Exchanging your money

Exchanging your money

By Renee Conte

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The currency exchange rate tells you how much your Canadian money is worth in the local currency you require for your trip. You can find the official exchange rate of the currency in the country you will be visiting by using the Bank of Canada’s online currency converter.

It pays to know your options when dealing with foreign exchange rates. There are a number of ways to manage your finances when you are abroad that will save you a lot of money in exchange fees.

 

Foreign currency exchange at banks

If you want cash on hand before you leave Canada, you can buy foreign currency from your bank over the phone or online. It can be delivered to your local branch for pickup. Exchange rates at banks are slightly better than exchange rates elsewhere. You can also order currency before you leave on your trip from a number of websites that will ship it to your home or the airport for pickup within a couple of days. Continue reading “Exchanging your money”