Tourist hot spots where the Canadian dollar goes way further than in the U.S.
Travelling may feel like more of a luxury nowadays, especially as the Canadian dollar hasn’t fully recovered from its dip since 2024.
It doesn’t help that the trade war continues between Canada and the United States, while the conflict between Iran and the U.S. has caused travel costs to increase due to fuel surcharges.
On top of that, passport fees continue to rise, alongside tourist and accommodation taxes, and immigration fees.
Knightsbridge Foreign Exchange President Rahim Madhavji told Daily Hive that while the loonie has remained low, the U.S. dollar hasn’t necessarily appreciated significantly, so this may not dictate whether you travel to the U.S. or not.
“If you want to take advantage of places where the loonie has actually appreciated, the overarching theme is not that the Canadian economy has done well or better; it’s more of a weakness in the other countries’ economies,” he explained.
Still, Canadian travel to the U.S. continues to decline, with recent data from the University of Toronto finding that the year-over-year drop in cross-border trips was 42 per cent between April 1, 2025 and March 31, 2026.
So, even though it may be more convenient to travel down south, why not go somewhere where the Canadian dollar will get you much further? As of Wednesday, C$1 is equal to 71 cents USD, according to XE, a foreign exchange tool.
Madhavji shared with Daily Hive a list of five countries where currencies have fallen, therefore making them cheaper travel destinations for Canadians.
View of Hagia Sophia in Istanbul, Turkey (thehakanarslan/Shutterstock)
He started with Turkey, a country that is experiencing economic instability and skyrocketing inflation.
“High inflation basically devalues your currency,” explained Madhavji.
The Knightsbridge Foreign Exchange president says the Turkish lira has experienced a 14 per cent decline. According to XE’s currency converter, C$1 is equal to â‚ş32.96.
“If you go there now and everything’s still priced in lira, then it’s 14 per cent cheaper to spend your money domestically, so that basically takes you the farthest,” he said.
Madhavji lumped countries with emerging markets like Indonesia, India, and South Korea together. They are all experiencing an eight to nine per cent dip in their currencies.
He explained that the appreciation of currencies depends on supply and demand.
Delhi City street view from Rajpath ‘King’s Way’ with India Gate in the background. (Amit kg/Shutterstock)
“Global investors have kind of felt nervous about those economies, relatively speaking, and money has flown out of that system,” he said.
That’s why the price of their currencies is falling, which Madhavji said will give Canadians basically a 10 per cent discount on purchases if they travel to these countries.
According to XE’s currency converter, C$1 is equal to 12,840 Indonesian rupiah, 68.24 Indian rupees, and 1,089 South Korean won.
Popular tourist destination Japan is also on the list. According to Madhavji, the country’s super-low interest rates are pushing foreign investors away, which is then causing the yen to fall.
Dotonbori in Osaka, Japan. (Jujumin Chu/Shutterstock)
The Japanese yen has dipped by around nine per cent, which means the Canadian dollar goes pretty far. According to XE’s currency converter, C$1 is equal to 115 Japanese yen.
Madhavji says, ultimately, these countries are all experiencing economic and structural issues.
“Canada has its own problems, but it’s just doing relatively better than those places,” he explained.
While there are many countries where the Canadian dollar has power, Madhavji said there are some places where Canadians will feel steep markups on their wallets.
He gave Mexico, Australia, and Brazil as examples, saying these countries have experienced 12 to 13 per cent appreciation in their currencies.