Currency
The Canadian currency system uses dollars ($) and cents (¢) similar to the U.S., Australia and New Zealand.
Canada now has one- and two-dollar coins, often called the "loonie" and the "toonie," in addition to 1¢, 5¢, 10¢ and 25¢ coins. As in the UK paper money comes in different colors and designs. The most common are $5 bills (blue), $10 bills (purple), $20 bills (green), $50 bills (red) and $100 bills (brown). You may still see some old red $2 bills, which remain valid currency.
Most hotels, stores and restaurants will accept U.S. dollars, though sometimes at a lower rate than banks or airports. Large hotels will usually give you a rate similar to those at the bank. However, the British Pound will not be accepted in Canada, so it is always a good idea to convert some of your money to Canadian currency prior to leaving home.
Exchanging Currency in Canada
You can change money at any recognized financial institution, bank, trust company or currency exchange in Canada. Many stores, hotels and restaurants will also exchange currency, but often offer a lower rate than a financial institution. Be sure to convert some of your money prior to leaving home.
For information on currency exchange rates, check out the Bank of Canada's Currency Converter
