Official Bank of Canada daily noon rates (FXUSDCAD) for May 2024. These are the rates the CRA accepts for converting foreign-currency transactions on your Canadian tax return.
The rates on this page are the official Bank of Canada daily noon exchange rates for the FXUSDCAD series. They represent the number of Canadian dollars (CAD) per one US dollar (USD). The Bank of Canada publishes these rates each business day around 16:30 ET.
For Canadian tax purposes, translate proceeds when sold, ACB when acquired, and outlays when incurred. These tables provide Bank of Canada observations; retain the observation date and methodology used.
Weekends and statutory holidays do not have published observations. Document the consistent fallback used when the applicable date is a non-business day.