Now is a Great Time to Plan a Trip to Canada!

Politics and tariffs aside, now is a great time to plan a trip to Canada! U.S. residents took 1.8 million trips to Canada in October 2024 – and we’re on track to explore even more with our neighbors to the north. That’s because Canada is a fabulous destination brimming with beauty, culture, and history that is uniquely Canadian.

Why Now?

There is one really good reason why now is a perfect time to plan a trip to Canada: The exchange rate is at a two-decade high!

Exchange Rates are Up

Right now, exchange rates are the highest they have been in 22 years. Every U.S. dollar is worth $1.42 in Canadian currency.

Why does this matter? It means MORE bang for your hard-earned bucks. Americans using U.S. dollars gives them better buying power. A strong dollar will buy more goods when converted to local currency. And we can all use a little extra when we travel!

6 Tips for Getting the Best Deal

So what can you do to ensure you’re getting the best deal on your currency exchange? Here are a few tips to keep in mind:

1. Research exchange rates before you go

Monitor the exchange rate for a few weeks before your trip to get a good idea of the current rate and potentially time your exchange when it’s most favorable. Then, use an online currency converter to find the current U.S. Dollar (USD) to Canadian Dollar (CAD) rate.

2. Use your bank for currency exchange

Your bank likely offers better rates and fewer fees than airport exchange bureaus or hotels when exchanging money before your trip.

3. Credit card with no foreign transaction fees

Choose a credit card that doesn’t charge foreign transaction fees for most purchases in Canada.

4. ATM withdrawals

If you need cash, use ATMs within your bank’s network in Canada to minimize fees associated with foreign ATM withdrawals.

5. Avoid dynamic currency conversion

When paying with your credit card, always choose to pay in Canadian dollars (CAD) to avoid inflated conversion rates.

6. Consider exchanging small amounts of cash

While credit cards are preferable for most purchases, it’s useful to have a small amount of Canadian cash on hand for smaller transactions.

It’s A Great Time to Plan a Trip to Canada

Canada is a magnificent destination with nearly 4 million miles to explore. And with nearly 35% more buying power, your American dollars can help you see more of it!