Currancy exchange rates changed months ago. CAD is worth more than USD, why are we still being charged more than the going rate?

[merryliza]

Currancy exchange rates changed months ago.  CAD is worth more than USD, why are we still being charged more than the going rate?

[heidilynn0_3]

Hi merryliza ..because the nominal rate between banks does not reflect what it costs you and i to buy currency.  From a retail perspective , the nominal rate would have to be approx $1.035 to equal $1. US.

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