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US$ to Canadian $

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Queens, New York
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US$ to Canadian $

Given that the US$ is no longer favorable to the Canadian $ I am curious as to how local establishments are handling the US$. Are they discounting it or treating it on par with the Can$?

Montreal, Canada
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for Quebec, Montreal, Quebec City, Mont Tremblant, Miami, Miami Beach
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1. Re: US$ to Canadian $

I would say that at the moment most places are still exchanging at par but more and more places are wondering if they should start to charge some exchange and some have already started to do so.

3 factors here:

-the Canadian economy is in way better shape than the US so the superiority of our dollar is probably there to stay.

-Montreal and Québec City had their best touristic season so far in many years, proof that Americans are still coming to visit us even if the exchange rate is not favorable anymore.

-the tip earning employees might not be happy to have to convert part of their tip in Canadian and loose on the outcome. Since all major hotels in Mtl and Qc are unionized that could play a role bigger than what the hotel and restaurants are actually loosing.

So I would go Canadian all the time if possible but not rushing to change your funds. The best way is to go to a bank owned/operated ATM and ithdraw that is a much better option than money exchange desk, although if banks are open you will get a good exchange rate and user fee. Even better some US and Canadian banks have an affiliation and then no real fee is charged.

West Grey, Ontario
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for Toronto
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2. Re: US$ to Canadian $

Hi mikejayphoto;

To be respectful to your host country, when in Rome...

Many businesses will accept American currency as a courtesy to American tourists. Businesses that choose to accept US dollars set their own exchange rate, so you may find the rate different from store to store, and the rate will NOT be in your favour. You will receive your change in Canadian funds. Coins, as a general rule, are accepted at face value…at par.

Automated equipment, i.e. vending machines, public transit machines, parking meters, etc - basically anything where you insert coins / bills... will only accept Canadian currency.

Most places will take credit cards, however there may be fees over and above the exchange rate charged by the credit card issuer. Some credit cards have a Foreign Usage Fee tacked on for usage outside of the issuing country. Check with your card issuer for exact details.

You could always use your bank card to withdraw money from an ATM. Check with your bank to find which Canadian banks they have an agreement with and then utilize that Canadian bank’s ATM for the fewest / cheapest fees & surcharges.

For some money saving tips, have a look at the traveller article “Canada – Banks & Money” here on TA.


Best Regards

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3. Re: US$ to Canadian $

Many places in the tourist area accepted US dollars but were giving 90-93 cents to the Canadian dollar and they were calculating in front of you on calculators.

4. Re: US$ to Canadian $

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Removed on: 09 October 2012, 19:16