Effective 1 March 2017, the Bank of Canada will be changing how it publishes foreign exchange rate data. The number of currencies published will be reduced to roughly 25, and the Bank will no longer publish a daily noon and closing rate. Instead, a single rate reflecting the daily average exchange rate per currency pair will be published each day at 16:30 ET. For more information, see the associated press release, or refer to our background information on this matter. The final list of currencies to be published and the exact calculation methodology will be announced in Q4 of 2016.
Terms and Conditions
All Bank of Canada exchange rates are indicative rates only, obtained from averages of transaction prices and price quotes from financial institutions. Please read our full terms and conditions for details.
Exchange rate: A backgrounder explaining the role of the exchange rate in Canada's economy.
The noon exchange rate for the Canadian dollar against the U.S. dollar is calculated to reflect the trades that take place between 11:59 a.m. and 12:01 p.m. All other Canadian dollar noon exchange rates are derived from the CAD/USD exchange rate and from indicative wholesale market quotes for a broad array of other currencies.
The noon rates are updated by about 12:45 p.m. ET at month-end and 12:30 p.m. ET on other business days. The closing rates are updated at about 16:30 p.m. ET on the same business day.