Toronto on a budget: See more for less

updated 2:15 p.m. ET Nov. 26, 2008

TORONTO - With the U.S. dollar surging against Canadian currency, a vacation north of the border is suddenly affordable again. The U.S. dollar was worth $1.23 Canadian in late November, a comeback from a one-to-one exchange rate last year.

In addition to being a good deal, Americans headed to Toronto may also find Canada's largest city refreshingly hip, diverse and utterly cosmopolitan.

Here are some tips to help you explore the city known as "Tronno" or "T-dot" while saving those loonies (the colloquial term for Canada's $1 coin).

Getting around: Travel to the city's colorful neighborhoods on the public transit system known as the "TTC." A fare of CA$2.75 (US$2.23) allows you transfer between subway, streetcar and bus if you get a transfer (a slip of paper) when you first pay. Exact fare is required on buses and streetcars. TTC day passes for CA$9 ($7.30) or weekly passes for CA$25 ($21) are also available for unlimited travel.

And, instead of taking a costly taxi from the airport, take a shuttle bus for CA$13 ($10.55) to Union Station, Toronto's transit hub, which offers travel within the city, as well as to Toronto's suburbs and outlying cities and towns via the Go Trains and Via Trains.

Getting around by foot: Grab an InfoTOgo visitor map from one of 23 stand-alone booths located around the city. The maps are CA$2 ($1.60) from the booths and point out more than 20 tourist sites including historic locations and transportation stops. It's relatively easy to spend the day walking from Toronto's trendy and urban-fashion-forward Queen Street West to peruse its shops and underground culture, to Chinatown to grab some cheap eats, and then on to Yorkville to check out how the city's rich and famous shop and live.

The waterfront: Toronto's Harbourfront is an easy walk south from Union Station. This pretty lakefront region offers events year-round, with lots of ethnic festivals, arts programs, music, inexpensive food and ice- and roller-skating.

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Take the Queen Street streetcar, starting from Queen Street West (at Dufferin) to check out Toronto's, uber-cool, gritty hipster 'hoods all the way east to The Beach, a stretch of waterfront that's especially fun in the summer. In warm weather, take a dip in the tepid water, play pickup volleyball, stroll the boardwalk, or attend the free, annual jazz festival so big it shuts down the street each July.

View from the top: Although Toronto might be known for its view from the CN Tower (once the world's tallest building), it's an expensive view that'll put you back anywhere from CA$21-$40 ($17-32) depending on the tour package. There is an alternative. Head to the Panorama restaurant in the Manulife Centre located near the city's chic Yorkville neighborhood (Bay and Yonge Street). Grab the elevator to this romantic restaurant on the 51st floor and sip a Chardonnay as you take in the view.

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