Taux de Change Dollar Canadien – Current Rate 0.623 EUR
As of April 2, 2026, the Canadian dollar trades at approximately 0.623 euros per unit, reflecting sustained resilience amid volatile global markets. The EUR/CAD pair stands at 1.603, marking a 0.6% decline in the euro’s value against the loonie over the previous twelve months according to European Central Bank data.
Currency markets continue to navigate competing pressures from commodity price swings, divergent central bank policies, and overarching US dollar strength. The loonie has strengthened notably against the euro through early 2026, though domestic economic headwinds and external energy market shifts maintain volatility.
Understanding the current exchange rate requires examining real-time benchmarks alongside the structural drivers that move the currency pair beyond daily fluctuations.
What Is the Current Canadian Dollar Exchange Rate?
1 CAD = 0.623 EUR
(1 EUR = 1.603 CAD)
+0.6% CAD appreciation
(EUR decline)
Strengthening
(6-month high reached March 2026)
April 2, 2026
ECB reference rate
- Oil price correlation remains the primary driver of CAD valuation relative to energy-importing currencies.
- The Bank of Canada held its policy rate at 2.75% in April 2025, diverging from ECB cuts.
- The euro functions as a funding currency during energy shocks, creating asymmetric pressure on the currency.
- From May 1-12, 2025, the USD appreciated 1.58% against CAD and 2.59% against EUR.
- Recent trading ranges show USD/CAD between 1.37-1.41 and EUR/USD between 1.58-1.62.
- Technical indicators reveal heightened volatility expectations around central bank announcements.
| Date | CAD to EUR | Period Change |
|---|---|---|
| October 31, 2025 | 0.614 | Baseline |
| November 30, 2025 | 0.615 | +0.16% |
| December 31, 2025 | 0.619 | +0.65% |
| January 31, 2026 | 0.619 | Stable |
| February 28, 2026 | 0.619 | Stable |
| March 29, 2026 | 0.630 | +1.78% |
| April 2, 2026 | 0.623 | -1.11% (from peak) |
How Do You Convert Canadian Dollars to Euros?
Converting Canadian dollars to euros requires accessing either the wholesale interbank rate or a retail conversion service. The European Central Bank publishes daily reference rates that serve as benchmarks, while the Bank of Canada provides daily exchange rates for official transactions.
Financial institutions typically apply spreads or margins above the mid-market rate. For business registrations requiring currency documentation in Quebec, consulting the Registraire des Entreprises du Québec – Business Registration Guide ensures compliance with local financial reporting standards.
The ECB updates reference rates daily at approximately 16:00 CET based on concertation procedure between central banks. The Bank of Canada calculates daily averages based on noon trading in Toronto.
What Is the Recent and Historical Evolution of the CAD/EUR Rate?
Six-Month Appreciation Trend
From October 2025 through March 2026, the Canadian dollar exhibited steady appreciation against the euro. Historical data from OFX shows the rate climbing from 0.614 EUR per CAD in late October to 0.630 by March 29, 2026—the strongest level in this period.
March witnessed the most significant gains, with the exchange rate jumping from 0.619 to 0.630 within four weeks. This movement coincided with renewed crude oil strength and shifting expectations regarding Bank of Canada monetary policy.
Earlier 2025 Context
Prior to this strengthening phase, the loonie faced pressure from weak domestic growth data and declining export volumes. Analysis indicates these factors limited CAD gains despite supportive commodity prices during late 2024 and early 2025.
What Factors Influence the Canadian Dollar and What Are the Forecasts?
Commodity Price Sensitivity
The Canadian dollar maintains a close correlation with crude oil prices. Research from RBC Capital Markets confirms that Canada’s commodity profile provides currency support relative to energy importers, particularly when crude prices are elevated. Conversely, Europe’s structural energy dependence transforms oil supply shocks into simultaneous pressure on the euro, equities, and credit.
During energy price spikes, the euro typically weakens as import costs rise, while the CAD receives support from Canada’s net energy exporter status.
Monetary Policy Divergence
Central bank trajectories have diverged significantly. OANDA analysis from May 2025 documents the Bank of Canada holding rates at 2.75% in April 2025, pausing its cutting cycle, while the ECB delivered consistent 25-basis-point reductions since June 2024. Eurozone inflation stood at 2.20% in March 2025, supporting the ECB’s accommodative stance.
US Dollar Dominance
Broad-based dollar strength has dominated foreign exchange markets. MTFX Group analysis indicates investor flows rotate toward dollar-denominated assets, with the US economy’s net energy exporter status insulating it from shocks affecting import-dependent regions. This strength pressures both CAD and EUR, though the greenback appreciated 2.59% against the euro versus 1.58% against the Canadian dollar during early May 2025, suggesting relative CAD resilience.
