About USD and CAD
US Dollar (USD)
The US dollar is divided into 100 cents and is used in the United States and several other economies, and many tourist businesses elsewhere quote prices in dollars. When a card terminal in another country offers to charge you in dollars, that is usually a dynamic currency conversion with a poor rate; choose the local currency instead.
Canadian Dollar (CAD)
The Canadian dollar is divided into 100 cents, with a one-dollar coin called the loonie and a two-dollar coin called the toonie. Displayed prices usually exclude sales tax, which varies by province, and restaurant tipping is typically 15 to 20 percent.
Exchanging USD for CAD
The rate above is the mid-market rate for USD to CAD. Banks, card networks and exchange desks usually apply a margin or a fee, so compare the amount you would actually receive. If a terminal offers to charge you in USD instead of CAD, decline: that conversion normally uses a worse rate.