Capital gains for USD exchanging to CAD?

[wyho007]

When I land, I will bring USD with me. If I later exchange that into CAD, will that trigger capital gains/losses for each transaction? What will be the cost basis?

 

[paras1991]

Sundry dispositions of foreign currency by individuals, such as a conversion of travellers cheques in foreign funds to Canadian dollars on return from a vacation, are considered to be on account of capital. Foreign exchange losses sustained on the repayment of a debt which was given to acquire a personal-use property are also considered to be capital losses under subsection 39(2).