Simply put, an exchange rate is how much one type of currency costs to trade for a different kind. This can go either way -- the currency you're starting with, say U.S. dollars, might be worth quite a bit more than the currency you're trying to trade into -- for example, U.K...
The prime rate in Canada, as of Apr. 16, 2025, is 4.95%. When you’re considering a new line of credit or a mortgage with a variable rate, you also will need to keep a close eye on the prime rate. This will ultimately determine how much interest you’ll pay over time, in additi...
Exchange rates can be either fixed or floating. Most major nations have floating rates - meaning that the value of their currency goes up and down with the market. However, other countries choose to fix (or ‘peg’) their rate to another currency. For example, in Bulgaria, the Lev is pe...
Unlike other banks and money transfer providers, Wise always uses the mid-market exchange rate for international transfers. This is the standard rate for currency conversion – and Wise doesn’t add any markups or profit margins to your transaction. You’ll only pay for what you spend. This e...
With virtually all other prepaid cards, a 3% currency conversion fee is taken from you at some point. It could be when you use the card, or when you load it with funds. It's usually a hidden fee (built into the exchange rate) so most people are unaware. ...
If the real exchange rate is appreciating, the nominal exchange rate can be depreciating as long as: a) (Price in home country / Price in foreign country) is rising faster than the nominal exchange ra If a country with a fixed excha...
Learn how Canadian Depositary Receipts (CDRs) can provide you with access to global investment opportunities without directly investing in foreign markets.
Exchange-traded funds (ETFs). Bonds. Mutual funds. Guaranteed investment certificates (GICs). How does a TFSA work? A TFSA is a unique financial tool that you can use to meet your needs and future goals. Some people use a TFSA for short-term savings, such as an emergency fund or a do...
What is exchange-rate risk? How can exchange rate risk be hedged using forward, futures, and options contracts?Exchange RateExchange rate refers to the change in the value of the currency in relation to other currencies. These rates are usually decided by...
Find out the Mastercard exchange rate and how to check it in our handy guide, so you can use your Mastercard abroad in confidence.