Rates for Receiver General Payments

Bank rate

The Bank rate is used as the basis to calculate the Payment On Due Date (PODD) interest rate.

The current bank rate as set on July 15, 2015 is 0.50%.

Payment on Due Date

The PODD is the interest rate used by Departments of the Government of Canada to calculate the interest on overdue supplier accounts and to charge interest on overdue accounts receivable.

As per the Interest and Administrative Charges Regulations, the rate is based on the average Bank of Canada discount rate from the previous month plus 3%.

The rate for September 2015 is 3.75%.

Previous Payment On Due Date interest rates are available for 6 years.

Foreign exchange rates

The exchange rates for Receiver General (RG) payments are the daily exchange rates provided by the Bank of America®. The current Foreign exchange rates should be used for RG payments.

We have prepared a series of questions and answers about this topic in our Frequently asked questions.

Year end foreign exchange rates

The following foreign exchange rates, as at March 31, 2015, are to be used for the revaluation of foreign denominated monetary assets and liabilities.

Table summary

This table shows the Year end foreign exchange rates as at the last day of the fiscal year. The following currencies, and special closing rates are listed: Euro, U.S. dollar, Japanese Yen, Swiss Franc, Pound Sterling and New Zealand dollar, and are used specifically for the revaluation of foreign denominated monetary assets and liabilities.

Foreign currency	Closing exchange rate
Euro	1.3615
US Dollar	1.2666
Pound sterling	1.8792
Japanese Yen	0.01056
New Zealand dollar	0.9470
Swiss franc	1.3034