Exchange Rate

[Tiggs14]

I'm liking what I'm seeing...we're back up in the 97's

I was just reading Scotia Capital is predicting parity or better by mid year...that would make me a really happy as we're going to Disney for 2 weeks in August.

Anyone else closely watching the dollar debating when to convert Canadian to US dollars?

 

[Ted in Halifax]

I look at the Bank of Canada site every day .... noon trade 97.55

I have had discussions with a former boss of mine, a former economist and Rhodes Scholar .... he thinks the Canadian Dollar could outperform the US dollar in the near future due to inflation in the US. He said don't be surprised if the Canadian dollar cost 1.1 or 1.2 US dollars in a few years.

Who knows .... I've paid all my US bills! I'm livin with the 97 and loving it. Last march I think it dipped to .77

Ted

 

[squirrel]

I've been tracking it since my last trip.

I have converted $500 CAN so far.

 

[busyshrew]

Where do you find is the best place to buy US dollars (in actual cash)? We converted some at CIBC but the rate didn't seem favorable......

 

[Tiggs14]

We have a US dollar bank account and a US dollar Visa so we don't actually take out hard cash.

This won't help you but my husband works for Scotia a couple of the perks are a better exchange rate and free bank accounts. Our US dollar Visa is through TD as Scotia doesn't have a US dollar Visa.

 

[Ted in Halifax]

The real place to buy currency is from someone in a place that handles lost of cash, but not a bank. If you have a friend that handles cash as say a liquor store ... you can get if from them at PAR.

Otherwise you will be paying 1.04 to 1.07 at a bank!

 

[Ted in Halifax]

97.63 at noon today ..

More pixie dust ...

 

[Tiggs14]

97.63 at noon today ..

More pixie dust ...

It's too bad gas prices shoot up when the doller heads upwards! Other than that I'm liking what I'm seeing as paying for our trip goes!

 

[BitsnBearsMom]

I just exchanged last night and 1100US cost me 1148 Canadian! Have to love the good exchange rates
1 more sleep to go!!

 

[DaniB]

97.63 at noon today ..

More pixie dust ...

I just do not get that. I phoned Royal Bank yesterday after reading this. I was told the convert Canadian funds to US, it was at $1.049. When I asked about the .97 cent rate, he said that was to convert US funds to Canadian...

 

[rxs148]

Don't forget the 97 cent value of CDN $ does not take into consideration the profit margin for the banks....thats why there is always a difference between value and purchase price. Have you ever seen a bank not try to make profit.

As for Parity ... Can't see it... they said that a few months ago and it peeked in the 97 range and went back down. Too much pressure on our economy to push thru parity.... it could happen.

Personally any time its above 97 .. I buy if I have plans ...which we do Apr 22 to May 1st WOOHOO... see ya down there crazy canucks.

 

[AdmiralBenson]

Don't forget the 97 cent value of CDN $ does not take into consideration the profit margin for the banks....thats why there is always a difference between value and purchase price. Have you ever seen a bank not try to make profit.

As for Parity ... Can't see it... they said that a few months ago and it peeked in the 97 range and went back down. Too much pressure on our economy to push thru parity.... it could happen.

Personally any time its above 97 .. I buy if I have plans ...which we do Apr 22 to May 1st WOOHOO... see ya down there crazy canucks.

Good choice on dates! We're heading down for exactly the same time (April 22-May 1).

 

[DaniB]

I just exchanged $1,050 at $1.0461 for a total of $1,003.73 US.

Seems great to me compared back when I was a teenager and it was $1.40!

Dani

 

[mom_rules]

Good choice on dates! We're heading down for exactly the same time (April 22-May 1).

Aren't the Cheerleading competitions around that time also?

$1036.10 Cdn for $1000 US today through RBC.

 

[ash-n-brensmom]

Okay, I work with LOTS of cash...including foreign exchange, and this is how it works....the bank (Bank of Canada) starts with the rate of exchange on US...let's just say for easy figuring $1.00 US is worth $1.05 CDN...then they add a couple cents to make their profit when we exchange CDN for US...usually 5-7 cents added,which would leave you with $1.10 ish to buy US ....where I work we take the US to CDN rate and only add 5 cents to make up for our loss when we deposit to our account...so, if the rate says .97 you need to add the couple of cents that the bank adds..which leaves you with around $1.03 ish depending on where you are buying your US. TD just gave us a rate of $1.045...I would have done the exchange at work but didn't have time to get there and needed to get our draft written so I can take it today to the post office to send it out...because tomorrow marks 45 days!!! WOOO HOOOO!!!!