Currency Conversion - Canada - TravelPUNK Backpacker College Student Budget Travel Message Boards!

karoshi · 05-02-2006, 12:30 PM

Where would I get a better exchange rate for converting Canadian to Pounds or Euros?

Should I change them here in Vancouver at
a) local bank
B) currency exchange places
c) airport

or in London at any of the above?

Looking for the best rates possible.
The Canadian dollar just went up to 90. YEA! Buying power.

**space virgin** · 05-02-2006, 12:33 PM

Don't do it here.

Wait til you get there and either go into a bank (a bit of a pain in the ass) or just use an ATM machine. The Bureau de Change is an *okay* rate but the ATM is way better.

xanthuos · 05-02-2006, 01:33 PM

Quote:

Originally posted by karoshi@May 2 2006, 03:30 PM
The Canadian dollar just went up to 90. YEA! Buying power.

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If I'm not correct, the Canadian dollar has rallied against the US dollar - NOT European currencies. So just make sure you have a realistic conversation rate in your head before you go over there.

**MolsonGirl** · 05-02-2006, 03:33 PM

I think the last time I checked it was at 2.1 or 2.2 to the pound...

www.x-rates.com

**tumblezweedz** · 05-03-2006, 01:08 AM

Generally ATMs give the best rate of exchange, but of course there are user fees... Not as much as the commissions at bureaux de change, though. I'd get some (maybe $100 - $200) worth of Euro and Pounds before you go, so that you have some cash for immediate needs - transit, food, etc. when you first arrive in country. If you can talk your way into getting change or small bills, so much the better, though probably a 20 is the best you'll be able to manage. That's okay, it's easy to get change once you're there.

This takes the urgency out of finding a bank machine when you are tired and swamped with tons of new information all at once. But that works too, in a pinch. I just don't like showing up with empty pockets - seems like I always need money before I can find an ATM.

**Canadian Dude** · 05-03-2006, 02:12 AM

Quote:

If I'm not correct, the Canadian dollar has rallied against the US dollar - NOT European currencies. So just make sure you have a realistic conversation rate in your head before you go over there.

Great point!

karoshi · 05-04-2006, 01:04 PM

If the dollar is equivalent in strength to the US dollar, does that not translate into a better rate of exchange against the Euro?

That was my impression anyway
but please do correct me if i'm wrong.

xanthuos · 05-04-2006, 01:24 PM

Quote:

Originally posted by karoshi@May 4 2006, 04:04 PM
If the dollar is equivalent in strength to the US dollar, does that not translate into a better rate of exchange against the Euro?

That was my impression anyway
but please do correct me if i'm wrong.

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Not quite...the US dollar has been steadily declining against the Euro for some time, since the US government is running such incredibly high deficits...so that means a worse exchange rate against the Euro.

As foreign governments, especially China, switch their foreign currency holding from USD to Euros...the dollar will continue to tank.