Forex P/L in CAD (Canada)
For Canadian tax records: a closed trade’s profit converted to CAD at the Bank of Canada rate for the day it closed.
How it is worked out
Profit in the quote currency = (exit − entry) × units, reversed for a sell, then multiplied by the Bank of Canada daily rate for the quote currency on the closing day. Weekends and holidays use the previous business day.
Questions
Which rate does the CRA accept?
The CRA generally expects the Bank of Canada rate on the day of the transaction, or another rate it accepts, used consistently. Ask the CRA or an accountant which applies to you.