When creating a report using date field, does "Today" update each time report is run?

Say I create a report that need to be run at the end of a business day to reflect that day's activities. In the report criteria screen, when selecting "Today" for the date, it inputs today's date. If I make this report run on a schedule with no user input (so the run-time box would not be of much help), does selecting "Today" update the field everytime the reports runs as scheduled?