As the year draws to an end and I go over the books, I see a major discrepancy in conversions.
Exchange rates posted on the Bank of Canada website at the close of markets today show the following:
US to CAN = 0.7168US to $1CAN
CAN to US = 1.3950CAN to $1US
I like to think that I understand these things to a certain extent, yet I can't seem to figure out where the extra $0.075 comes from. If I use the Daily Currency Converter - Bank of Canada the exchange numbers seem to be opposite of the numbers I posted above.
Is my understanding wrong or is there something else at play here?
Exchange rates posted on the Bank of Canada website at the close of markets today show the following:
US to CAN = 0.7168US to $1CAN
CAN to US = 1.3950CAN to $1US
I like to think that I understand these things to a certain extent, yet I can't seem to figure out where the extra $0.075 comes from. If I use the Daily Currency Converter - Bank of Canada the exchange numbers seem to be opposite of the numbers I posted above.
Is my understanding wrong or is there something else at play here?
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