Home / News / Exchange rate drives Canadian currency toll changes at International Bridge
Frank A. Douglass Insurance Agency

Exchange rate drives Canadian currency toll changes at International Bridge

International Bridge customers paying Canadian currency will see the toll rate adjusted due to the low value of the Canadian dollar. The changes, effective Thursday, Oct. 1, are the result of the currency equity review conducted by bridge officials twice each year.

Starting Oct. 1, the passenger vehicle rate for Canadian currency will change from $4.10 to $4.40. The U.S. rate remains unchanged at $3.50. The April and October equity adjustments are mandated for currency changes between the U.S. and Canadian dollars. This is not a rate increase but a currency exchange adjustment.

“With the required, semi-annual currency equity review, only Canadian currency toll rates are impacted,” said Phil Becker, International Bridge Administration (IBA) general manager. The new three-tiered commuter rates will increase as well to $3.08, $3.52 and $3.96. U.S. commuter account rates remain unchanged at $2.45, $2.80 and $3.15. Discounts are based on the number of one-way crossings on each account over the previous 30 days.

Customers with 0-2 crossings receive a 10 percent discount, 3-8 crossings 20 percent, and 9 or more crossings 30 percent off the regular cash rate. Accounts no longer expire in the new commuter program.

Under the bridge’s intergovernmental operating agreement, Canadian currency toll rates must be adjusted every April and October, if the change in the average currency exchange rate during the first six months of the preceding seven months is large enough. Using U.S. currency as the benchmark, the IBA is required to keep toll equity to within 5 cents in relation to currency exchange rates.

The operation and maintenance of the International Bridge is totally self-funded, primarily through bridge tolls. It is not subsidized by any state, provincial or federal government entity. For a complete list of International Bridge tolls, visit the IBA website at www.michigan.gov/IBA.

For more information on the International Bridge, please visit www.saultbridge.com or follow us on twitter at www.twitter.com/saultbridge.

Check Also

Meal Pick Up Plans For HPTS and Hancock

Due to Houghton County Schools returning to distance learning starting Monday, we have received information …