Foreign Cash in Stock
USD CAD exchange only!
USD & CAD accounts required
Call for details 1-888-666-5977
Mon. - Fri. 9:30am - 6pm
Sat. 10am - 4pm
Sun. 11am - 3pm
Foreign Currency Cash Available
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Deliver by Canada Post
Deliver to Canadian address only
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Deliver foreign cash to your home in 4 days
Online Exchange 24/7
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47,000+ Customers
200,000+ Transactions
300 Million+ Exchanged
Monday - Friday: 9:30 am - 6:00 pm
Saturday: 10:00 am - 4:00 pm
Sunday: Closed
(647) 812-2876
yonge.sheppard@currencymart.net
Parking is $4 for 30 minutes. We are at L1 level
Parking Entrance at Doris & Greenfield
Currency exchange is changing one currency to another for the purpose of travel, purchase or investment. According to a study of Bank for International Settlements, daily average was more than $6 trillion trading volume. Currency Mart acts as a counter-party to an off-exchange or an over-the-counter forex transaction of cash, financial instruments, futures contracts, options on futures contracts. Currency exchange is a decentralized market and operates 24 hours per day around the globe. London, New York and Tokyo are the three major currency exchange markets and followed by cities of Hong Kong and Singapore. Decentralized market means each currency exchange broker offers its own buy in and sell out exchange rates. The rates are determined based on the demand, inventory and supply of the particular dealer and also the interbank rates at that moment. That is why exchange rates at the same moment are similar, but different broker to broker.
Annually, about $600 billion Canadian dollars exchanged to other currencies, over 50% is changed to US dollar and Euro dollar is the second most wanted currency. RBC is the major player in Canadian foreign exchange market. With the other four major banks, banks count 90% of market transaction volume. In addition to banks, large corporations who deal with petroleum or grains conduct massive amount of foreign exchange transactions. Licensed brokers who serve retail clients and small businesses fill up the rest of market gap.
Since the city of Richmond Hill lacks the headquarters of a nationwide company, the customers of currency exchange business are local residents, small businesses and tourists.
In Ontario, about 60% local residents are new immigrants of recent 20 years. Same figure applied to Richmond Hill too. In addition, Richmond Hill attracts more and more new immigrants every year due to the geological location and affordable housing. These new immigrant and international students bring a huge amount of capital which needs to be converted to Canadian currency.
Logistics business and restaurants are 2 major customers of currency exchange business in Richmond Hill. These 2 businesses either have customers in the United States or import goods from the United States.
Toronto Pearson Airport is located in Richmond Hill and the hotels surrounding the airport make Richmond Hill the perfect choice for tourists to stay.
The exchange amounts from a few hundreds by tourists up to 100k by small business.
Exchange rate is updated every 5 minutes, 24 hours a day, 7 days per week. Each exchange rate comes with 2 expressions, which express the same rate in 2 different ways. Each expression is 4 digits accuracy.
USD CAD exchange is the most important trading currency pair in Canada. The particular currency pair can count up to 50% of transaction volumn for a Canadian currency exchange broker. For some province, the precentage is even higher. Currency Mart as a currency exchange dealer, we always keep USD currency in stock for customers demand.
A reputable currency exchange dealer is your best choice to exchange money, except those foreign exchange dealers in airports, hotel front desks and tourist hotspots.
Firstly these foreign exchange experts offer exchange rates better than banks. For a small amount exchange, not too much difference, but if the exchange amount is over thousand, the savings is more significant.
Secondly, these foreign exchange dealers keep foreign cash in stock, so customers can have foreign cash for travel right the way. On the other hand, banks and credit unions do not keep foreign cash in each branch, and take about 3 to 5 business days to bring foreign cash in.
Finally, most foreign exchange dealers take care of your leftover foreign cash by purchasing them back at the same rate as the dealers sold to you. This policy can save customers about 10% currency exchange loss.
Exchanging money at the bank is the option for a convenient and fair price.
Exchanging money at currency exchange is aiming for a better exchange rate. Please make sure you compare the exchange rate dealer by dealer before you conduct the exchange.
A currency exchange transaction can lose as little as 0.2% or as much as 4%, pending on the exchange amount.
For transaction amounts over $100,000, it is possible for customers to get an exchange rate as good as 0.2% spread. Oppositely, a $100 dollar exchange can cost customers about 4% of the exchange amount.