USD to CAD in 2025: the year in numbers
Updated September 26, 2026
The US dollar averaged 1.3981 Canadian dollars in 2025, based on 255 cross rates from ECB data. The yearly average was 2.08% higher than in 2024 (1.3696), yet the Canadian dollar ended the year stronger than it began it: the first fixing was 1.4422 and the last 1.3692, a fall of 5.06% for USD/CAD.
Those two facts fit together because the US dollar was very strong in the first quarter, which lifted the yearly average, and then weakened.
Budgeting in Canadian dollars: the key numbers
| Measure | Value |
|---|---|
| Yearly average | 1.3981 |
| High | 1.465 on February 3 |
| Low | 1.3562 on June 17 |
| First fixing | 1.4422 |
| Last fixing | 1.3692 |
| Average in 2024 | 1.3696 |
For a Canadian company that buys in US dollars, the high of February 3 was the most expensive day of the year, and the low of June 17 the cheapest. The distance between them is large enough to change the cost of a year's supply of US goods by several percent.
Monthly averages for 2025
| Month | Average | Monthly range (low to high) |
|---|---|---|
| January | 1.4395 | 1.4305 to 1.4467 |
| February | 1.4304 | 1.4178 to 1.465 |
| March | 1.436 | 1.4263 to 1.4433 |
| April | 1.4005 | 1.3829 to 1.4395 |
| May | 1.3873 | 1.3719 to 1.3996 |
| June | 1.368 | 1.3562 to 1.3788 |
| July | 1.3687 | 1.3583 to 1.3837 |
| August | 1.3805 | 1.3739 to 1.3914 |
| September | 1.3831 | 1.3747 to 1.3948 |
| October | 1.3998 | 1.3928 to 1.4065 |
| November | 1.4055 | 1.4005 to 1.413 |
| December | 1.3809 | 1.3683 to 1.4004 |
How the year unfolded
First quarter. January (1.4395), February (1.4304) and March (1.436) were the three strongest months for the US dollar. February contained both the peak of the year and a wide range, from 1.4178 to 1.465.
Spring and early summer. The US dollar fell quickly in April, averaging 1.4005, and kept falling into June, the weakest month at 1.368. The low of the year came on June 17.
Second half. From July the US dollar recovered gradually: 1.3687 in July, 1.3805 in August, 1.3831 in September, 1.3998 in October and 1.4055 in November. December reversed again, averaging 1.3809 and closing the year at 1.3692.
Lessons for next year's budget
- Use a range, not a point. Monthly averages in 2025 ran from 1.368 to 1.4395. A budget that tests both ends of that range shows how sensitive margins are to the exchange rate.
- Watch the first quarter. In 2025 it was the most expensive period to buy US dollars. Whether that repeats is unknown, but large purchases concentrated in one quarter carry more risk.
- Separate the average from the closing rate. The yearly average of 1.3981 suits income statement items. Balances at year end are usually translated at the closing rate of 1.3692.
For cross-border shoppers and snowbirds
Canadians spending winters in the United States paid the most in early 2025, when the monthly average stayed between 1.4304 and 1.4395 Canadian dollars for three straight months. By December the monthly average had fallen to 1.3809, so the same US expenses cost less in Canadian dollars at the end of the year.
A simple habit helps here: note the rate each time you move money across the border, and compare it with the reference of the same day. Over a season the gap adds up.
What to do
- Open USD/CAD in 2025: monthly table for full monthly detail.
- Compare the first and last months on USD/CAD in January 2025 and USD/CAD in December 2025.
- Build your budget rate from the range of monthly averages, and review it every quarter.
- For year-end accounts, use the closing rate of 1.3692 for balances if your policy requires it.
- Check the USD to CAD exchange rate today before your next conversion.
Questions and answers
What was the average USD to CAD rate in 2025?
The US dollar averaged 1.3981 Canadian dollars in 2025, based on 255 ECB cross rates.
When was the US dollar strongest against the Canadian dollar in 2025?
The high was 1.465 on February 3, 2025, and January had the highest monthly average at 1.4395.
Did the Canadian dollar gain in 2025?
Yes. USD/CAD fell from 1.4422 at the first fixing to 1.3692 at the last, a decline of 5.06%.