How to properly set currency and exchange rate for Bundle / Single Property?

For our resort, we operate in Canada and therefore and wish to set that as the 'base' currency.

I would just like to confirm the following for 'exchange rate'

Add Currency
• Currency name: Canadian Dollar
• Currency code: CAD
• Currency symbol: $
• Exchange rate: 1

We assign the Canadian Currency to the Asset - and Canadian Dollars will always be our base currency - therefore, is it correct to assign the value of 1 to the exchange rate?

The tool tip (when hovering over 'Exchange Rate' in the Add New Currency admin) states "Exchange rate with Dollar [U.S. Dollar?]" so it's unclear.

Would love some guidance here.

Thanks so much for taking the time to review.

Niv