Victoria BC Tourism
Lesson 1: Before You Leave Home
Currency
The currency system in Canada uses dollars and cents similar to the U.S. system. Canada has one and two-dollar coins, called the "loonie" and the "toonie", in addition to 1 cent, 5 cent, and 25 cent coins. The name "loonie" came from the picture of a loon on the coin. The paper money comes in different colors and designs. The most common are $5 bills (blue), $10 bills (purple), $20 bills (green), $50 bills (red), $100 bills (brown), and $1000 bills (purple). You may still see some old red $2 bills, which remain valid currency.
If you have $100 bills, it is best to have them exchanged at a bank for lower denominations. Many stores in BC do not accept $100 bills due to a recent outbreak of forgery.
U.S currency is readily accepted at all places of business. The US dollar is exchanged at a higher rate, so on the average (depending on the daily exchange rate) you would get $1.60 CDN for each US dollar. Financial institutions are usually the best place to exchange currency because storeowners are not always up to date on the exchange rates.
Print this page
Latest Articles