FinanceFOMC Minutes Confirm More US Rate Hikes Likely: What USD Strength Means for Toronto FX
The minutes from the Federal Reserve's September 16 meeting, released October 7, confirmed that all 19 participants supported the 25-basis-point hike and that most expected at least one more increase before year-end. The US Dollar Index climbed to roughly 102.3 — an 18-month high — in the days that followed. For currency exchange customers, that translates directly to the quotes on our board: a stronger USD means the CAD you hand over buys fewer US dollars, and it means incoming USD remittances convert to more Canadian dollars than they would have a month ago. Fed funds futures as of early October implied approximately 78–81% odds of a December hike. If you've been waiting for a better time to buy USD or convert incoming funds, understanding the direction of the rate cycle helps you plan that timing. Our staff can walk you through the current picture — no jargon, just the facts.
October 8, 2026
International TransferIranian Rial Near Record Lows: What the Continued Decline Means for CAD-to-IRR Transfers
The Iranian rial has continued its multi-year depreciation against major currencies through 2026. Market-rate aggregators show approximately 374,000 Iranian rials per UAE dirham in mid-2026, compared to roughly 293,000 rials per dirham in late January — a further decline of more than 25% within the year alone. Since the dirham is pegged to the US dollar at approximately 3.67 AED per USD, the rial's fall against the dollar is comparable in magnitude. For Iranians in Toronto sending money home, recipients in Iran receive more rials per Canadian dollar transferred, which helps purchasing power for everyday expenses. But Iran's banking isolation means SWIFT transfers from Canadian banks to Iranian accounts remain blocked, and working through regulated specialist bureaus rather than informal networks remains the safest and most compliant route. We process CAD-to-IRR transfers daily at 100 Exchange, using FINTRAC-compliant channels. Come in and we'll walk through the rate, the process, and the timeline.
September 30, 2026
Currency ExchangeECB Raises Rates Again as Euro-Area Inflation Holds at 3%: What EUR/CAD Customers Should Know
The European Central Bank raised its deposit facility rate by 25 basis points to 2.50% on September 10, 2026 — its second rate increase of the year — citing euro-area headline inflation averaging approximately 3.0% across 2026, driven largely by elevated energy costs tied to Middle East supply disruptions. The move matched market expectations with prediction markets pricing the hike above 97% beforehand. For EUR/CAD exchange customers, the ECB's rate path matters because it affects the relative strength of the euro against the Canadian dollar. With both the ECB and the Federal Reserve in hiking mode and the Bank of Canada on hold, the Canadian dollar faces rate-differential headwinds against both the US dollar and the euro. The ECB's next decision is October 29. If you're exchanging euros — whether sending money to Europe, receiving an incoming transfer, or moving funds from an overseas account — our rate reflects the live interbank market, not a bank's blended spread.
September 10, 2026
FinanceIMF Data: US Dollar's Share of Global Reserves Falls to 56.7% — The Long View on Currency Dominance
The IMF's Currency Composition of Official Foreign Exchange Reserves data, released September 30, shows the US dollar's share of global central bank reserves at 56.70% in Q2 2026, down from 57.18% in Q1 and continuing a gradual multi-decade decline. Total global reserves grew to $13.22 trillion in Q2, with the euro's share rising to 20.60%. The shift is slow — the dollar remains the dominant reserve currency by a wide margin — but it reflects an ongoing structural diversification that currency analysts have tracked for years. For everyday currency exchange customers, this data doesn't change the rate you get today. But it provides context for longer-term thinking: reserve diversification, combined with central bank rate divergence, is one of the forces that shapes multi-year trends in currency pairs like CAD/USD and CAD/EUR. At 100 Exchange we stay close to these fundamentals so we can give you accurate guidance — whether you're making a single transaction or planning a series of transfers over months.
September 30, 2026
