You're looking at your screen, seeing that $90 USD sitting in a PayPal account or a digital wallet, and you want to know what it’s worth in "loonies." Simple, right? You Google 90 USD to CAD and a big, bold number pops up. Maybe it says $126.45. Maybe it's $127.10 depending on the minute. You think, "Great, I'm richer in Canada."
But honestly? You're not getting that much. Not even close.
That number you see on Google is the mid-market rate. It's the "real" exchange rate that big banks use to trade with each other. It’s the gold standard. But unless you’re a hedge fund manager or trading millions of dollars on a Bloomberg terminal, you aren't getting the mid-market rate. You’re getting the "retail" rate, which is basically the mid-market rate minus a healthy chunk of change that your bank decides to keep for itself.
It's a bit of a scam. Actually, it's a huge scam.
If you try to move that 90 USD to CAD through a standard Canadian "Big Five" bank—think RBC, TD, or Scotiabank—they’re going to shave off 2% to 4% right off the top. That $126 you expected suddenly looks more like $121. It's frustrating. It's the "hidden" fee that nobody talks about because it’s baked into the spread.
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Why 90 USD to CAD is more than just a math problem
The exchange rate between the United States Dollar and the Canadian Dollar is a chaotic dance. People call it the "Loonie" vs. the "Greenback." These two economies are like twins that sometimes hate each other but can't live apart. Since about 75% of Canadian exports go to the US, whatever happens in D.C. or on Wall Street hits Bay Street in Toronto twice as hard.
Right now, the CAD is often treated as a "commodity currency." What does that mean? It means when oil prices go up, the Canadian dollar usually flexes. When oil drops? The CAD tends to slide down the drain. If you're converting 90 USD to CAD during an oil rally, you're actually getting fewer Canadian dollars than you would have a week prior.
The volatility is real.
The "Amazon" Effect on your $90
Let’s say you’re a Canadian shopper. You see a pair of headphones on a US site for $90 USD. You think, "Okay, that's about 120 bucks." Then you get to the checkout. Suddenly, the site’s built-in currency converter tells you it's $132 CAD.
Wait. Why?
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It's called a "dynamic currency conversion" fee. The merchant is essentially offering you the "convenience" of paying in your home currency, but they charge you a premium for it. They are betting that you’re too lazy to do the math. They’re usually right. If you ever see this, always choose to pay in the local currency (USD) and let your credit card handle the conversion. Even with a 2.5% foreign transaction fee, your credit card company is almost certainly giving you a better deal than the merchant’s checkout bot.
The hidden players in the exchange game
When you search for 90 USD to CAD, you're looking at a snapshot of global confidence. The Federal Reserve in the US has been aggressive with interest rates lately. When the Fed raises rates, the USD becomes a magnet for global capital. Investors want those high-yielding American bonds. This drives the USD up and leaves the CAD (and everyone else) in the dust.
The Bank of Canada (BoC) has to play a dangerous game of "Follow the Leader." If Tiff Macklem (the BoC Governor) doesn't keep pace with the Fed, the Canadian dollar loses value fast. This makes your imported groceries more expensive, but it makes Canadian maple syrup and lumber cheaper for Americans to buy.
It’s a balancing act that affects your $90 more than you realize.
Where should you actually go to swap your cash?
If you have $90 USD in physical cash—maybe leftovers from a Vegas trip—don't go to the airport. Just don't. The kiosks at Pearson or Vancouver International are notorious. They might charge you a flat fee plus a spread so wide you could drive a Zamboni through it. You'll walk away with a handful of change and a feeling of deep regret.
- Credit Unions: Often better than the big banks. They aren't trying to please shareholders as aggressively.
- Online FX Brokers: Companies like Wise (formerly TransferWise) are the current kings of this. They actually give you the mid-market rate—the one you see on Google—and then just charge a transparent, small fee. For 90 USD, Wise might charge you 80 cents. A bank might "charge" you $5 through a bad rate.
