Why is the Canadian Dollar crap for international travel? (piefed.social)

submitted 1 month ago* (last edited 1 month ago) by SilentStriker@piefed.social to c/canada@lemmy.ca

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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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[-] msfroh@lemmy.ca 3 points 1 month ago

Do you think prices work like "A big Mac is 3", so it will be CAD$3 or USD$3 or 3€ or 3£, and that's what makes the Canadian dollar weak for travel?

Otherwise, I don't understand the question. Like, yes, 1 Canadian dollar is worth less than 1 Euro, but after conversion a lot of prices end up being similar. (Beer and cheese tend to be a lot cheaper in Europe than in Canada, but that has nothing to do with exchange rates.)