Canada Exchange Rate

[Jeana]

What is the best way to pay for cabs, restaurants, etc. while in Vancouver? What is the exchange rate? Is it better to exchange money while still in the U.S. or do it there?

 

[Cruizer]

Your best exchange rate is via credit card. Last time I was in Canada was 1999. A US dollar was worth about 15% more than a Canadian dollar ($1 US would pay for $1.15 worth of Canadian goods). Another way to get this exchange rate is to use your ATM card in Canada to withdraw money. Withdraw $40 Canadian and you account only gets charged about $34.50. The US dollar is accepted in Canada. However, you will get Canadian coins in change, and US banks will only accept Canadian paper money (not coins). I have about $6.42 in Canadian coins somewhere at home, if you can use it (and I can find it).

 

[Jeana]

Do you think it would be better to exchange some money in the U.S. at a bank before going to Vancouver? I don't have an ATM card. Our credit card co. charges 2% conversion rate.

 

[Cruizer]

You will probably get a better exchange rate by exchaning the money at a bank. However, the US dollar is accepted in Canada. Make sure you have some small bills, because most likey you will get change in coin.

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