Open the web-based tool and follow the instructions as you navigate through the application to calculate the weighted average exchange rate to be used for all your expenses without a direct exchange rate.

Foreign Currency Exchange Rate Calculator screenshot - Page 1 of 5

Figure 1 - NJC Foreign Currency Exchange Rate Calculator

 

Weighted Average Exchange Rate Form showing rate of 1.32070000

Figure 2 - NJC Weighted Average Exchange Rate Form

 

Refer to Appendix B for examples showing the use of the ‘Foreign Currency Exchange Rate Calculator’.

 

Converting Foreign Travel Expenses To Canadian Dollars*

Appendix A – Foreign Currency Exchange Rate Calculator – Data Entry Fields

Currency Information

Foreign Currency Exchange Rate Calculator screenshot - Page 2 - Currency Information

Figure 3 - NJC Foreign Currency Exchange Rate Calculator - Currency Information

 

Foreign Currency

Select the foreign currency from the drop-down list
(e.g. USD – US dollars)

a) First day in country

Enter the date for the first day in the country (use the format YYYY-MM-DD)

The Bank of Canada noon rate for the first day in the country will populate automatically. 

For currencies not listed by the Bank of Canada, enter the noon rate from another source.

b) Last day in country

Enter the date for the last day in the country (use the format YYYY-MM-DD)

The Bank of Canada noon rate for the last day in the country will populate automatically. 

For currencies not listed by the Bank of Canada, enter the noon rate from another source.

 

Expenses Claimed

Foreign Currency Exchange Rate Calculator screenshot - Page 3 - Expenses Claimed

Figure 4 - NJC Foreign Currency Exchange Rate Calculator - Expenses Claimed

 

 

Foreign Currency

CAD

a) Total expenses incurred in foreign currency from your claim

Enter the total expenses incurred in the foreign currency. You will get this amount from your claim.

b) Receipt-based expenses incurred in foreign currency with documented exchange rate

Enter the foreign currency total for receipt-based foreign currency expenses with a documented exchange rate (e.g. accommodation expenses on your credit card statement).

Enter the total Canadian amount for receipt-based foreign currency expenses with a documented exchange rate (e.g. accommodation expenses on your credit card statement). 

 

Currency Exchange Receipts

Foreign Currency Exchange Rate Calculator screenshot - Page 4 - Currency Exchange Receipts

Figure 5 - NJC Foreign Currency Exchange Rate Calculator - Currency Exchange Receipts

 

 

Foreign Currency

CAD

a) Credit card statements (excluding receipt-based expenses included in b) on previous page)

Enter the foreign currency total for foreign currency transactions on your credit card statement, (e.g. cash advances, other charges excluding personal purchases and receipt-based expenses entered on your claim).  You can also include meals and incidental purchases from your credit card, as these count as currency exchange receipts for the purposes of determining a weighted average exchange rate, even though you will be paid an allowance as per Appendix C or D of the Travel Directive.

Enter the total Canadian amount for foreign currency transactions on your credit card statement, (e.g. cash advances, other charges excluding personal purchases and receipt-based expenses entered on your claim).  You can also include meals and incidental purchases from your credit card, as these count as currency exchange receipts for the purposes of determining a weighted average exchange rate, even though you will be paid an allowance as per Appendix C or D of the Travel Directive. 

b) Bank / hotel / kiosk currency purchase

Enter the total amount of foreign currency purchased at banks, hotels or currency exchange kiosks.

Enter the total Canadian amount of foreign currency purchased at banks, hotels or currency exchange kiosks.

c) ATM withdrawals

Enter the total amount of foreign currency withdrawn at ATMs.

Enter the total Canadian amount of foreign currency withdrawn at ATMs. 

