All Bank of Canada exchange rates are indicative rates only, obtained from averages of transaction prices and price quotes from financial institutions. As such, they are intended to be broadly indicative of market prices at the time of publication but do not necessarily reflect the rates at which actual market transactions have been or could be conducted. They may differ from the rates provided by financial institutions and other market sources. Bank of Canada exchange rates are released for statistical and analytical purposes only and are not intended to be used as the benchmark rate for executing foreign exchange trades. The Bank of Canada does not guarantee the accuracy or completeness of these exchange rates. Please read our full terms and conditions for all disclaimers.

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.