You should pay $1,086.96 in US dollars.
USD/CAD is the abbreviation for the U.S. dollar versus the Canadian dollar currency pair. The quotation given for the USD/CAD currency pair suggests to the reader how many Canadian dollars are needed to purchase one U.S. dollar.
Trading the USD/CAD currency pair is also learned as trading the "loonie," which is the word for the Canadian one dollar coin, which shows its namesake bird. The USD/CAD is also one of the most fluid and actively sold pairs in the forex market.
Although the USD/CAD currency pair has achieved parity at different points in history (i.e. 1:1), the U.S. dollar has traditionally been the more powerful of the two currencies. The USD/CAD currency pair is actively traded as there are significant relations ties between the two countries.
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