{"id":546,"date":"2013-10-03T16:16:19","date_gmt":"2013-10-03T20:16:19","guid":{"rendered":"http:\/\/carleton.ca\/facts\/?page_id=546"},"modified":"2025-04-17T13:28:52","modified_gmt":"2025-04-17T17:28:52","slug":"currency-exchange","status":"publish","type":"page","link":"https:\/\/carleton.ca\/facts\/glossary\/c\/currency-exchange\/","title":{"rendered":"Currency Exchange"},"content":{"rendered":"<h3>What is it?<\/h3>\n<p>Currency exchange rates arise when one country\u2019s currency is exchanged for another.\u00a0 Depending on whether one is buying currency (for example making a payment) or selling currency (making a deposit), banks and other currency exchangers will provide a \u201cbuy\u201d or \u201csell\u201d rate.<\/p>\n<h3>Why is it important?<\/h3>\n<p>When claiming expenses from a foreign country, the university approved site for currency exchange is the <a href=\"https:\/\/www.bankofcanada.ca\/rates\/exchange\/daily-exchange-rates-lookup\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bank of Canada<\/a> website.<\/p>\n<p>When making a deposit that includes foreign currency, it is important to separately identify any foreign amount so that the appropriate exchange can be credited by the Cash Office, Financial Services, once the actual exchange amount is provided by our bank.<\/p>\n<h3>Where do I find more information?<\/h3>\n<p>For further information regarding exchange rates, please contact:<\/p>\n<ul>\n<li>\n<div style=\"text-align: left;\">To claim expenses\/pay supplier:\u00a0 <a href=\"&#109;&#x61;i&#108;&#x74;&#111;&#x3a;a&#99;&#x63;o&#x75;&#x6e;&#116;&#x73;&#46;&#112;&#x61;y&#x61;&#x62;&#108;&#x65;&#64;&#99;&#x61;&#114;&#x6c;e&#116;&#x6f;n&#46;&#x63;&#97;\" target=\"_blank\" rel=\"noopener noreferrer\">Accounts Payable<\/a> or the <a href=\"&#x6d;&#97;&#105;l&#x74;&#x6f;&#58;R&#x65;&#x73;&#101;a&#x72;&#x63;&#104;F&#x69;&#x6e;&#97;n&#x63;&#x65;&#64;c&#x61;&#x72;&#108;&#101;t&#x6f;&#x6e;&#46;c&#x61;\">Financial Analyst assigned to your Fund<\/a> (research-related).<\/div>\n<\/li>\n<li>To make a deposit: <a href=\"&#x6d;&#x61;&#x69;&#x6c;&#x74;&#x6f;&#x3a;&#x72;&#101;&#99;&#101;&#105;&#112;&#116;&#46;acco&#x75;&#x6e;&#x74;&#x69;&#x6e;&#x67;&#x40;&#x63;&#x61;&#114;&#108;&#101;&#116;&#111;&#110;&#46;ca\" target=\"_blank\" rel=\"noopener noreferrer\">the Cash Office<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What is it? Currency exchange rates arise when one country\u2019s currency is exchanged for another.\u00a0 Depending on whether one is buying currency (for example making a payment) or selling currency (making a deposit), banks and other currency exchangers will provide a \u201cbuy\u201d or \u201csell\u201d rate. Why is it important? When claiming expenses from a foreign [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":47,"menu_order":75,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Currency Exchange - Financial Administration Community Training &amp; Solutions<\/title>\n<meta name=\"description\" content=\"What is it? 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