s, what, seven or eight dollars American?"
Honestly, you're pretty close. But the gap between those two numbers is currently doing some weird things.
As of mid-January 2026, 10 Canadian dollars in US dollars sits at approximately $7.19 USD.
Now, don't just take that number to the bank and expect it to stay there until lunch. Currency exchange is basically a high-stakes, never-ending tug-of-war. If you had asked this same question back in 2024, your ten-dollar bill would have been worth nearly $7.50. A lot has happened since then, from shifting oil prices to some pretty dramatic moves by the central banks in Ottawa and D.C.
The Reality of Your Ten-Buck Bill
It’s easy to look at a screen and see 0.7189 as the rate. That’s the "mid-market" rate. It’s what big banks use to trade millions with each other. For the rest of us? We rarely see that exact number.
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If you walk into a big bank branch with a crisp purple $10 bill, they aren't giving you $7.19 back. You’ll likely walk away with closer to $6.80 after they bake their 3% or 4% "convenience" spread into the deal. Kinda frustrating, right?
The "loonie" (that’s the $1 Canadian coin for those not in the know) has had a wild ride over the last two years. We saw it dip toward $0.69 USD late in 2024, only to claw its way back. Currently, the market is feeling a bit of a squeeze. While experts like Sarah Ying at CIBC Capital Markets have been looking for a stronger Canadian dollar this year, external pressures—like falling oil prices—keep pulling it back down.
Why $7.19 Isn't Just a Random Number
Why is your tenner worth about seven bucks and change right now? It basically boils down to three things that people often overcomplicate:
- The Interest Rate Gap: The Bank of Canada and the US Federal Reserve are playing a game of chicken. If the US keeps interest rates higher for longer than Canada does, investors flock to the USD to get better returns on their savings. This makes the USD more expensive and your $10 CAD feel a bit "smaller."
- The Oil Factor: Canada is a massive exporter of energy. When oil prices drop—which they did recently following some shifts in Middle Eastern geopolitics—the Canadian dollar usually catches a cold.
- The Trade Talk: We’re in 2026. That means the USMCA (the trade deal that replaced NAFTA) is back in the spotlight for renegotiation. Markets hate uncertainty. Every time a politician mentions tariffs, the loonie starts to sweat.
Making the Most of 10 Canadian Dollars in US Dollars
If you actually have 10 bucks CAD and need to spend it south of the border, you've got options. Some are definitely better than others.
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If you use a standard credit card at a US shop, you'll likely pay a 2.5% foreign transaction fee. On ten dollars, that’s pennies. But if you’re doing this with a thousand dollars, it’s a steak dinner.
Digital wallets and apps like Wise or Revolut are generally the way to go these days. They get you much closer to that $7.19 mark than a traditional bank ever will. Honestly, the "airport kiosk" is the absolute worst place to do this—they might give you $6.00 for that $10 bill and act like they're doing you a favor.
The Long View
Looking back at the historical data, the Canadian dollar was actually quite strong at the start of 2024, hovering around 75 cents. Then 2025 hit, bringing a massive wave of volatility that saw the loonie plummet to 61 cents briefly in April before bouncing back.
Today’s rate of roughly 72 cents (or $7.19 for your ten-spot) represents a period of "relative" stability. RBC economists have noted that Canada’s population growth has stalled in 2026, which is changing how the world views the loonie's potential. We aren't seeing the massive GDP spikes we used to, so the currency is relying more on per-capita productivity.
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Actionable Steps for Your Currency Exchange
If you're planning to swap money soon, don't just wing it.
First, check the "spot rate" on a site like Google or XE right before you buy. This gives you a baseline so you know how much a vendor is overcharging you.
Second, avoid physical cash if possible. Using a travel-focused debit card that holds multiple currencies will almost always save you 2-5% compared to paper money.
Finally, watch the oil tickers. If you see Brent or WTI crude prices jumping up $5 in a day, wait 24 hours. Usually, the Canadian dollar will follow that upward trend, giving you a slightly better exchange for your US dollars. It’s a small win, but those wins add up when you're crossing the border frequently.