Which bank?
Which day?
Which hour of the day?
Did you also compare the rates with currency exchange shops?
And with your credit union?
And were you looking at the Buy Rate or at the Sell Rate?
The exchange rate published in the newspaper is the one used for inter-bank exchanges in the millions of dollars (or pounds or euros or yen ). It has little to do with what your financial institution will charge you.
The rates change minute by minute. Seriously-- the banks have specialists constantly buying and selling and yes, it's all gambling in a very nice suit.
If you have a way of predicting these changes, you could have a fine career ahead of you in The City (London's banking district.)
So the rate on eBay will difficult to compare to the rate at any given moment. From the time you buy to the time you pay the rate may have risen or fallen.
The only ways to avoid this are:
Only buy from Canadian sellers who sell in Canadian dollars. More and more are doing this and eBay is encouraging them.
Buy in US dollars, pay from your credit card which makes the payment instant, instead of from a bank or PP balance which are slower and more open to changes.
Keep in mind, the change may be higher or lower.
Like I said, gambling.
