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Begin with the original currency
Keep USD investments and USD bank accounts in their actual source currency. A CAD display conversion does not transform the underlying asset into CAD.
1. Compare matching dates
Quotes and FX rates may be published on different schedules. For portfolio holdings, verify the symbol, price date, quantities and cash first. For Business, reconcile the USD ledger against the USD statement before looking at a CAD report.
2. Understand the arithmetic
US$100 × 1.36 CAD per USD = CAD $136. At 1.38 the same USD amount displays as CAD $138. This is translation, not proof of a realized gain.
3. Follow the workflow that applies
Check the source
Cashflow uses Bank of Canada exchange-rate data where applicable. Its daily indicative rates usually publish once per business day. Executed trade rates and required tax rates may differ.
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