@Whale Tail - the Cdn $ has taken a substantial hit in the last two days, but you can do much better than that CIBC rate! At any financial institution, the over the counter rate is always inflated because there is a risk element between when they exchange the $$ for you and then for themselves. And of course labour expense and a profit element.

My credit union has an online buy/sell platform through Concentra Financial where you do everything yourself electronically in real time. I just checked the spot rate minutes ago on $10,000 usd. It was 1.3769 or .7262 so very little markup.

If you regularly deal in FX, you should see if you can get registered with someone's version of an online trading platform!