This is a wise thing to do!
I lived in Canada for 40 years, and my main income from pensions (private and government) is Canadian. I live in Europe now, and to my chagrin I see the value of the CAD dropping significantly against the EURO, so not only am I impacted by inflation, but also by the dropping value of the CAD.
Paypal is a good way to circumvent this crap by the banks. I also use Paypal to move money between Canada and Europe (because those transactions are impossible to do on line through the bank).