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Exchange Rate for the Calculation of the Value for Duty Under the Customs Act
Memorandum D13-2-3

Ottawa, February 25, 2014

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In Brief

The editing revisions made in this memorandum do not affect or change any of the existing policies or procedures.

This memorandum provides information concerning the date to be used for currency conversion in the calculation of the value for duty of imported goods.


Section 55 of the Customs Act, Currency Act andCurrency Exchange for Customs Valuation Regulations.

Guidelines and General Information

Determination of Exchange Rate

1.   Section 55 of the Customs Act provides that the value for duty of imported goods shall be computed in Canadian currency in accordance with regulations made under the Currency Act.

2.   The rate of exchange to be used to convert the value for duty of imported goods from a foreign currency into Canadian currency shall be the Bank of Canada rate prevailing on the date of direct shipment of the goods to Canada. For more information on the date of direct shipment, refer to Memorandum D13-3-4, Place of Direct Shipment.

3.   Information on the applicable prevailing rate of exchange can be found in the Currency Exchange for Customs Valuation Regulations.

Additional Information

4.   For more information, call contact the CBSA Border Information Service (BIS):
Calls within Canada & the United States (toll free): 1-800-461-9999
Calls outside Canada & the United States (long distance charges apply):
1-204-983-3550 or 1-506-636-5064

TTY: 1-866-335-3237

Contact Us online (webform)
Contact Us at the CBSA website


Issuing office:
Trade Programs Directorate
Headquarters file:
Legislative references:
Customs Act
Currency Act
Currency Exchange for Customs Valuation Regulations
Other references:
Superseded memorandum D:
D13-2-3 dated September 5, 2012
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