Exchange Rate

[cabmom]

Hi, can't find the thread that was started before...today's exchange rate on xe.com is 1.229. Looks pretty good for anyone going soon!

Marilynn

 

[mom_rules]

Hey Marilynn-I'll help!

TD CT 1.2445
RBC 1.2457
SB 1.242
CIBC 1.242

 

[CharlesTD]

I just got 1.21 but I am thinking that is our staff rate at TD.

 

[Disney Fanatic]

I think its time to buy some US$$$ for your DVC purchase???

I hate gambling!!!

 

[mom_rules]

Looks like Thurs rate will hold-Canada Day and Fourth of July Holidays! Will see what happens on Tues.

 

[mom_rules]

Lookin' not to bad right now

TD 1.238
SB 1.25 (yesterday's rate?)
RBC 1.236
CIBC 1.2175

 

[Disney Fanatic]

Any advice.

Todays rate at RBC is 1.2377.

We are buying DVC and wonder if anyone know the money market well enough to offer advice.

Should we buy today or wait?

Thanks

 

[mom_rules]

I think there are too many factors to accurately predict where this is heading. Seems the hurricanes in the US are effecting the oil production which are making the US $ less attractive right now and with the policitical picture at the moment our $ is looking not too bad (it's been better).

TD is at 1.2385
RBC is 1.236
SB 1.235

Really anyone's guess. Is it possible to open a US acct and deposit $ a little at a time? Sometimes you win-sometimes not. Sort of evens itself out in the end.

 

[maryliz]

I just transferred money from my chequing to my US acct at CIBC -- paid a rate of 1.229. It was a little lower to transfer $ than to just buy some, which was 1.2375 I believe.

I was shredding some old bills on the weekend ... credit card bills from Feb 2003 when we went to Disney and I paid 1.63.

MaryLiz

 

[mom_rules]

Yes, it really is frightening when you look back a little ways-funny though-we still paid it for the privilege of going to WDW!

This morning we're at:

TDCT 1.229
RBC 1.222
SB 1.23
CIBC 1.21

Think I'll look into buying our tickets today-any recommendations?
Discount Orlando Tickets is looking pretty good.

 

[mom_rules]

Moving ever so slightly-

CIBC 1.21
RBC 1.2217
TDCT 1.225
SB 1.225

 

[mom_rules]

This morning

TD 1.225
SB 1.225
RBC 1.221
CIBC 1.202

I would have thought it would have been a little better this morning?

 

[mom_rules]

Just order my tickets-

Bank credit card is using a current rate of 1.209 + 2.5% exchange fee
= total of 1.459

 

[jgreen]

Just order my tickets-

Bank credit card is using a current rate of 1.209 + 2.5% exchange fee
= total of 1.459

A rate of 1.209 + 2.5% is a total of 1.239225, not 1.459.

I'm watching rates closely as well since I have a good deal of money in my Canadian account and want to convert funds and wire into my U.S. account back home.

 

[mom_rules]

Sorry-1.209 + 2.5% of the amount of the US purchase as the exchange service fee equates to 1.459.
Should have been more specific.

 

[peanutgirl]

Dear MOMRULES,
Is this how all credit cards work. Why would i use mine if it cost so much more than cash?

THANKS

 

[jgreen]

Sorry-1.209 + 2.5% of the amount of the US purchase as the exchange service fee equates to 1.459.
Should have been more specific.

It still does not work out to an exchange rate of 1.459. Let's say you wanted to purchase $10,000 U.S. At the exchange rate of 1.209, it would cost you $12,090 Canadian. Add 2.5% as an exchange service fee ($302.25 CDN) for a total of $12392.25 to purchase the $10,000 USD. This again equates to an exchange rate of 1.239225.

 

[jgreen]

Dear MOMRULES,
Is this how all credit cards work. Why would i use mine if it cost so much more than cash?

THANKS

No, all credit cards do not have this bad of an exchange rate, and I don't think mom rules' does either. Now granted, they will not give the most attractive exchange rates, but it won't be as bad as is suggested in the post.

I have worked and lived in many overseas countries during my career, and have used my American Express while living abroad as well as during many, many business trips, and have never had such a poor exchange rate anywhere.

If mom rules does in fact get charged an exchange rate as poor as she says, i would suggest that she change credit card companies. I'm not trying to start a flame war here, I'm just trying to be realistic.

 

[mom_rules]

You are correct-I forgot the "2" (or the girl at the CC company didn't give it to me) did the math then reconfirmed with another girl. The rate when all's said and done was 1."2"459 -Sorry don't know what I was thinking.
All CC companies charge some sort of "fee" - one of my cards is 2% but the base exchange is a little worse-the other is 2.5% but slightly better base.

I'll leave the exchange updates to jgreen in the future!
CYA

 

[briarberry]

The exchange rate is much better than last year at this time when we went to WDW! Last year was our first trip as a family (DD8 and myself) and we are both now hooked and heading back next month!
Yesterday I went and opened a U.S. account at our Credit Union and transferred $ from my savings into it. I plan to watch the rates and just put $ in when the rates are good. This way we will have our gas money and food allowance already in U.S. dollars. I already have paid for tickets and room.
I am sure we will be going next year and likely for many years to follow so this just seemed like a good way to save.
Does anyone else do this or have an even better way to save for Disney? I used the tip from these boards about saving change and we have over $300 Canadian to convert already! I told my DD she can have 1/2 since she has been adding her extra change too. She even put in her tooth fairy money!
Thanks again to all the wonderful tips about every aspect of travelling to WDW!

ONLY 37 DAYS UNTIL WDW