Does Canada Have a Foreign Exchange Policy?

I have often wondered about the rates of foreign exchange for Canada. I know their money rates are normally a little less than that of the United States, but I am not sure by how much. I have heard that both Canadian and American money can be spent in Canada, but I have never been to Canada to find out. What is Canada’s policy when it comes to the foreign exchange of funds? I plan a trip there in the next two years and may stay there permanently. So, I need to learn all I can before I take my trip.