 

Finalize your travel claim

Foreign Currency Exchange Rate Calculator screenshot - Page 5 - Finalize Your Claim

Figure 6 - NJC Foreign Currency Exchange Rate Calculator - Finalize Your Claim

 

Claim # (if applicable)

Enter the claim # assigned by the system to your claim (if applicable)

 

Appendix B – Foreign Currency Exchange Rate Calculator - Scenarios

Example 1: Scenario A – No Currency Exchange Receipts

Trip to Minneapolis, USA Jan. 23-27, 2017

Total of foreign expenses $857.25 (USD) is converted to Canadian using only the average Bank of Canada noon rate – no bank receipts or credit card statements used.

NJC Weighted Average Exchange Rate Form showing rate of 1.32070000

Figure 7 - Example 1: NJC Weighted Average Exchange Rate Form

 

Date USD > CAD CAD > USD (1.3291 + 1.3123) / 2 = 1.3207
2017-01-23 1.3291 0.7524
2017-01-24 1.3174 0.7591
2017-01-25 1.3088 0.7641
2017-01-26 1.3103 0.7632
2017-01-27 1.3123 0.7620

Figure 8 – Example 1: Bank of Canada Exchange Rates - Jan 23-27, 2017

On your claim:

 

Example 2: Scenario B – Credit Card Statement for Reimbursable Receipt-Based Expenses Only

Trip to Houston, USA Oct. 1-6, 2011

Exchange rates from credit card statement used for receipt-based foreign expenses ($811.90). Average Bank of Canada rate (1.04095) used for remainder of expenses:

Weighted Average Exchange Rate Form showing rate of 1.04095000

Figure 9 - Example 2: NJC Weighted Average Exchange Rate Form

 

Hotel receipt indicating MasterCard credit of $393.12 at USD exchange rate of 1.074405 for a total of $422.37

Figure 10 – Example 2: Hotel Receipt with Credit Card Exchange Rate

 

Hotel receipt indicating MasterCard credit of $138.06 at exchange rate of USD 1.067743 for a total of $147.41

Figure 11 – Example 2: Hotel Receipt with Credit Card Exchange Rate

 

Gas receipt indicating a charge of $16.86 at USD exchange rate of 1.074405 for a total of $18.11

Figure 12 - Example 2: Gas Receipt and Credit Card Exchange Rate

 

Car rental agreement summary listing a charge of $263.96 at USD exchange rate of 1.08035 for total of $285.06

Figure 13 - Example 2: Car Rental Receipt and Credit Card Exchange Rate

 

Date 1 USD > CAD 1 CAD > USD Notice there are no
weekend rates
(Oct 1-2, 2011)
2011-09-30 1.0389 0.9626
2011-10-03 1.0440 0.9579
2011-10-04 1.0604 0.9430
2011-10-05 1.0449 0.9570
2011-10-06 1.0430 0.9588


Figure
14 – Example 2: Bank of Canada USD Exchange Rates -
Sep 30 – Oct 6, 2011

On your claim:

 

Example 3: Scenario C – Bank Currency Exchange Receipt Only

Trip to Montana, USA Dec. 1-2, 2010

Total amount of foreign currency withdrawn from bank ($400) is higher than allowable foreign expenses ($385.25); therefore, average Bank of Canada rates are excluded from the calculation. Credit card statement not used / supplied:

Weighted Average Exchange Rate Form showing a rate of 1.01820000

Figure 15 - Example 3: NJC Weighted Average Exchange Rate Form

 

Date 1 USD > CAD 1 CAD > USD In this scenario, the Bank of Canada
rates are not used in the calculation
as the currency exchanged is greater
than the total foreign expenses.
2010-12-01 1.0160 0.9843
2010-12-02 1.0046 0.9954

Figure 16 – Example 3 Bank of Canada USD Exchange Rates - Dec 1-2, 2010

On your claim:

 

Example 4: Scenario C – Bank Currency Exchange Receipt Only

Trip to Australia Oct. 14-28, 2010

Total amount of foreign currency withdrawn from bank ($1,500) is lower than allowable foreign expenses ($3,286.30). Therefore, the weighted average exchange rate (1.02939030) is based on exchange rate from bank receipt (1.066594) and average Bank of Canada rates (0.99815). Credit card statement not used / supplied.

