Going to Japan next summer. Should I exchange Canadian to YEN rite now while its high? or just bring credit?

Question

im going to japan tokyo next summer. and i live in canada. I couldnt be happier now because the canadian loonie is at an all time high, which means my program that im taking there will be cheaper.

when I go there I plan on buying food etc with my credit card. but should I exchange some money to YEN before i get there?

should I exchange some canadian NOW to yen? since its worth alot more?
is that even possible? I'm scared that if i wait the loonie will go down again :S lol

well im going for 2 months.

and the program i am taking is 409,000 yen :) atm im saving over $300 from the price that it was 5 months ago lol. cuz the loonie is going up :)

Answer 1

I would just wait until around the time you are leaving. If you exchange all your money now, you'll have a lot of Japanese yen and nothing to use it for, what happens if the price goes even higher? What happens if the price plummets and you don't go on your trip for another reason.

The currency exchange prices shouldn't really make a big deal unless you were staying there for medium to long term and spending a lot of living money there, instead of being a short term visitor.

Answer 2

Exchange it now. There is no way Dodge will let the loonie stay over $1.10 for any length of time. It's just too hard on Canadian manufacturing. Credit cards are not as universally accepted in Japan as in North America. Japan is still a cash society, so you will need yen for everyday shopping.

Answer 3

I think Canadian Dollar will keep this level or maybe stronger at least for next 12 months unless Canadian Government does anything to make it weaker. Haven't you paid for your program yet? If not, this is your option in my opinion.

Pay for the program now (at present JPY/CD rate).
Wait till you leave for Japan and exchange the cash you bring with.

This is the case you can avoid exchange risk most.

Enjoy you stay in Japan.