The USD/CAD exchange rate has experienced moderate appreciation over the two-decade period from 2005 to 2025, rising from 1.21 CAD to 1.40 CAD. This represents a total increase of 0.19 CAD, equivalent to a 15.4 percent gain over twenty years with a compound annual growth rate of 0.7 percent. The currency pair demonstrated notable volatility throughout its history, reaching a low of 0.99 CAD in 2011 and achieving its peak of 1.40 CAD in 2025. The most significant single movement occurred between 2014 and 2015, when the rate surged by 15.8 percent from 1.10 CAD to 1.28 CAD. This substantial shift highlights periods of pronounced market volatility within the broader context of gradual long-term appreciation for the US dollar against its Canadian counterpart.
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Claight forecast CLAIGHT VIEW
The Claight forecast extends the pair toward its 10-year average of 1.3258 CAD using gradual mean reversion (20% per year), a standard baseline for exchange rates that tend to revert toward long-run fair value. Rate paths are volatile and sensitive to interest-rate differentials, inflation and capital flows; this is a baseline, not a point prediction.
Data table
| Year | CAD |
|---|---|
| 2005 | 1.21 |
| 2006 | 1.13 |
| 2007 | 1.07 |
| 2008 | 1.07 |
| 2009 | 1.14 |
| 2010 | 1.03 |
| 2011 | 0.99 |
| 2012 | 1.00 |
| 2013 | 1.03 |
| 2014 | 1.10 |
| 2015 | 1.28 |
| 2016 | 1.32 |
| 2017 | 1.30 |
| 2018 | 1.30 |
| 2019 | 1.33 |
| 2020 | 1.34 |
| 2021 | 1.25 |
| 2022 | 1.30 |
| 2023 | 1.35 |
| 2024 | 1.37 |
| 2025 | 1.40 |
Source: European Central Bank (ECB) euro reference rates, accessed 2026-07-04. Licence: Free with attribution. Claight analysis based on this data.