About the AUD/CAD rate
The AUD/CAD rate is how many CAD one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/CAD rate history.
Related views of this rate: the reverse rate, CAD → AUD, is on the receiving Canadian dollar view, and sending Australian dollars to Canada is covered on the AUD → CAD transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
The country without a one-cent coin
Canada's currency is missing its smallest piece, and what replaced it is a published rule that shops were given. The Royal Canadian Mint stopped distributing the one-cent coin to financial institutions in 2013, and from that point cash totals have been rounded: amounts ending in one, two, six or seven cents round down, and amounts ending in three, four, eight or nine round up, while zero and five are unchanged. Businesses are expected to round the final amount fairly, consistently and transparently. Shelf prices did not change, and the penny keeps its value indefinitely for anyone who still has some.
Cheque and electronic payments were left entirely alone, which is the part that catches people out. Only the last step of a cash transaction is rounded, so the same basket can come to two different totals depending on how it is paid for, and neither till has made a mistake.
Behind the coinage, the framework governing the dollar comes up for renegotiation on a cycle. The Bank of Canada and the federal government agree the monetary policy framework for a fixed term and renew it, most recently in 2021, agreeing that price stability and maximum sustainable employment are best served by keeping inflation low, stable and predictable. A 2 per cent target is the cornerstone, with a 1 to 3 per cent control range the Bank uses flexibly when conditions warrant. The mandate is therefore a document with an expiry on it rather than a standing instruction.
Australians converting into the currency are usually doing it for people: working holidays, university exchanges, and family at both ends.
Sources: Government of Canada, Government of Canada and Royal Canadian Mint bid farewell to the Canadian penny (2013) · Bank of Canada, Monetary policy