Domestic Economic Headwinds
Despite external supports, weak domestic growth, falling exports, and prior job losses have limited the loonie’s upside potential. These factors create underlying softness even during periods of commodity price strength.
Technical analysis indicates heightened volatility expectations surrounding Bank of Canada and ECB announcements. EUR/CAD exhibited double top formations with negative divergence as of May 2025.
How Has the Canadian Dollar Evolved Over Time?
- : 1 CAD = 0.614 EUR — Baseline period before appreciation cycle.
- : 1 CAD = 0.615 EUR — Marginal strengthening continues.
- : 1 CAD = 0.619 EUR — End-of-year acceleration in CAD value.
- : 1 CAD = 0.619 EUR — Rate stabilizes through January.
- : 1 CAD = 0.619 EUR — Holding pattern persists.
- : 1 CAD = 0.630 EUR — Significant late-March appreciation reaches six-month high.
- : 1 EUR = 1.603 CAD (approx. 0.623 CAD/EUR) — Slight pullback from March peak, marking 0.6% annual EUR decline.
Sources: ECB Statistical Data Warehouse, OFX Historical Exchange Rates.
What Is the Difference Between Bank Rates and Market Rates for CAD?
Established Information
- Mid-market rates serve as theoretical benchmarks representing the midpoint between bid and ask prices in interbank trading.
- The ECB publishes daily reference rates at approximately 16:00 CET based on concertation procedure between central banks.
- The Bank of Canada calculates daily exchange rates from noon trading in Toronto.
- Banks and transfer services apply margins or spreads above these reference points.
Uncertain Elements
- Exact markup percentages vary significantly between institutions and transaction volumes.
- Real-time interbank rates fluctuate continuously, whereas published rates represent specific time snapshots.
- Future movements depend on unpredictable factors including geopolitical events and surprise policy shifts.
- The precise timing of Bank of Canada rate changes following the April 2025 pause remains uncertain.
Why Does the Canadian Dollar Exchange Rate Matter?
The CAD/EUR exchange rate impacts bilateral trade flows totaling billions annually between Canada and the Eurozone. For Canadian exporters, a stronger loonie reduces competitiveness in European markets, while importers benefit from cheaper European goods. Remittance flows and cross-border investments, particularly those involving Canada $250 One-Time Payment Rebate – Who Qualifies in 2025 programs or business registrations, require accurate rate monitoring to determine actual settlement values.
Energy sector dynamics create asymmetric impacts. While Canadian producers benefit from USD-denominated oil revenues converted at favorable rates, European energy import costs directly pressure the euro’s value, explaining the divergent trajectories observed in 2025-2026.
What Do Official Sources Say About CAD Exchange Rates?
“Canada’s commodity profile provides currency support relative to energy-importing economies, particularly during periods of elevated crude prices.”
RBC Capital Markets Currency Report
“The euro becomes a funding currency during energy shocks because Europe’s structural energy dependence transforms oil supply shocks into simultaneous pressure on currency, equities, and credit.”
RBC Capital Markets Analysis
“Broad-based USD strength has dominated foreign exchange markets, driven by investor flows rotating into dollar-denominated assets.”
MTFX Group Weekly Analysis
What Should You Remember About the Canadian Dollar Exchange Rate?
The Canadian dollar currently trades near 0.623 euros, reflecting six months of appreciation driven by commodity support and monetary policy divergence, offset by domestic economic weakness. Key drivers include oil price correlations, divergent BoC and ECB trajectories, and overarching USD strength. Rate movements remain volatile around central bank announcements, with technical indicators suggesting continued sensitivity to energy markets and policy shifts. For Quebec businesses, consulting the Registraire des Entreprises du Québec – Business Registration Guide ensures proper compliance when reporting foreign currency transactions.
Frequently Asked Questions
How many euros does one Canadian dollar equal?
As of April 2, 2026, 1 CAD equals approximately 0.623 EUR, or alternatively, 1 EUR equals 1.603 CAD.
Where do you find the official CAD exchange rate?
The Bank of Canada publishes daily official exchange rates at noon Toronto time, while the European Central Bank provides daily reference rates at approximately 16:00 CET.
How do you track Canadian dollar fluctuations?
Monitor the Bank of Canada and ECB daily rate publications, subscribe to forex market analysis from authorized dealers, and watch crude oil price movements which correlate strongly with CAD valuation.
Why does the Canadian dollar follow oil prices?
Canada is a net energy exporter. Higher crude prices typically strengthen the CAD because they improve Canada’s trade balance and attract commodity-linked investment flows.
How often do central bank rates change?
The ECB has cut rates by 25 basis points at each meeting since June 2024, while the Bank of Canada held rates steady at 2.75% as of April 2025 after previous cuts.
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