Max cost amount of oversea property that selling soon

[Toffee]

Hi expert out there, I need your advice!
I'm a PR returning in 2013 and claimed a property in 2013 return. And I put the same max cost amount during the year same as year end as in 2013 and 2014 regardless of exchange rate and market value. Now I'm planning to sell it this year, I'm wondering, should I put the new updated market value with exchange rate in 2015. Since Canadian dollar has dropped so much, the property has increased the cost amount of course.
My question are:
1. Should I change the max cost amount according to new valuation value convert to the average exchange rate of the year? In 2015 return
2. I'll be selling it this year and due to the exchange rate, I notice that I can't keep the amount the same throughout 2013 & 2014, and 2015.
2013 581000 market value at origin converted to CAD
2014 581000
2015 729166 (with the avg exchange rate in 2015)
Please help!

 

[yokulkarni]

The currency drop sucks but unfortunately thats the way CRA would calculate. On brighter side if u r repatriating , u get more Canadian dollars.

so as per me
1) take exchange rate around the time u sell ur property . bankofcanada website should be good

2) 2014 and 2015 market value doesn't matter
2016 sell price - 2013 fair market value= cap gains, One-half of this amount is taxable.