Front desk woman at the Presidents Club counter at the Royal York today insisted backwards and forwards that the certs were $25 CAD. I showed her the Fairmont Presidents Club website where it says "$25 US" clearly; she printed out my certificates page and it only says $25 and no currency is specified. She refused to apply the exchange and said that they're worth $25 CAD in Canada
.

I don't think I've ever had the exchange rate applied at a Canadian Fairmont. I didn't think about it until I saw this thread. In the not so distant past, with CAD close to USD, it wasn't a huge deal, but there's more of a difference at the moment.