Cross-border Currency and Monetary Instruments Reporting Regulations

2 (1) For the purposes of subsection 12(1) of the Act, the prescribed amount is $10,000.

(2) The amount is in Canadian dollars, or in its equivalent in a foreign currency using

• (a) the exchange rate that is published by the Bank of Canada for that foreign currency and that is in effect at the time of the importation or exportation; or

• (b) if no exchange rate is published by the Bank of Canada for that foreign currency, the exchange rate that the person or entity would use in the ordinary course of business at the time of the importation or exportation.