On September 23, 2026, the Canadian dollar weakened to its lowest level in approximately eight weeks against the U.S. dollar, while the greenback climbed to nearly a two-month high.

During the session, the Canadian dollar weakened to approximately C$1.4106 per U.S. dollar, its lowest intraday level since July 29, before trading near C$1.4100.

The Canadian dollar has faced increasing pressure in recent sessions, driven by a combination of broad U.S. dollar strength and growing concerns about Canada's economic outlook.

Why Is the Canadian Dollar Weakening?

One of the key factors affecting CAD is continued uncertainty surrounding Canada-U.S. trade relations.

Investors remain concerned that trade disruptions could affect Canadian business investment, employment, exports, and overall economic growth. As Canada remains highly integrated with the U.S. economy, changes in trade conditions can quickly influence expectations for the Canadian dollar.

Interest-rate differences between Canada and the United States are also becoming increasingly important.

When U.S. assets offer relatively higher yields, they may become more attractive to global investors, potentially increasing demand for the U.S. dollar while putting additional pressure on CAD.

U.S. Dollar Climbs to Nearly Two-Month High

On September 23, the U.S. Dollar Index advanced to around 101.1, reaching its highest level since late July.

Expectations surrounding future Federal Reserve policy remain an important driver of the currency market. Strong U.S. economic indicators have reinforced expectations that interest rates could remain elevated, supporting demand for the U.S. dollar.

A stronger U.S. dollar can affect much more than USD/CAD. Because the dollar plays a central role in global foreign exchange markets, significant USD movements can also influence the Chinese yuan and other major currencies.

Chinese Yuan Also Remains in Focus

The Chinese yuan has recently shown relative strength against the U.S. dollar.

For clients planning an RMB-to-CAD exchange, the current market therefore presents an important combination:

• The Canadian dollar has fallen to an eight-week low.

• The Chinese yuan has recently shown relative strength.

• The U.S. dollar is trading near a two-month high.

• Canada-U.S. trade uncertainty continues to affect the Canadian economic outlook.

Together, these developments could create noticeable changes in RMB-to-CAD exchange rates.

Why RMB/CAD Is About More Than the Yuan

The RMB/CAD exchange rate is a cross rate, meaning clients should not evaluate the Chinese yuan in isolation.

Movements in both USD/CNY and USD/CAD can affect the final value when converting Chinese yuan into Canadian dollars.

As a result, even when the RMB remains relatively strong against the U.S. dollar, significant movements in CAD can still change the effective RMB-to-CAD exchange rate.

This is particularly relevant for clients preparing for tuition payments, Canadian real estate transactions, family transfers, corporate settlements, or large international money transfers.

KAPU Perspective

The September 23 foreign exchange market presents a notable combination for RMB-to-CAD clients: the Canadian dollar has fallen to an eight-week low while the Chinese yuan has recently remained relatively strong.

At the same time, Federal Reserve policy, Canada-U.S. trade relations, and Canada's economic outlook continue to create uncertainty for currency markets.

For clients requiring Vancouver currency exchange, RMB-to-CAD exchange, international money transfers in Canada, or corporate cross-border payments, KAPU Currency Exchange recommends monitoring real-time exchange rates and planning transactions according to actual payment deadlines.

For larger transactions, arranging currency conversions according to funding requirements and payment schedules may also help reduce exposure to exchange-rate movements at a single point in time.