Are You Hunting Around For the Best Canadian Dollar Exchange Rate?

If you are due to travel to Canada soon, you may very well be searching high and low for the very best deal on Canadian dollars. Around six or so years ago, the exchange rate between the British Pound and Canadian dollar was much higher than it is today. In fact, when I travelled to Toronto in 2003, I can remember getting a rate at the time of well over two dollars to the pound.

For some reason; probably a lot to do with the Canadian economy, it seems as though this rate of exchange has been on the constant slide ever since. Today, the Canadian dollar is often very close to that of the US dollar.

There are some people who believe that they will be okay to travel to Canada and rely on US dollars. This is a very ignorant mentality. You must remember that Canada is a separate country, in its own right; in terms of land size, it is actually hugely bigger than the United States. Many people simply do not realise this.

To find the best deal on Canadian dollars, as with all other foreign exchange transactions, it is important to shop around. Donít just accept the first rate you come across; compare several sources and keep an eye on the level of commissions you are being asked for.

The best Canadian Dollar exchange rate will be the one that is the highest; when youíre buying the foreign notes, but lowest; when youíre selling your foreign notes back for GBP.

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