Are you overwhelmed with paying additional fees when you are trying to convert CAD to Euro at your bank? KnightsbridgeFX gives you an opportunity of gaining back your financial freedom. Unlike banks that add some hidden costs to the Canadian dollar exchange rate, we offer real-time exchange rates at affordable prices with no hidden fees.

KnightsbridgeFX does offer not only foreign currency exchange services but also free and timely money transfers. With our money transfer system, you can send vast amounts of money anywhere at relatively lower prices and increase your savings. You shouldn’t hesitate to sign up and get your free quote.

CAD to Euro Exchange Rate: History

The Canadian dollar is the seventh most traded currency in the world. Conversely, Euro is the second most traded currency in terms of the reserve. It is essential to understand the 1 CAD to EUR exchange rate before converting the Canadian currency to Euro.

Euro is one of the most stable currencies in the world. For the last ten years, the Canadian dollar to Euro exchange rate has been ranging between 0.76 Euros and 0.66 Euros for 1 CAD, with the highest rate of 0.7661 Euros per CAD observed in May 2012. The lowest CAD to Euro exchange rate was recorded in May 2018 (0.6600 euros per CAD).

Canadian Dollar Exchange Rate: Key Drivers

In most cases, the Canadian dollar exchange rate against any other country’s currency is influenced by the demand and supply of the Canadian dollar. An increase in demand for the Canadian currency increases its value and exchange rate. Here are the key drivers of the exchange rate.

Interest Rates

An increase in interest rates increases the demand for Canadian dollars by foreign investors. Additionally, the need for the CAD also depends on the anticipated future outcome. If the foreign investors expect the rates to fall in the future, they will demand higher interest rates on the CAD securities.

Commodity Prices

Any fluctuation of the world commodity prices has a significant impact on the Canadian dollar exchange rate. Canada is a world exporter of natural resources such as oil and natural gas. Any increase in the prices of these commodities translates to an increased exchange rate.

Euro Exchange Rate: What Moves It?

Foreign exchange traders can find it challenging to track and analyze the economic reports of each member state to the European Union. The reports cover vital areas such as the GDP and monetary policies. Here are some of the factors that influence the Euro exchange rate.

Prices and inflation

Like any other country’s currency, the Euro is also influenced by changes in the inflation rates. If a country’s inflation rate is too high, its currency value will depreciate automatically. In response to that, the government will tend to increase interest rates to manage inflation.

The Eurozone’s consumer price index (CPI) can be used to determine the inflation rates by calculating the prices of products that an average person can purchase. Most traders focus on the core CPI, which excludes energy and food prices since the imbalances in supply and demand influence them.

Monetary Policy

A country’s central bank plays a huge role in formulating fiscal policies. Any decision that the European Central Bank (ECB) makes concerning the interest rates has a significant influence on the Euro. Therefore, forex traders are always keen on listening to the updates by the ECB press conference.

Such conferences are vital because they forecast where the European economy is heading. If the ECB boss is more concerned about the inflation rates, the rates may rise in the future. Conversely, if he seems less concerned about inflation when releasing a press statement, the future rate hikes may be less probable.

Best Canadian Dollar to Euro Exchange Rate: How KnightsbridgeFX Does It?

As the leading currency exchange in Canada, KnightsbridgeFX focuses on providing quality foreign exchange services to customers. Here is how we do it.

Large Transaction Volume

Whether you are exchanging or transferring any amount of money to Europe, you stand a chance of getting the best exchange rate CAD Euro with KnightsbridgeFX. We buy currencies in bulk, which gives us an opportunity of offering better rates to our clients.

No Hidden Fees

Most banks often include hidden costs for every money transfer or foreign currency exchange, and this is the fact that most Canadians don’t know. Knightsbridge’s CAD to Euro exchange or Euro to Canadian dollar rate includes every price of the transaction.

Special Foreign Currency Exchange Pricing

If you are searching for a special foreign currency exchange pricing, stop looking further. At KnightsbridgeFX, we aggregate our clients’ requirements by negotiating for better prices with top Canadian financial institutions.

KnightsbridgeFX: One-Stop Solution for Your Currency Exchange Needs

At KnightsbridgeFX, we focus on offering highly competitive currency exchange rates that beat any other bank’s rate. Tell us your bank’s exchange rate and be sure we’ll beat it. KnightsbridgeFx is registered with FINTRAC, under the MSB registration number M09819788. Sign Up Now!