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Level 3
posted Apr 16, 2025 1:21:09 PM

How to convert foreign currencies income to CND.

This question is about converting the income received in foreign currencies to CND. In 2024, I received pension payments in USD from a company in March, June, September, and December. I also received some USD annuity payments in July and August. I received pension payments in Hungarian currency in October, November, and December. Should I use the current conversion multiplier for each month separately, thereby filing a separate foreign slip for each payment, or can I use some average conversion figures? What should that figure be?

0 2 494
2 Replies
Moderator
Apr 17, 2025 2:32:22 PM

You can choose to use either an average or monthly rates. You can also use the annual rate.

 

You can get exchange rates from the Bank of Canada's website: https://www.bankofcanada.ca/rates/exchange/

 

Level 3
Apr 21, 2025 12:51:43 PM

Thanks for your help!