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Currency

The Canadian dollar, which is divided into 100 cents, is the currency of Canada. Canadian coins include the nickel (five cents), the dime (10 cents), the quarter (25 cents), the one-dollar coin known as the “loonie” and the two-dollar coin called a “toonie.” The most common paper currency bills are $5, $10, $20 and $50.

Important Notice: The Government of Canada is phasing out the penny. Since February 4th, 2013, pennies will no longer be distributed to businesses or financial institutions. For further information visit: www.actionplan.gc.ca/penny or call 1-800-O-Canada.

It is recommended, if you are moving to Canada, to bring some Canadian currency with you. There are foreign exchange offices at airports in Canada, if you are unable to get Canadian currency before you arrive.

For more information about currency exchange, see the Bank of Canada’s currency exchange converter at http://www.bankofcanada.ca/en/rates/converter.html.

 

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