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Foreign Currency Exchange Services in Canada Industry Data and Analysis
Pressures from external competition from banks offering foreign exchange services have limited growth. More foreign currency exchange houses provide services to financial institutions by participating in the supply chain of foreign exchange, supplying banks with banknotes wholesale, or providing the service directly as an outsourced agent. Alongside favorable economic trends during the majority of the five years and the proliferation of online services, operators have expanded demand by extending the reach of their services. In addition, the significant jump in the inbound international travel and international trips by Canadian residents has contributed to boosting industry revenue. Overall, revenue has climbed at a CAGR of 3.1% to $296.4 million over the past five years, including an expected decrease of 1.3% in 2025 alone. Industry profit has climbed to 1.1% of revenue in 2025 due to the growth in travel.
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What's included in this industry analysis
IBISWorld's research coverage on the Foreign Currency Exchange Services industry in Canada includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released June 2025.
About this industry
What's this industry report about?
The Foreign Currency Exchange Services industry in Canada operates under the NAICS industry code 52313aCA. The Foreign Currency Exchange Services industry in Canada includes operators that offer foreign currency exchange services to consumers and businesses as a primary source of revenue. Industry services include business-to-business payment services and traditional currency exchange. Bank holding companies that do not charge fees for exchange services are not included in the industry, while ATMs are not considered establishments. Related terms covered in the Foreign Currency Exchange Services industry in Canada include kiosk, commission revenue and bid-ask spread.
What's included in this industry?
Products and services covered in Foreign Currency Exchange Services industry in Canada include Retail banking, Online foreign exchange and In-store foreign exchange.
What companies are included in this industry?
Companies covered in the Foreign Currency Exchange Services industry in Canada include Currency Exchange International Corp.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Foreign Currency Exchange Services industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Foreign Currency Exchange Services industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Foreign Currency Exchange Services industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Foreign Currency Exchange Services industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Foreign Currency Exchange Services industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Foreign Currency Exchange Services industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Foreign Currency Exchange Services industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Foreign Currency Exchange Services industry in Canada.
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Frequently Asked Questions
What is the market size of the Foreign Currency Exchange Services industry in Canada in 2026?
The market size of the Foreign Currency Exchange Services industry in Canada is $296.4m in 2026.
How many businesses are there in the Foreign Currency Exchange Services industry in Canada in 2025?
There are 181 businesses in the Foreign Currency Exchange Services industry in Canada, which has grown at a CAGR of 6.8 % between 2020 and 2025.
How may import tariffs affect the Foreign Currency Exchange Services industry in Canada?
The Foreign Currency Exchange Services industry in Canada is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Foreign Currency Exchange Services industry in Canada?
The Foreign Currency Exchange Services industry in Canada is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Foreign Currency Exchange Services industry in Canada grown or declined over the past 5 years?
The market size of the Foreign Currency Exchange Services industry in Canada has been growing at a CAGR of 3.1 % between 2020 and 2025.
What is the forecast growth of the Foreign Currency Exchange Services industry in Canada over the next 5 years?
Over the next five years, the Foreign Currency Exchange Services industry in Canada is expected to decline.
What are the biggest companies in the Foreign Currency Exchange Services industry in Canada?
The biggest company operating in the Foreign Currency Exchange Services industry in Canada is Currency Exchange International Corp.
What does the Foreign Currency Exchange Services industry in Canada include?
Providing foreign currency exchange services for consumers and Providing currency exchange services for businesses are part of the Foreign Currency Exchange Services industry in Canada.
Which companies have the highest market share in the Foreign Currency Exchange Services industry in Canada?
The company holding the most market share in the Foreign Currency Exchange Services industry in Canada is Currency Exchange International Corp..
How competitive is the Foreign Currency Exchange Services industry in Canada?
The level of competition is high and increasing in the Foreign Currency Exchange Services industry in Canada.
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