All Bank of Canada exchange rates are indicative rates only, obtained from averages of aggregated price quotes from financial institutions. For details, please read our full Terms and Conditions. Conversions are based on Bank of Canada exchange rates, which are published each business day by 16:30 ET.
However, since most Canadians exchange currency with the bank that they have a bank account with, the banks use this as a profit centre and want to make profit on currency exchange. As a result, foreign exchange companies, can often offer better exchange rates than the bank by providing a better exchange rate and taking a lesser margin.
If you're withdrawing substantial amounts of cash, be sure that your ATM of choice is operated by one of the major retail banks (HSBC, Royal Bank of Scotland, etc).Otherwise, even if there is ostensibly no charge or fee levied by the ATM operator, the exchange rate may be highly unfavorable.
Get better rates on international currency conversion than RBC. Interchange Financial offers competitive rates on all currency exchanges. Learn more!
Foreign Exchange Quotations. Monthly roundup of key foreign exchange rates against the U.S. dollar for 197 countries plus Bank of Canada daily average rates and monthly and yearly averages. Download PDF Foreign Exchange Quotations.
Forecast Tables and Statistics. Monitor economic developments in some of the world’s largest countries including data on interest rates and currencies.
All Bank of Canada exchange rates are indicative rates only, obtained from averages of aggregated price quotes from financial institutions. For details, please read our full Terms and Conditions. The daily average exchange rates are published once each business day by 16:30 ET.
What’s more, you could be charged a higher rate if you exchange money at a hotel. At RBC Royal Bank, our foreign exchange services are an easy and affordable alternative: Convenient. Buy more than 80 currencies at any RBC branch. 1; Lower Rates. Our rates are typically lower than those charged at hotels and foreign exchange kiosks.