To calculate the percentage discrepancy, take the difference between the two exchange rates, and divide it by the market exchange rate: 1.12 – 1.0950 = 0.025/1.0950 = 0.023. Multiply by 100 to get the percentage markup: 0.023 × 100 = 2.23%. A markup will also be present if converting U.S. dollars to Canadian dollars.