You're standing at a border crossing or staring at a checkout screen, and you see it: 100 CAD to US dollars. On the surface, it looks like a simple math problem. You take the number, multiply it by whatever Google says the rate is today, and boom—you're done.
Except it almost never works out that way in your bank account.
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Most people assume the "market rate" is the price they actually get. It isn't. Not even close. If you’ve ever traded a hundred-dollar bill at a Pearson Airport kiosk and walked away feeling like you just got robbed, you’ve experienced the "spread" firsthand. It's the silent killer of your travel budget.
Why that 100 CAD to US dollars conversion isn't what it seems
When you search for the value of 100 Canadian dollars, you’re usually seeing the mid-market rate. This is the midpoint between the buy and sell prices of two currencies. It's what big banks use to trade with each other. For a regular person? That rate is basically a myth.
Retailers—think TD Bank, RBC, or that exchange booth with the neon sign—add a markup. Usually, it's between 2.5% and 5%. So, if the "real" exchange rate means 100 CAD is worth 74 USD, you might actually only receive 70 USD or 71 USD after the middleman takes their cut. It’s annoying. Actually, it's more than annoying; it's a hidden tax on your mobility.
Let’s look at the CAD/USD relationship. It's one of the most traded currency pairs on the planet. Because Canada and the U.S. do so much business, the "Loonie" is often tied to the price of oil. When crude prices go up, the Canadian dollar usually flexes its muscles. When oil dips? The CAD often follows it down the drain. If you’re trying to time when to swap your 100 bucks, keep an eye on the West Texas Intermediate (WTI) index. It matters more than you’d think.
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The psychology of the "Hundred"
There is something psychological about the number 100. It feels like a significant unit of "purchasing power." In Toronto, 100 CAD might get you a decent dinner for two with a couple of drinks if you aren’t too fancy. Cross the border into Buffalo or Detroit, and suddenly that 70-something USD feels a bit thinner.
You’ve got to account for the "tipping creep" in the States too. While Canadian tipping is high, U.S. service expectations often start at 20% for almost everything now. Your 100 CAD effectively buys you about 30% less "stuff" once you factor in the exchange rate and the local cost of living.
Where you swap matters more than when
If you have 100 CAD and you need Greenbacks, where you go is the difference between a coffee and a full meal.
- The Big Banks: Convenient? Sure. Fair? Not really. Banks like BMO or Scotiabank usually have a spread of about 3 cents. If you’re only swapping 100 CAD, you might not care about losing three bucks. But do that every week and it adds up to a nice steak dinner by the end of the year.
- Credit Cards: Most Canadian cards charge a 2.5% foreign transaction fee. You spend $100 CAD equivalent in NYC, and the bank quietly tacks on $2.50 just for the privilege of using their plastic. Some "No FX" cards exist—like the Scotiabank Passport or the Wealthsimple card—and honestly, if you travel at all, you're crazy not to have one.
- The Airport Kiosk: Just don't. Seriously. These places have the worst rates in the known universe because they have a captive audience. You’re paying for the convenience of not having to find a bank in a foreign city.
- Wise or Revolut: These digital platforms use the actual mid-market rate and charge a transparent fee. For a 100 CAD to US dollars swap, you might pay 60 cents in fees instead of 4 dollars.
Does the 100 CAD to US dollars rate actually affect your daily life?
Even if you aren't traveling, this number dictates what you pay on Amazon. Thousands of Canadian small businesses import goods from the U.S. When the CAD is weak—say, around 72 cents—those businesses have to pay more for inventory. They don't just eat that cost. They pass it to you. That "100 CAD" value is the invisible hand behind why a laptop or a pair of sneakers suddenly costs 15% more in Vancouver than it does in Seattle.
Interest rates play a massive role here. The Bank of Canada (BoC) and the U.S. Federal Reserve (The Fed) are constantly in a game of chicken. If the Fed raises rates and the BoC stays flat, investors move their money to the U.S. to get better returns. This drives up demand for USD and leaves the CAD in the dust.
A quick reality check on historical context
We haven't seen parity—where 1 CAD equals 1 USD—since about 2013. Some people still hold out hope for those days. Back then, Canadians were flooding cross-border outlets like the Walden Galleria in Buffalo. It was a golden era for the Canadian consumer.
Today, we are in a different reality. The CAD has spent most of the last decade hovering between 70 and 80 cents USD. If you're waiting for your 100 CAD to US dollars to magically become 100 USD again, you might be waiting a very long time. It’s better to plan for a 75-cent reality and be pleasantly surprised than to hope for parity that isn't supported by the current economic divergence between the two nations.
Practical steps for your next currency exchange
Stop using the "big six" banks for small currency swaps if you can avoid it. It’s a convenience trap. If you are doing a one-off 100 CAD to US dollars trade for a quick weekend trip, just use a credit card with no foreign transaction fees. It’s safer than carrying cash and usually cheaper than the bank teller.
If you absolutely need cash, find a local dedicated currency exchange shop in a Chinatown or a busy commercial district. These "hole-in-the-wall" spots often have much tighter spreads than the major institutions because their overhead is lower and they have to compete harder for your business.
Check the "spot rate" on a site like XE or Reuters right before you walk in. If the spot rate is 0.75 and the shop is offering 0.71, walk away. A fair "retail" rate for a 100 CAD swap should be within 1.5% to 2% of the market rate.
Finally, stop thinking in "even" numbers. When you trade 100 CAD, you aren't getting a "round" amount of US money back. It's going to be a messy number with coins involved. Accept the friction, minimize the fees, and move on. The market doesn't care about your vacation budget, but with a little bit of strategy, you can at least keep the banks from taking an extra slice of your pie.
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Actionable Next Steps:
- Audit your wallet: Check if your primary credit card charges a 2.5% "Foreign Transaction Fee." If it does, swap it for a "No-FX" card before your next trip.
- Download a tracker: Use an app like Wise to set an alert for when the CAD hits a specific target (like 0.76 USD) so you can buy your travel cash when the Loonie is strongest.
- Skip the ATM at the destination: If you must use an ATM in the U.S., always decline the "convenient" conversion offered by the machine. Let your home bank do the conversion; it's almost always cheaper than the ATM's predatory internal rate.