The Bank of Canada's official pages state that all of its exchange rates are indicative. In its fee guide, TD says that for purchases in a foreign currency, it adds 3.5% to the total converted at the rate set by Visa International.
The Bank of Canada's rates are indicative values, shown as Canadian dollars per 1 unit of foreign currency. The daily average rate is published by 16:30 Eastern Time on each business day.
Indicative rates and TD's foreign currency fee
According to the Bank of Canada's official page, all of its exchange rates are indicative. They are described as derived from the average of price quotes collected from financial institutions.
The rates are shown as the value of 1 unit of foreign currency converted into Canadian dollars.
The value of the Canadian dollar is described as being determined by the foreign exchange market. The Bank intervenes to support its value only very rarely.
In its fee guide, TD says that for purchases in a foreign currency, it adds 3.5% to the total converted into Canadian dollars at the rate set by Visa International.
- Values are Canadian dollars per 1 unit of foreign currency
- Indicative rates derived from the average of price quotes from financial institutions
Publication times and the noon and closing rates that are no longer updated
The Bank of Canada's official page states that the daily average exchange rate is published once on each business day. The monthly and annual average rates also have set deadlines. The publication deadlines are shown in the table.
Publication of the rates may be delayed by unusual market conditions or technical problems.
The former noon and closing rates were last updated on April 28, 2017. They were calculated using the old method, and the page states that they will not be updated in the future.
| Type | Publication deadline (Eastern Time) |
|---|---|
| Daily average rate | Once on each business day, by 16:30 |
| Monthly average rate | Usually by 16:30 on the last business day of the month |
| Annual average rate | By 12:30 on the last business day of the year |
Next steps
On BLOOM ABROAD's Vancouver bank accounts page, you can compare bank accounts for studying abroad and working holidays in Vancouver by monthly fee, account-opening bonus, transfer costs, and Japanese-language support.
If you will use a card issued in Japan, the credit cards for Vancouver page lets you compare annual fees, overseas travel insurance, and foreign currency fees.
Sources
Government and public bodies
- カナダ銀行 日次の為替レートのページ（2026年10月19日確認）
- カナダ銀行 為替レートのページ（2026年10月19日確認）
