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 January 17, 2018, is 1.50%.

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 May 2018 is 4.50%.

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.

Year-end exchange rates (as of March 31, 2018)

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

Foreign currency Closing exchange rate
Euro 1.5853
US Dollar 1.2884
Pound sterling 1.8076
Japanese Yen 0.012109
New Zealand dollar 0.9311
Swiss franc 1.3476
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