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Home  ->  Filing Your Return  ->  Stocks and Bonds  ->  Foreign Exchange Rate History

Exchange Rates for Converting US Currency to Canadian Currency

All transactions must be reported in Canadian currency on a Canadian tax return.  When the transaction is for the purchase of an asset or investment, the exchange rate in effect on the date of the transaction should be used.  However, sometimes the annual average exchange rate can be used, such as for dividends received throughout the year.

To get the exchange rate for a particular date use:

University of BC Pacific Exchange Rate Service using their Database Retrieval or

Bank of Canada Daily Exchange Rates Lookup.

Both of the above allow download of rates in various formats, including Excel (csv or xls).

The exchange rates for years up to and including April 28, 2017 are now considered "legacy" rates by the Bank of Canada, and the noon, closing, monthly average and annual average rates can be downloaded from the Bank of Canada Historical Noon and Closing Rates.

We've compiled the following table of year end and annual average exchange rates that are produced by the Bank of Canada, and can be used to convert income such as dividends, from US$ to Cdn$.  To get the Cdn $ equivalent, multiply the US$ amount by the factor from the table.  Use the year end rates to convert the total of your US investments at year end, in order to calculate your investment returns using our Investment Return Calculator.

Year Dec 31 Rate Annual
Average Rate
2023 1.3226 1.3497
2022 1.3544 1.3013
2021 1.2678 1.2535
2020 1.2732 1.3415
2019 1.2988 1.3269
2018 1.3642 1.2957
2017 1.2545 1.2986
2016 1.3427 1.32480640
2015 1.3840 1.27871080
2014 1.1601 1.10446640
2013 1.0636 1.02991480
2012 0.9949 0.99958008
2011 1.0170 0.98906920
2010 0.9946 1.02993904
2009 1.0466 1.14197729
2008 1.2246 1.06601429
2007 0.9881 1.07478127
2006 1.1653 1.13409360
2005 1.1659 1.21163240
2004 1.2036 1.30152024
2003 1.2924 1.40146175
2002 1.5796 1.57035976
2001 1.5926 1.54841633
2000 1.5002 1.48520240
1999 1.4433 1.48584024
1998 1.5305 1.48310319
1997 1.4291 1.38438685 Resources

Reporting Foreign Transactions - which exchange rate to use

Reporting Foreign Assets Owned On Form T1135

Revised: December 31, 2023


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