Exchanging Foreign Currency

The US dollar is the only foreign currency that is widely accepted in NL. You can open a US dollar account in most banks. The US to Canadian dollar exchange rate changes a lot.

Exchanging Currency from Your Country of Origin

You probably will not get a good exchange rate for your international currency. It is better to exchange your money to Canadian dollars before moving to Canada or, if you already brought it with you, save it for future use if you plan to travel back to your country.

If you bring money from your country of origin to Canada in currency other than the US or Canadian dollar, we recommend that you exchange your money at your bank or credit union. Canadian banks accept most convertible foreign currencies for exchange.

Since not a lot of international banking happens in NL, the exchange process can take a few days. You should check with your bank or credit union to see how to exchange currencies other than US dollars.

You can check what your currency is worth in Canadian dollars online (for orientation only, the amount you will get in a bank for exchange will be different):

We have made every effort to ensure that the information in this Guide is accurate and up-to-date. If you find any errors or omissions, please contact us.

NL Newcomers’ Guide Table of Contents

Guide Section 4

Guide Section 5

Guide Section 6

Guide Section 7

Guide Section 8

Guide Section 9

Guide Section 11

Guide Section 12

Guide Section 13

Guide Section 14

The Association for New Canadians of Newfoundland and Labrador gratefully acknowledges the support of PEIANC for their permission to use their template in creating this guide.

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