Traveller's cheques are a recommended form of currency when travelling (for safety reasons) and can be purchased at major Canadian banks. They are easily replaced if stolen or lost. Most shops, hotels, restaurants and attractions accept traveller's cheques as well as major credit cards.
The rate of exchange in effect on the day of a credit card transaction will be automatically updated on your credit card bill. Students can also apply for credit cards when they arrive in Canada; however, the expenses are due at the end of every month with interest charged on unpaid expenses.