When asked whether IT-320R2, para. 14 indicated that money denominated in any foreign currency is a qualified investments and whether cash denominated in U.S. dollars can be held in an RRSP, the Directorate stated:
"[M]oney" means banknotes and coins that are legal tender in the country of issue. We are also of the opinion that deposits referred to in paragraph (a) of the definition of qualified investment in section 204 may be denominated in Canadian dollars or in any foreign currency.