The pair of currencies - USD = US dollar, CAD=Canadian dollar - is quoted as 1 USD x CAD. So, if the pair is trading at 1.5, it means it takes 1.5 CAD to buy 1 USD. The higher this rate from a US perspective, the stronger the US dollar to the other currency. The CAD is a free floating currency, so its value isn’t pegged to the USD. The USD to CAD exchange rate was 1.35 on September 22, 2023.
See for yourself how our web-based terminal experience provides the analysis and insight you need—and go beyond with our future-focused tools for stock picking, screening, and charting, including the predictive power of the Zacks Rank.