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Best Currency To Use in Canada
May 3, 2023 Currency Exchange
3 minutes, 31 seconds Read

Best Currency To Use in Canada: Quick Guide and Tips

Best Currency To Use in Canada


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If you are planning a trip to Canada, you are on the right track. Canada will mesmerize you with its soulful culture, verdant natural beauty, and its vibrant landscapes. Tourists are known to flock to Canada for a dose of exuberance and adventure. But, in order to thoroughly enjoy your vacation, there are some things that you absolutely need to get out of the way – one of them being currency exchange. This is a must-have on your to-do list before you fly out to Canada. Not sure of which currency to carry with you to Canada? We are here to help you. Let’s see which is the best currency that you can use in Canada.

Which currency is the best one to use in Canada?

Here are 3 different options that you can choose from in order to answer the above question:

1. Carry USD to Canada

While you may carry US dollars to Canada, however, if you are planning to solely rely on the US dollar to meet all your expenses in Canada, you might want to think again. Though this currency is widely accepted at retailers, hotels, and border crossings, smaller rural areas prefer the local currency and do not accept USD. Hence, you need to use the Canadian official currency for your local cab fare, laundromats and other things. 

2: Carry Canadian dollars to Canada

Canadians on the whole agree that they prefer to be paid in their local currency. The local currency is appreciated by the locals. In this case, you will need to convert INR into the Canadian dollar before you embark on your journey. You can convert your INR to CAD at best forex rates  with BookMyForex. Sometimes carrying too much cash is unsafe and inconvenient. In that case, you can also load CAD on the forex card offered by BookMyForex. You will not only get the best and the most competitive exchange rates but also same-day doorstep delivery of your forex card or foreign currency.

3: Carry Indian Rupees & convert them in Canada

Another option is to carry your own native currency i.e the INR or Indian Rupees to Canada and exchange the currency there for Canadian dollars. However, be warned that this is the least recommended option. Although there are several offline exchange stores in Canada where you can exchange your local currency, these stores have high fixed costs owing to rents and salaries of employees which invariably get transferred to high exchange rates that you end up paying. Therefore, it is advisable to book your foreign currency well in advance from a trusted platform such as BookMyForex to obviate the inconvenience of high exchange rates.

Which currency should one take to Canada?

Now that you have gone through the three options above, it will not be very difficult for you to choose the best option. It is evident that the Canadian dollar is the best currency to carry as it is the favored currency by the locals. The USD is not accepted everywhere in Canada and hence is limited in its usage. Indian Rupees being exchanged in Canada will carry hefty exchange rates to the tune of 5%- 7%. Hence the best option is to exchange Indian currency for Canadian dollars beforehand. Utilize best and competitive rates offered by BookMyForex and save anywhere between 2.5% – 6.5% over local banks, airport kiosks and other shady money changers in India.

Frequently Asked Questions

What is the best currency to take to Canada?

When you travel to Canada, it is best to pay in the local currency in Canadian dollars or CAD. It is widely accepted at hotels, retailers and local commutes. 

Which currency is mostly used in Canada?

The currency commonly used in Canada is CAD or Canadian Dollars. This currency is easily available in denominations of 5, 10, 50, 20 and 100 dollar paper notes. Coins in Canada circulate as cents.

Should I exchange money before going to Canada?

It is highly advisable to exchange currency prior to your trip. This can easily be done from a reputed online forex marketplace such as BookMyForex.com. A good tip is to carry money in a variety of forms such as foreign currency and a prepaid forex card. Both these products are available at BookMyForex at highly competitive rates.

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