going to toronto is it best to use canadian dollars or us$?

Answer 1

Ow! Some snippy answers here. Not all of us Torontonians are so easily piqued. To respond to your question, here are some guidelines for you:
1.) exchange funds as few times as possible. Every time you exchange from one country's currency to another the bank or currency exchange service takes their cut. So, if you have any Canadian dollars, c'mon up and spend those. If you don't, be careful not to load yourself up with so many $Cdn that you exchange them again to $US at the end of your stay. The banks will love you because you will have paid them twice. But their love will have been bought which makes the banks, well, I think you have the idea;

2.) call your credit card company and find out what their fee is when you make a charge in $Cdn but pay your statement in $US. Some companies charge 3% for every purchase! You may feel this is worth it in exchange for not carrying so much cash;

3.) when you enter Canada, ask at the border about the program that reimburses taxes for certain purchases. Purchases for services (e.g. hotels) do not generally apply. Purchases for goods (e.g. clothing) generally do. Find out the details and save receipts/documentation;

4.) for some cash on-hand, an ATM withdrawl is convenient. While it might not get you the best exchange rate, this should matter little if you are only going to withdraw a couple hundred dollars;

5.) c'mon up and have a good time. Toronto is a great city!

Answer 2

Good afternoon: Yes, you will need to change US dollars for Canadian dollars when you get to Toronto. You can change money at home before you leave (your bank will have Canadian dollars) you can change it at the airport when you arrive in Toronto, or you can change it at a bank while you are in Toronto. If it were me, I would go to my own bank and get a some Canadian dollars before I set out. That's so when you arrive in Toronto, you'll have some Canadian cash for bus fare or cab fare or whatever, and a few dollars cash in your pocket. Because the dollar has been fluctuating so much, you might just want to use your VISA, AMERICAN EXPRESS or MASTER CHARGE to pay for things like hotel, restaurant, and tourist attractions -- and there are lots of them in Canada. The banks here are closed on Sunday, but the ATMs are open 24/7, and you won't have any trouble withdrawing money from your account at home. So if you run out of 'walking around' money, you can easily re-stock your supply, but you don't have to pack huge amounts of cash with you. And it's a good idea to keep your cash to a minimum, no matter where you travel! Enjoy your visit to Toronto. There's lots to see and do in that great city.

Answer 3

Toronto is one of the most multicultural varied towns on the planet and with hotelbye you may have the opportunity to visit it. Toronto is a blast, if the wheatear is great; is an energetic, big-time town abuzz with activity. In Toronto you may find a few of the world's best restaurants but also famous landmark. One of many places must-see from Toronto is the 553 yards CN Tower. Imposing above the downtown, the framework is seen from almost all around the city. Readers have the option of merely appreciating the developing from the bottom, or taking a trip up to among the observation parts or restaurants for incredible opinions of the city and Lake Ontario. The CN Tower was developed between 1972 and 1976 and was after, quite a long time before, the tallest freestanding structure in the world.

Answer 4

Most likely Canadian. Shop owners are much more apt to be polite if you do use Canadian currency. With the exchange rate at what it is right now, it won't make a substantial difference anyway. If you have a US debit card from a bank that has a deal with a Canadian bank (my TD card works with no service charge in the US) that would be a simple idea also.

Answer 5

Most restaurants, taxis, and small businesses in Canada will accept US dollars as it is a currency that can be easily exchanged at the bank.

That being said, do not expect to get the full value for your dollar. On a taxi ride of $32, the taxi driver will likely take your two US $20 bills and give you only CAD$8 back in return, even though at the bank, you might get CAD$42.10 for the two Jacksons.

My reccomendation would be to do what I do when I visit USA. Just go to the nearest ATM machine when you get to your destination and take out $200 using your debit card (I recommend a larger amount so that if your bank charges a fee for using the bank machine outside your network, you are not getting charged a large fee on a small withdrawal, and you are less likely to have to go back a second time, incurring more fees). You will be charged the daily exchange rate by your bank, and then you will have the right currency for the country you are in.

For hotels, car rentals, and larger restaurant bills, I charge it to my Visa or Mastercard, and they give me their daily exchange rate.

Answer 6

Since the exchange rate is practically ZERO right now - I would exchange whatever you THINK you need all at one time. If you find out that you don't have enough - then it's not really going to hurt you to use the US dollar...

I have seen signs posted in some stores (Dominion immediately comes to mind) saying that they will only take US money AT PAR!!!
(or at least US COINS)

I know that's only a loss of a few cents on each dollar - but it adds up over time ;););)

Answer 7

Canadian. The currency is about par at the moment but you will still lose $50 on $1000 if you go with American notes. Besides the Canadian money is prettier.

Answer 8

Use Canadian Dollars,
Not every store will exchange american money and the ones that do will give you a horrible exchange. Whenever visiting another country you should use their local money, like if i was going to the USA i would make sure i had US Dollars.

Answer 9

I just got back from Toronto on Monday and I don't believe that you will be able to use US currency while you are there. I either use my credit/debit card or go to an ATM and withdraw money from my account. It will be in Canadian currency, so you should be set. Have fun!

Answer 10

use Canadian cash.
We accept american money, but changing money at the stores you will get a very poor exchange rate.
Change your money at a bank or use a credit card.