Weighted Average Exchange Rate Form showing a rate of 1.02939030

Figure 17 - Example 4: NJC Weighted Average Exchange Rate Form

 

Currency exchange receipt from AUD to CAD showing $1,500 AUD exchanged at a rate of 1.066594 totaling $1,599.89 CAD. These amounts are entered into step 3 of the calculator.

Figure 18 - Example 4: Currency Exchange Receipt

Date 1 AUD > CAD 1 CAD > AUD
2010-10-14 0.9979 1.0021
2010-10-15 0.9989 1.0011
2010-10-18 1.0064 0.9936
2010-10-19 1.0049 0.9951
2010-10-20 1.0088 0.9913
2010-10-21 1.0063 0.9937
2010-10-22 1.0040 0.9960
2010-10-25 1.0129 0.9873
2010-10-26 1.0081 0.9920
2010-10-27 1.0009 0.9991
2010-10-28 0.9984 1.0016

 Figure 19 – Example 4: Bank of Canada AUD Exchange Rates - Oct 14-28, 2010

On your claim:

 

Example 5: Scenario C – Credit Card Statement and Bank Currency Exchange Receipt

Trip to Miami, USA Nov. 17 - Dec. 1, 2010

Total foreign currency exchange receipts from bank ($1,500) are higher than allowable foreign expenses without documented exchange rate ($1,054.50); therefore, Bank of Canada rates are excluded from the calculation.

Weighted Average Exchange Rate Form showing a rate of 1.03600000

Figure 20 - Example 5: NJC Weighted Average Exchange Rate Form

 

Credit card receipt indicating exchange rates used for purchases (1.042179 for hotel, 1.050490 for car rental, 1,050632 for gas)

Figure 21 - Example 5: Exchange Rates from Credit Card

 

Currency exchange receipt for $1,518.75 at a rate of 1.036 for a total of $1,554.00

Figure 22 - Example 5: Currency Exchange Receipt

 

Date 1 USD > CAD 1 CAD > USD
2010-11-18 1.0174 0.9829
2010-11-19 1.0208 0.9796
2010-11-22 1.0187 0.9816
2010-11-23 1.0245 0.9761
2010-11-24 1.0108 0.9893
2010-11-25 1.0083 0.9918
2010-11-26 1.0191 0.9813
2010-11-29 1.0227 0.9778
2010-11-30 1.0264 0.9743
2010-12-01 1.0160 0.9843


Figure
23 – Example 5: Bank of Canada USD Exchange Rates -
Nov 17 - Dec 1, 2010

On your claim:

 

Example 6: Scenario C – Credit Card Statement Including Purchased Meals

Meals and incidental expenses: Although meals and incidentals are reimbursed based on the allowance rates in Appendices C and D of the Travel Directive, the associated exchange rate on your credit card statement can be used in the calculation of the weighted average exchange rate to be applied to your meal and incidental allowances and reimbursable receipt-based expenses paid in cash.

In this example, a meal was purchased for $28.60 USD. This amount is included in line 3a (with 1.36 exchange rate) but excluded from line 2b, since it is covered by the meal allowance and is not a reimbursable receipt-based expense. This in turn, raises the average rate from 1.34395 to 1.34587929 as shown below:

With Meal(s):

Weighted Average Exchange Rate Form - With Meal on Credit Card showing a rate of 1.34587929

Figure 24 - Example 6: Weighted Average Exchange Rate Form -
With Meal on Credit Card

Without Meal(s):

Weighted Average Exchange Rate Form - Without Meal on Credit Card showing a rate of 1.34395000

Figure 25 - Example 6: Weighted Average Exchange Rate Form -
Without Meal on Credit Card