This year's increase in the Canadian dollar is mainly due to rising raw material prices, rising output, and increased expenditures on vaccines and infrastructure imported from neighboring US. The Bank of Canada said it would gradually withdraw from the quantitative easing policy. This has pushed the Canadian dollar to achieve its biggest quarterly return against the Japanese yen and the Swiss franc for many years, and even rose by more than 1% against the US dollar, second only to the British pound this year. As for when the Canadian dollar will be exchanged, it is recommended to consult the local foreign exchange bureau.
If you need to buy Canadian dollars, it will be cheaper at China Merchants Bank (exchange rate: 5. 1358). If you want to exchange RMB, it will be more cost-effective to exchange it at Industrial Bank (exchange rate: 5. 1779). Note: Real-time exchange rate data changes at any time, and the actual exchange rate is subject to the bank's foreign exchange counter trading.
The People's Bank of China authorized China Foreign Exchange Trading Center to announce that on July 5, 2026, the central parity of RMB exchange rate in the inter-bank foreign exchange market was USD 1 RMB 6.4640, EUR 1 RMB 7.6483, JPY 100/RMB 5.8769 and RMB 1 RMB. 1 GBP to RMB 8.9548, 1 AUD to RMB 4.8338, 1 NZD to RMB 4.547 1 RMB, 1 SGD to RMB 4.7759, 1 Swiss franc to RMB 7.
1. Exchange rate refers to the exchange rate between two currencies, and can also be regarded as the value of one country's currency against another's currency. Specifically, it refers to the ratio or parity between one country's currency and another country's currency, or the price of another country's currency expressed in one country's currency.
2. Exchange rate changes have a direct regulatory effect on a country's import and export trade. Under certain conditions, by devaluing the local currency, that is, letting the exchange rate rise, it will promote exports and restrict imports; On the other hand, the appreciation of the domestic currency, that is, the decline of the exchange rate, plays a role in restricting exports and increasing imports.