Interest and exchange rates
Find interest and exchange rates for payments to the Receiver General for Canada.
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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 October 24, 2018, is 2.00%.
Payment on due date
Government of Canada departments use the payment on due date interest rate 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%.
Previous payment on due date interest rates (for the past 6 years)
Note
The rate for December 2019 is 5.00%.
Foreign exchange rates
The Bank of America establishes the daily foreign exchange rate for the Receiver General for Canada.
Current exchange rates (updated daily)
These rates can be used as a guideline for estimating the foreign-equivalent value of CAD amounts owed to the Receiver General.
Use the following rates to reevaluate foreign-denominated monetary assets and liabilities.
| Foreign currency | Closing exchange rate |
|---|---|
| Euro | 1.4989 |
| US Dollar | 1.3362 |
| Pound sterling | 1.7400 |
| Japanese Yen | 0.012057 |
| New Zealand dollar | 0.9099 |
| Swiss franc | 1.3420 |