Currency exchange is a major issue for Canadians to consider when planning overseas trips.
We advise Canadians to carry US dollars instead of Canadian dollars when travelling overseas. If you have US dollars already like most Canadians do, you definitely should bring US dollars and here is why:
Why You Should Travel Overseas with US Dollars
The USD is the world’s most widely accepted foreign currency while the CAD is not. As a matter of fact, in many developing countries, finding a place to exchange CAD can be difficult, whereas USD can be exchanged almost anywhere.
The reason that many currency dealers refuse to accept CAD is the lack of demand due to the relative small size of the Canadian economy. They also perceive the Canadian dollar to be a risky currency in relation to the US dollar. In times of economic uncertainty, the US dollar is considered a stable currency, making it more reliable for international transactions.
When you convert USD to the local currency in a foreign country, you’d notice that the dealer’s spread between the buying rate and selling rate is much narrower than with the CAD if Canadian dollar is accepted at all. That means you are worse off when you use CAD to buy the local currency. It is as simple as that. National pride should have nothing to do with it.
Below is a good example:
Why are you asking this question?
Are you planning a trip to Japan? If you wish to go on a guided group tour that guarantees high quality and superior value for money, you must consider Laurus Travel — one of the most highly rated Japan tour operators in Canada based on consumer reviews.
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