It's weaker than let's say Pound Sterling or the Euro for example. But, does a weak CAD affect international travel towards Canadian travelers? Since they'll be paying more whilst abroad requiring CAD in higher amounts to exchange for larger sums of cash (like if 1000€ = C$1617 that alone is a steep hike while C$1000 = 618€ see the difference?). Also, when you travel: do you bring CAD or exchange for USD first prior due to that having a better exchange rate?

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[–] Alcoholicorn@mander.xyz 10 points 3 weeks ago (1 children)

Strength of the currency doesn't work like that, 1 Kuwaiti buck = 3.2USD, yet the median salary is barely a third of third of US salaries after conversion.
Instead of converting, you can:

Get a bank account that doesn't charge for international withdrawals and withdraw money from a foreign ATM (look up other foreigners experiences with the ATM, some, especially in europe are literal scams) your bank almost certainly has a better rate than any retail currency exchange.

Exchange a little currency, then use a CC with no foreign currency fee for anything that isn't cash only.

Wise Card. Idk, I've seen other foreigners use it.

Western Union, Money gram, etc, if you need the equivalent of a wire transfer, but don't have bank account in the receiving country. This is good if you need a big sum of local cash, say to pay rent or to buy a vehicle or something.

I keep a little USD in my shoe just in case, like 150 bucks. Only ever needed it to pay some embassy fees.

Where are you traveling to?

[–] Quilotoa@lemmy.ca 4 points 3 weeks ago

We use Wise card whenever we travel. Good exchange rates and it's been accepted everywhere cards are.