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When are exchange rates published?

For details, please read our full Terms and Conditions. The annual average exchange rates are published by 12:30 ET on the last business day of the year. Exchange rates are expressed as 1 unit of the foreign currency converted into Canadian dollars.

Does the Internal Revenue Service have a currency exchange rate?

The Internal Revenue Service has no official exchange rate. Generally, it accepts any posted exchange rate that is used consistently. When valuing currency of a foreign country that uses multiple exchange rates, use the rate that applies to your specific facts and circumstances.

What is an accounting rate of exchange?

The regulations of organizations give the executive head power to fix an accounting rate of exchange - that is, the rate of exchange at which non-dollar transactions will be converted to dollars in the accounts of the organization. This accounting rate is normally, though not necessarily, used for payroll purposes.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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