GIC - Be mindful of losses you will incur

[itsmecan]

Banks offer current conversion rates at the time of refund, not the rate at which it was originated, not sure why CIBC is doing that to him or if it's a misunderstanding on the student's part.

Exactly my point. I would totally understand if the exchange rates went down and I got less money. This will be treated as a loss due to changes in exchange rates. But when the exchange rates for my currency went up by 8.5% I simply don't understand why they would return the money at even a lower rate than what I had sent. This just doesn't make sense to me.

Anyways doesn't matter anymore Lets rest this topic in peace.