Update to exchange rates and currencies

As of May 1, 2017, the Bank of Canada reduced the list of foreign exchange rates that it publishes to 26 currencies. These 26 currencies reflect the vast majority of FX transactions conducted against the Canadian dollar. They are reviewed and adjusted, if required, every three years. For more information on this change, please see the Bank of Canada website: Foreign Exchange Rates Published by the Bank of Canada

In January, we updated the list of exchange rates in TaxCycle T1 and T3 to match those now supported by the Bank of Canada. This means that some exchange rates that appeared in prior versions of TaxCycle are no longer there.

Here are the 26 currency exchange rates now supported:

Australian dollar
Brazilian real
Chinese renminbi
European euro
Hong Kong dollar
Indian rupee
Indonesian rupiah
Japanese yen
Malaysian ringgit

Mexican peso
New Zealand dollar
Norwegian krone
Peruvian new sol
Russian ruble
Saudi riyal
Singapore dollar
South African rand
South Korean won

Swedish krona
Swiss franc
Taiwanese dollar
Thai baht
Turkish lira
UK pound sterling (monthly and yearly averages)
US dollar (monthly and yearly averages)
Vietnamese dong

For more information on why this change occurred and where to find exchange rates for other currencies, visit this Bank of Canada article: Foreign Exchange Rates Published by the Bank of Canada.