USD

Old Apr 26th 2009, 10:21 pm
  #1  
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Default USD

I know USD can be used in Canada, do they have a fixed rate of exchange? The reason I ask is that I have a couple of thousand dollars and want to know if I am better off changing them to sterling, to be later changed to CAD or to take them as they are.
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Old Apr 26th 2009, 11:11 pm
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Default Re: USD

Most places display the exchange rate they will offer - it will vary according to the tourist / business rates and also the business itself.
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Old Apr 26th 2009, 11:19 pm
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Default Re: USD

why dont you deposit it into a canadian bank account? they will give you the market rate for canadian dolalrs with no charge. I did this with a US dollar cheque with TD bank and the funds cleared immediately.

Usual exchange rate at shops is 1:1 that i have seen lately
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Old Apr 27th 2009, 12:44 am
  #4  
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Default Re: USD

I would also recommend putting them into a USD account alongside your normal CAD account - that way you're not at the mercy of the exchange rates and you have them for whenever you want to take a trip Stateside....

As we're on the border, shops tend to change their rate quite well, you'll get almost, but not quite the proper rate here....
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Old Apr 27th 2009, 1:14 am
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Default Re: USD

Originally Posted by ga1lf
I know USD can be used in Canada, do they have a fixed rate of exchange? The reason I ask is that I have a couple of thousand dollars and want to know if I am better off changing them to sterling, to be later changed to CAD or to take them as they are.
Although US currency can be used in Canada, it is purely up to the discretion of the merchant. They are under no obligation to accept US currency. If they won't take it, and it's all you have, you're out of luck. I suggest taking the USD to a bank/currency exchange in Canada and getting Canadian currency.
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Old Apr 27th 2009, 2:37 am
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Default Re: USD

I am in the UK, so don't have a US or Canadian bank account. Just wondered if it is worth leaving it and then bringing it over with me as USD or if it is better to exchange it for Sterling, until I move later this year (where I will be transferring other funds over). It is not included within my proof of funds, its extra that I had left over from a previous holiday.
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Old Apr 27th 2009, 2:48 am
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Default Re: USD

Originally Posted by ga1lf
I am in the UK, so don't have a US or Canadian bank account. Just wondered if it is worth leaving it and then bringing it over with me as USD or if it is better to exchange it for Sterling, until I move later this year (where I will be transferring other funds over). It is not included within my proof of funds, its extra that I had left over from a previous holiday.
USD to GBP rate is very good at the moment, so it depends if you think you'll need it before you move over - I don't think it makes much sense to change it to GBP and then back to CAD though, when dealing with cash, you'll always get a bum deal....
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