You might need to convert your Canadian dollars to the Australian dollars more often than you expect. Your business might also want to make large payments oversees by transferring the CAD to AUD. It is therefore essential to understand the current exc;hange rate for 1 CAD to AUD.

Whether you are a Canadian paying for the university tuition fees in Australia or buying a property in Australia, it is vital to consider the transfer fees. Fortunately, KnightsbridgeFX offer foreign currency exchange and money transfer services at affordable rates and pricing. Read on and get to learn how that is possible.

CAD to Australian Dollar Exchange Rate: History

The CAD to Australian dollar exchange rate has been fluctuating for the last ten years, with the lowest price at 0.9658 AUD per CAD on May 2011, and the highest rate at 1.1343 AUD per CAD on May 2009. As of May 20, 2019, 1 CAD was 1.0754 AUD.

Canadian Dollar Exchange Rate: Key Drivers

Canada’s stable economy makes it an excellent business destination for foreign investors and companies. However, international businesses may be at risk of making losses due to Canada’s fluctuating exchange rates.  Here are some of the drivers.

Economy Influence

The economy is one of the primary factors that influence the Canadian dollar exchange rate, relative to other countries’ economy, including their currencies’ strength. For instance, the Canadian to US dollar conversion rate is sensitive to changes in the United States’ fiscal and monetary policy.

Economic variables such as the Canadian GDP, inflation rates, imports, and exports have a significant role in determining the exchange rates. Canada Forex traders utilize such economic data to make informed decisions regarding the exchange rates.

Commodity Prices

The Canadian dollar’s performance is often associated with changes in commodity prices. If the costs of Canadian exports go up, such as oil, most foreigners get interested in investing. The capital influx will increase the value of the Canadian dollar, causing the rates to rise.

AUD Exchange Rate: What Moves It?

Like other foreign currencies, the Australian dollar exchange rate is also a subject to change due to economic implications. Let’s take a look at some of the factors that cause the Australian dollar rate to change.

Interest Rates

One of the factors influencing the Australian exchange rate is the difference in interest rates with other countries, particularly the United States. While the United States’ rates are increasing every day to improve the economic conditions, the Australian dollar rate has remained unchanged for the last 27 months.

Some of the factors, highlighted by the Reserve Bank of Australia, that have contributed to the unchanged rates include a decrease in astronomical house prices, the uncertainty of the household consumption growth, and reduced wages.

Chinese Economy

China is Australia’s largest trade partner. Any change in the Chinese economy has a significant impact on the Australian dollar rate. The bilateral talks and trade negotiations between China and Australia can influence the currency movements between the two countries. Currently, most traders base their decisions on the outcomes of such talks.

Best CAD to Australian Dollar Exchange Rate: How KnightsbridgeFX Does It?

Having processed about two billion dollars for our clients, KnightsbridgeFX is committed to helping customers save money by offering the best exchange rates. With our services, you can save up to 2% of your transaction amount. Knightsbridge’s foreign exchange rate undercuts any other bank’s rate. Here is how we do it.

Large Transactional Volume

By partnering with top banks in Canada, such as the Bank of Montreal, we purchase currencies in bulk, which translates to better exchange rates and free money transfers. We offer a same day money transfer anywhere no matter the amount.

No Hidden Fees

Exchanging currencies or transferring money through KnightsbridgeFX is an excellent idea. We offer highly competitive exchange rates with no hidden costs. Our goal is to ensure that you save as much money as possible when converting your currencies.

Special Foreign Currency Exchange Pricing

To meet the requirements of our customers, we negotiate for special foreign currency exchange pricing on their behalf. That enables us to offer a better Canada Australia exchange rate.

KnightsbridgeFX: One-Stop Solution for Your Currency Exchange Needs

KnightsbridgeFX will beat your bank’s exchange rate and transfer fees. We offer faster, secure, and reliable payment services. At Knightsbridge, we focus on reasonable pricing to suit the currency exchange needs for anyone.

Sign up now and take advantage of our quality services. With the Knightsbridge’s currency converter, you can check the live exchange rates for 1 CAD to AUD. For money transfers, we accept funds from any bank through any payment such as wire transfers.