Online Guide for Newcomers to Prince Edward Island - Canada
Exchanging Foreign Currency
The US dollar is the only foreign currency that is widely accepted in PEI. 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 dollar 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 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 PEI, 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):