- Norbert’s Gambit: This is too complex for a $90 trade, but you should know about it. It’s a trick used by investors to swap USD and CAD for almost zero fees by buying a stock that is listed on both the Toronto Stock Exchange and the NYSE, then moving the shares between accounts. It’s brilliant, but for $90, the commission fees would eat your soul.
Why the "Parity" dream is dead (for now)
Older Canadians remember 2011. It was a wild time. The Canadian dollar hit $1.05 USD. We were crossing the border just to buy milk and cheap tires. It felt like Canada had finally won.
But since 2014, the CAD has struggled to break back into that territory. We’ve settled into this range where 1 USD is worth roughly 1.30 to 1.40 CAD. It’s the "new normal." When you convert 90 USD to CAD today, you're benefiting from a decade of Canadian dollar weakness. You are getting more "buying power" in Canada, but only if you're buying things made in Canada. If you're using that money to buy an iPhone? The price has already been adjusted upward to compensate for the weak loonie. You aren't winning; you're just breaking even.
The psychological trap of 90 dollars
There's a weird psychological thing that happens with $90. It feels like a lot, but it's under that "hundred-dollar" threshold that makes us stop and think. Because it’s under $100, we tend to be more careless with the conversion. We accept whatever rate the ATM gives us.
If you were converting $90,000, you’d spend three days researching the best rate. But because it’s $90, you just click "accept." Over a lifetime of travel and online shopping, these "small" losses on currency exchange add up to thousands of dollars.
Real-world breakdown of a 90 USD to CAD conversion
Let's look at the actual math of what happens to your money in three different scenarios. Assume the "real" rate is 1.35.
- Scenario A: The Google Rate. You see $121.50. This is the "perfect" world. It doesn't exist for humans.
- Scenario B: The PayPal Trap. PayPal is famous for its "internal" exchange rates. They might give you 1.31 instead of 1.35. Your $90 USD becomes $117.90. You just lost nearly four dollars for the "privilege" of using their "Send" button.
- Scenario C: The Wise/Fintech Route. They give you 1.35 but charge a 70-cent fee. You end up with roughly $120.80.
That three-dollar difference between Scenario B and Scenario C might not seem like much today. But it's a 3% tax on your own money. If a store added a 3% "just because" tax at the register, you'd be annoyed. So why let the banks do it?
What happens next?
If you are holding USD and waiting for a "better" time to convert to CAD, you’re gambling on macroeconomics. The CAD is currently under pressure because the Canadian housing market is... well, it’s a mess. If the Bank of Canada has to cut rates to save homeowners from defaulting, the CAD will likely drop further. This means your 90 USD will actually be worth more Canadian dollars in a few months.
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On the flip side, if the US economy cools off and the Fed starts cutting rates faster than Canada, the USD will weaken. Your $90 will buy fewer poutines.
Actionable steps for your currency swap
Don't just blindly click "convert." Here is how you actually handle this like a pro:
Check the Xe.com or Google rate first. This is your baseline. If any service is offering you a rate that is more than 1% away from this number, they are overcharging you. Period.
If you are doing this online, use a multi-currency account. Services like EQ Bank in Canada or Wise allow you to hold USD. You can wait for a "spike" in the exchange rate and swap it when the timing is right, rather than being forced to take whatever rate is active the second you need to buy something.
Avoid "No Fee" exchange booths. This is the biggest lie in finance. There is always a fee. If they aren't charging a "service fee," it’s because they’ve padded the exchange rate so heavily that they’re making double what a normal bank would make. They aren't charities.
Lastly, if you're a freelancer getting paid in USD, stop withdrawing it directly to a CAD bank account. You are losing hundreds of dollars a year. Open a USD account at your Canadian bank. It usually costs nothing or has a small monthly fee that is waived with a minimum balance. Move the 90 USD there in full. Then, use a third-party service to convert it to CAD on your own terms.
The goal isn't just to know what 90 USD to CAD is today. The goal is to actually keep as much of that money as possible. The "official" rate is just a suggestion; the rate you actually get is a choice. Choose the one that doesn't treat your wallet like an open buffet for bank executives.