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CPMA Exchange Rate Announcement

Published: March 21, 2017 3:13 pm ET

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On Tuesday, March 21, the Canadian Pari-Mutuel Agency announced that, effective Wednesday, March 22, all Canadian racecourse associations will be required to use the Daily Exchange Rate – and not the ‘noon’ or ‘closing’ rate – as reported for the previous day on a particular webpage.

The contents of the CPMA release appear below in both English and French.

SUBJECT: Bank of Canada Daily Average Exchange Rates

It has come to our attention that there remains some uncertainty regarding the application of the new regulations respecting the identification of the correct Bank of Canada exchange rate for converting foreign currency to Canadian dollars.

Effective Wednesday, March 22, 2017, it is expected that when relying on the rates presented by the Bank Of Canada, that all Canadian race-course associations will use the Daily Exchange Rate (and NOT the ‘noon’ or ‘closing’ rate), as reported for the previous day on the following webpage: BoC Daily Average Exchange Rates

This webpage also provides the appropriate rate for converting Canadian dollars into 26 foreign currencies, when Foreign Race Inter-Track Betting.

OBJECT: Banque du Canada des taux de change quotidiens

Il fut porté à notre attention qu’il demeure une incertitude au sujet de l’application de la nouvelle règlementation relative à l’identification du taux de change de la Banque du Canada devant être utilisé pour convertir une devise en monnaie canadienne.

À compter du mercredi 22 mars 2017, il est convenu que les associations, lorsqu’elles se réfèrent au taux de la Banque du Canada, devront utiliser le taux de change quotidien (et NON le taux de midi ou de clôture) tel que rapporté pour le jour précèdent à la page suivante: Banque du Canada - Outil de consultation des taux de change quotidiens.

Cette page fournit aussi le taux de change approprié pour convertir la monnaie canadienne en 26 devises pour le pari inter-hippodromes sur course à l’étranger.

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