An exchange rate board shows two prices for each currency: We Buy and We Sell. If you are bringing foreign cash in to swap for Canadian dollars, look at We Buy. If you want to walk out with foreign cash, look at We Sell.
That one rule clears up almost all of the confusion. The rest of this guide shows you how to read each column, how to check your total before you reach the counter, and why the two numbers are never the same.
Why the board seems backwards
Most people expect the board to describe what they are doing. It doesn't. The labels describe what the exchange is doing.
When FonderX "sells" US dollars, you are the one buying them. When FonderX "buys" euros, you are the one selling them. Once you flip the point of view, the board reads cleanly.
A simple way to remember it:
- We Sell = you pay us Canadian dollars and get foreign cash.
- We Buy = you give us foreign cash and get Canadian dollars.
How to read one row on the board
Every rate on the FonderX board is quoted as Canadian dollars per 1 unit of the foreign currency. So a US dollar rate of 1.4285 means one US dollar costs $1.4285 CAD.
Here are a few rows from our board as of Thursday October 8, 2026 at 11:27 AM Pacific. Rates change through the day, so always check today's rates before you come in.
| Currency | We Buy (we pay you, CAD) | We Sell (you pay us, CAD) |
|---|---|---|
| US dollar (USD) | 1.3989 | 1.4285 |
| Euro (EUR) | 1.5800 | 1.6300 |
| British pound (GBP) | 1.8630 | 1.9146 |
| Japanese yen (JPY) | 0.0089000 | 0.0092500 |
| Mexican peso (MXN) | 0.07750 | 0.08434 |
Notice that on every row the We Sell number is higher than the We Buy number. That is a quick way to check you are reading the right column.
Working out your total, step by step
The math is one multiplication. Take the amount of foreign currency and multiply it by the rate in the column that applies to you.
Example 1: buying US dollars for a trip. You want US$500 in cash. You are buying, so use We Sell: 500 x 1.4285 = $714.25 CAD.
Example 2: selling leftover euros. You came home with €300. You are selling, so use We Buy: 300 x 1.5800 = $474.00 CAD.
Example 3: currencies with tiny rates. Some currencies, like the Japanese yen, have rates well below one cent because each unit is worth very little. Buying ¥100,000 at the We Sell rate of 0.0092500 costs 100,000 x 0.00925 = $925.00 CAD. Selling the same ¥100,000 back at 0.0089000 gives you $890.00 CAD. Count the zeros carefully with these.
Going the other way. If you know how many Canadian dollars you want to spend, divide instead. With $1,000 CAD at the USD We Sell rate of 1.4285, you would get about US$700.03 (1,000 ÷ 1.4285), before rounding to the bills available.
The gap between the two columns
The difference between We Buy and We Sell is called the spread. It is how a currency exchange covers the cost of keeping cash on hand in dozens of currencies.
Using the rates above, if you bought US$500 for $714.25 CAD and sold the same US$500 straight back, you would receive $699.45 CAD (500 x 1.3989). The $14.80 difference is the spread on that amount.
This is why it pays to plan your cash. Buying far more than you need and selling the leftover back means paying the spread twice. A few practical habits help:
- Estimate how much cash you will really use, and bring a card for the rest.
- Keep small leftover amounts for your next trip if you travel there often.
- Compare the full CAD total you will pay or receive, not just one number on the board.
Common mix-ups to avoid
Reading the wrong column. The most common mistake is looking at the We Buy rate when you are buying. Ask yourself: am I walking out with foreign cash or with Canadian dollars? Foreign cash means We Sell.
Reading the rate upside down. Our rates are CAD per 1 foreign unit. Some websites and apps show the reverse (foreign units per 1 CAD), so a number you saw online may not match the board even if nothing is wrong.
Assuming the rate is fixed. Currency rates move through the day. The rate you see online is a guide, and the rate at the time of your exchange is the one that applies. If timing matters to you, call ahead or check contact and hours.
Forgetting crypto works the same way. Our board also lists Bitcoin, USDT, ETH and other coins. We Sell is what you pay per coin, and We Buy is what we pay you. You can see those on our crypto prices page.
Visit FonderX
FonderX Currency Exchange Inc. is at Unit 2, 723 12th Street, New Westminster, BC V3M 4J8, serving New Westminster, Burnaby, Coquitlam, Surrey and Greater Vancouver. We are open Monday to Friday, 9:30 AM to 6:00 PM, and closed weekends and BC statutory holidays.
We are cash only (no cards, e-transfers or cheques), and you will need valid government photo ID. Paramedics, firefighters, police, 911 dispatchers, nurses, ER doctors and teachers can ask about our Frontline Heroes Rate with their work ID. Questions? Call us at (778) 759-0400. FonderX is a FINTRAC-registered money services business, MSB registration N300001076.
Frequently asked questions
What does We Buy and We Sell mean at a currency exchange?
We Buy is the rate the exchange pays you when you sell it foreign cash. We Sell is the rate you pay when you buy foreign cash from the exchange.
Which rate do I use when buying US dollars?
Use the We Sell rate, because the exchange is selling US dollars to you. It is the higher of the two numbers.
Why is the buy rate lower than the sell rate?
The gap between the two is called the spread, and it covers the cost of keeping foreign cash on hand. At FonderX the We Buy rate is always below the We Sell rate.
How do I calculate how much Canadian money I need?
Multiply the amount of foreign currency you want by the We Sell rate. For example, US$500 at 1.4285 is $714.25 CAD.
Do exchange rates change during the day?
Yes, rates move through the day. Check the live board on the FonderX website before you visit; the rate at the time of your exchange is the one that applies.
