In fact, the amount of exchanging USD to CAD is much more than exchanging CAD to USD. In addition, purchasing property, vehicle, pay tuition and travel expense are supplements of the currency exchange market in Winnipeg. dollars at a full-service banking center. The demand of currency exchange in Winnipeg is mainly from agricultural actives, because most farmers sell their grains to United States and get payment by us dollars. Bank of America account holders can exchange foreign currency (no coins) for U.S. Licensed brokers who serve retail clients and small businesses fill up the rest of market gap. In addition to banks, large corporations who deal with petroleum or grains conduct massive amount of foreign exchange transactions. With the other four major banks, banks count 90% of market transaction volume. RBC is the major player in Canadian foreign exchange market. Canadian Currency Exchange MarketĪnnually, about $600 billion Canadian dollars exchanged to other currencies, over 50% is changed to US dollar and Euro dollar is the second most wanted currency. That is why exchange rates at the same moment are similar, but different broker to broker. The rates are determined based on the demand, inventory and supply of the particular dealer and also the interbank rates at that moment. Decentralized market means each currency exchange broker offers its own buy in and sell out exchange rates. London, New York and Tokyo are the three major currency exchange markets and followed by cities of Hong Kong and Singapore. Currency exchange is a decentralized market and operates 24 hours per day around the globe. Currency Mart acts as a counter-party to an off-exchange or an over-the-counter forex transaction of cash, financial instruments, futures contracts, options on futures contracts. According to a study of Bank for International Settlements, daily average was more than $6 trillion trading volume. Currency exchange is changing one currency to another for the purpose of travel, purchase or investment.

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