Should I exchange money when visiting Niagara Falls for 2 days or just use American dollars?

Question

Just wondering what's the best thing to do these days ... on the Niagara Falls official web site it says the American dollar gets a high premium in Canada now, but I don't really know if I believe that, since pretty much everywhere else the dollar is doing poorly right now.

Answer 1

Due to the fact that our money is at par. Do not exchange your money. Your money will be worth less granted you will have american money but everywhere in the falls they accept american and you won't loose on your money. I live in the falls on the american side. I have seen the decline over the past 10 years you used to give them $100 american they would give you $150 canadian. It used to be worth it to cross over and exchange instead of use american money. Now you give it to them somethimes you loosed money on your dollar.

Answer 2

Just use your american money.  The exchange rate is about even right now, but if you go to a bank they charge a service fee to exhange it.  An earlier answer said to make sure you get your change in US currency.  That probably won't happen unless you demand it, so expect to have Canadian money in your poket after a couple of hours.  Just spend that and you won't have to even think about it.

Answer 3

American dollars will work fine in Canada.

Answer 4

1 U.S. dollar = 0.992299754 Canadian dollars

use u.s dollars.

have fun!!

Answer 5

you can use american dollars but don't expect anything back as now adays it is at par

its been that way for awhiel ..you can go to xe.com

for awhile now I do not know any canadian stores giving back an exchange for american money

Answer 6

It really does not matter with the dollar being almost the same these days. Each venue may set their own exchange rate, and NO ONE gives american change back! It will be accepted everywhere though.

Answer 7

yes its true....

Answer 8

Very few places in Canada will refuse to take American money - in fact I don't know of any. Canadian Chartered Banks make it very easy to exchange either way. Businesses and cab drivers will not all give exchange but at the rates today that does not amount to anything much anyway.

If you have Canadian money on you before you return, especially if you are going well beyond the border, you would be well advised to exchange it before you go. Except for border towns, even a Canadian penny will be tossed back at you in the States.

Answer 9

Very few places will give you change in American. Also, each business can set the exchange rate at whatever they want.   The best rate of exchange will always be found either through a bank, or through an exchange place that offers the bank rate.  

Yes, everyone accepts American $, but they don't have to give you a good rate of exchange.

Answer 10

now the exchange rate is about 1:1 so use american, it will be fine

Answer 11

I went to Niagara Falls in 1999 and they loved my American dollars. The only thing you need to be careful of is making sure that when you purchase something with your American dollars, that your change is also in American dollars.

Anyone that tells you to exchange it simply doesn't know what they are talking about.

Answer 12

That high premium is now gone due to the declining US dollar.  Other people here are right about either currency being accepted.  However, since each merchant can set their exchange rate as good or bad as they want, you will very likely end up paying more for anything by refusing to change some money into Canadian.  Some merchants I've seen took as much as 5% for themselves as an exchange "fee".  As an American going into Canada, I always made it a point to exchange money, many times making it the first thing I did after crossing the border.

It is true that banks give the best exchange rate by taking the smallest percentage off.  The banks in NF aren't as big on you needing to have an account in order to do it.  However, if you find yourself needing money exchanged after hours, there is another alternative.  The casinos in the NF area give a competitive rate of exchange since they want you to "spend" your money with them.  Those mall and Ontario tourism places places chop between 3-4% off the rate while the casinos are in the 1-1.5% range.  It doesn't sound like a lot.  However, it can add up if you exchange hundreds or thousands over the entire time of a trip.  If you get free parking at a casino (usually for signing up with their free slot club) the trip to exchange your money might save you even more.

Answer 13

I visited canada a few times recently and I always try to use my visa debit card.  For instance last fall my hotel stay was 250.00 and my card statement only showed 230.00 or so.  That was a nice surprise along with many other small charges for food and stuff, all less than expected!

Answer 14

You can use American dollars however you may get a better rate from you bank.  Check with them first.  Have fun!  Cheers~!

Answer 15

change a little amount of money

just in case

cuz you don't know whenever are you going to need it

Answer 16

exchange it will be easy-er