The Bank of Canada's October 28 daily-average reference was C$1.4036 per U.S. dollar, versus C$1.4038 on October 27.
The official reference rate
The Bank of Canada's published FXUSDCAD series lists C$1.4036 per U.S. dollar for October 28, compared with C$1.4038 on October 27 and C$1.4025 on October 26. The change from the previous observation was C$0.0002 per U.S. dollar. This is the Bank's daily-average reference series, not a live trading quote, a retail bank's conversion rate or the precise rate available on a credit card. Currency prices move throughout the trading day and providers add their own spreads and fees.
Interest rates and the dollar
The October 28 observation coincided with the Bank of Canada's decision to increase its overnight policy rate to 2.50%. Higher policy rates can affect currency markets, but one daily exchange-rate observation does not establish which news item moved the market or why. Energy prices, U.S. economic data and shifts in global risk sentiment can also influence the Canadian dollar. The reference rate should be read alongside those broader factors rather than treated as a verdict on the decision.
What Canadians should check
People budgeting U.S.-dollar purchases or travel should compare actual provider rates and fees instead of assuming the official series is the price they will receive. Investors should also distinguish a daily average from the latest market quote. CDN News will link the Bank's observation date each time it reports the figure so readers can tell a historical reference from a current price.
Sources & transparency
Bank of Canada — FXUSDCAD daily average observations, October 28Bank of Canada — October 28 policy-rate announcementOriginal CDN News coverage. Sources are linked for reference.
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