As of 10:34 am AST, 19 November 2020:
How to read the chart:
CAD/USD: If you come to the United States with one Canadian dollar (CAD)and wish to sell it for a US dollar (USD), the market price is .76449 USD.
USD/CAD: If you take a US dollar (USD) to Canada and wish to sell it for a Canadian dollar (CAD), the market price is 1.30788 CAD
CAD/USD=0.76449 USD/CAD=1.30788
CNH/USD= 0.15260 USD/CNH=6.55179
EUR/USD= 1.18658 USD/EUR=0.84266
DKK/USD =0.15926 USD/DKK=6.27767
NGN/USD= 0.00261 USD/NGN=380.196
JPY/USD=0.00962 USD/JPY=103.91
INR/USD=0.01347 USD/INR=74.1356
JMD/USD=0.00672 USD/JMD=145.831
GYD/USD=0.00469 USD/GYD= 204.981
GHS/USD=0.17095 USD/GHS= 5.80919
XCD/USD=0.37037 USD/XCD= 2.70
KES/USD = 0.00906 USD/KES= 108.367
Source: OANDA
Major political/legal event in the United States:
Yesterday, the U.S. Department of the Treasury released the following:
The U.S. Treasury Department and Internal Revenue Service (IRS) released guidance today clarifying the tax treatment of expenses where a Paycheck Protection Program (PPP) loan has not been forgiven by the end of the year the loan was received.
Since businesses are not taxed on the proceeds of a forgiven PPP loan, the expenses are not deductible. This results in neither a tax benefit nor tax harm since the taxpayer has not paid anything out of pocket.
If a business reasonably believes that a PPP loan will be forgiven in the future, expenses related to the loan are not deductible, whether the business has filed for forgiveness or not. Therefore, we encourage businesses to file for forgiveness as soon as possible.
In the case where a PPP loan was expected to be forgiven, and it is not, businesses will be able to deduct those expenses.
“Today’s guidance provides taxpayers with greater clarity and flexibility,” said Secretary Steven T. Mnuchin. “These provisions ensure that all small businesses receiving PPP loans are treated fairly, and we continue to encourage borrowers to file for loan forgiveness as quickly as possible.”
Source: U.S. Department of the Treasury
Alton Drew, Consiglieri 