Interest and exchange rates

Find interest and exchange rates for payments to the Receiver General for Canada.

On this page

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 12, 2017, is 1.00%.

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 six years)

Note

The rate for August 2017 is 3.91%.

Foreign exchange rates

The Bank of America establishes the daily foreign exchange rate for the Receiver General for Canada.

Current exchange rates (updated daily)

To be used for payments to the Receiver General

Year-end exchange rates (as of March 31, 2017)

Use the following rates to revaluate foreign-denominated monetary assets and liabilities.

Foreign currency Closing exchange rate
Euro 1.4189
US Dollar 1.3299
Pound sterling 1.6662
Japanese Yen 0.01195
New Zealand dollar 0.9323
Swiss franc 1.3279
Date modified: