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

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 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):

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Online Guide for Newcomers to Prince Edward Island, Canada © by Immigrant & Refugee Services Association of PEI (IRSA) is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.

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