Tip # 2 Foreign Exchange Rate

 Foreign Exchange Rate Website: https://fx.sauder.ubc.ca/


If your company uses multiple currencies, you must convert all foreign currencies to Canadian dollars as the home currency when posting journal entries or when evaluating asset and liability balances at the end of the month or fiscal year

This website can be used to search for multi-currency exchange rates.


1. Go to the Pacific Exchange Rate Service website, then click on 'Database Retrieval'



2. Select the base currency and Target currencies -> set the desired date range, and then -> Click 'Retireve Data'










3. See the result: When you set the base currency to 'Canadian Dollars' and the target currency to 'U.S. Dollars,' it shows that 1 Canadian Dollar equals 0.69358 USD (as of January 2, 2025). If you reverse the setup, it shows that 1 U.S. Dollar equals 1.4418 Canadian Dollars (as of January 2, 2025)




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