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 September 8, 2010 is 1.25 %.

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 2013 is 4.25 %.

Previous PODD 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 Ask Questions.

Year End Foreign Exchange Rates

The following foreign exchange rates, as at March 31, 2013, 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	1.3024
US Dollar	1.0160
Pound sterling	1.5438
Japanese Yen	0.01079
New Zealand dollar	0.8501
Swiss franc	1.0703