This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 92.— The customer of a Winnipeg bank draws at London, England, a cheque on them for £1,000 sterling. What rate of exchange is the holder entitled to receive?
Answer.—If the cheque contains no stipulation as to the rate of exchange, the holder is entitled to receive payment at the current rate at Winnipeg for sight drafts. See section 70 (d), Bills of Exchange Act.