CRA does not accept average FX rates for capital gains computations

CRA does not accept using average exchange rates (e.g. an annual average) for computing capital gains or losses and requires using the respective spot rates on the days when the costs and disposition expenses were incurred and the proceeds arose.

Neal Armstrong. Summary of 10 October 2014 APFF Roundtable, Q. 9, 2014-0538631C6 F under s. 261(1) – relevant spot rate.