the dollar is messing up my budget!

[laura001]

I have a US$ credit card so I have no choice but to pay it off in US If you've booked a room only reservation, maybe you can buy traveller's cheques and then pay off the room when you get there. I think you can also send in a money order or cheque but I've never done that myself so I'm not sure how it works.

I was just wondering if anyone had come up with a way of doing that and as I said, really no biggie for us. We have a cruise booked and then back to WDW after, I will just have to be happy with the savings on our "cash" portion!

 

[minnie56]

You can send a cheque or I am sure money order (I have a USD acct so have sent a chq once) ahead of your stay to soften the blow when you get there and when you can buy the $$ at a good rate. Just quote bkg# and ask them to apply payment to it.

 

[son3disfan]

Ok, I just had a thought...

I recall at CAA, they advertise Traveller cheques with no "fee", so I'm assuming that means what ever the exchange rate is, is what I get.
( unlike the banks who always add on at least 2 or 2.5% to the going rate).

So , could I change my Canadian money into traveller cheques at CAA, then deposit them into my US account, instaed of just exchanging money at the bank? Does that make sense?
I would save the exchange "fee"?
Anyone done this?

For a $6000 vacation, any little savings can add up.( would be a savings of $150 or so?)
What do you think?

 

[CdnDisneyNut]

I think that buying US travellers cheques or buying US cash in the end would cost the same.

Hope the dollar improves over the next couple of weeks. I think I have enough cash but wanted to get an extra couple hundred $.

 

[F4disneyfan]

Well rumours abound that we could see a slip of another 15 cents possible. Most are saying down to 75 cents over the next 4 weeks.

 

[laura001]

Well rumours abound that we could see a slip of another 15 cents possible. Most are saying down to 75 cents over the next 4 weeks.

Wow!!! Where did you see/hear/read this? I would be very interested in reading more about that.

 

[F4disneyfan]

Wow!!! Where did you see/hear/read this? I would be very interested in reading more about that.

The bank I work for the higher ups were talking about it yesterday afternoon. This is apparently coming from some of the economists in canada.

 

[petunia]

me too

 

[ktdaiwik]

Wow that is scary.The economist on the news here this am said he thought it would be around 94 to 96 cents so that is a big difference....

 

[laura001]

Wow that is scary.The economist on the news here this am said he thought it would be around 94 to 96 cents so that is a big difference....

That is what I have been reading also. Here is a forecasting chart that I found:


Canadian Dollar to US Dollar Currency Exchange Forecast
Canadian Dollars to One U.S. Dollar. Average of Month.
Month Date Forecast
0 Jul 2008 1.0131
1 Aug 2008 1.025
2 Sep 2008 1.016
3 Oct 2008 1.005
4 Nov 2008 1.006
5 Dec 2008 1.012
6 Jan 2009 1.032
7 Feb 2009 1.047
8 Mar 2009 1.059
Updated Sunday, August 10, 2008

Hope that helps!

 

[son3disfan]

Thanks for posting the chart, but .....
1.0623 is the rate today...so I think the prediction is pretty far off( I wish it wasn't!)

I agree with F4disfan..I think it's going back to what it once was.
But WHO KNOWS FOR SURE!!!!

 

[laura001]

Thanks for posting the chart, but .....
1.0623 is the rate today...so I think the prediction is pretty far off( I wish it wasn't!)

I agree with F4disfan..I think it's going back to what it once was.
But WHO KNOWS FOR SURE!!!!

I believe that they post it as an average for the month....and of course with a margin of error. We can only hope!

Am editing to add the Bank of Canada monthly averages for the past 5 months

Currency ISO 4217
U.S. dollar (noon) USD
Low[ high ] May 2008 0.99937143 CAD[ 1.00062897 USD ]
Average Mar 2008 — Jul 2008 1.00894232 CAD[ 0.99113694 USD ]
High[ low ] Jun 2008 1.01673333 CAD[ 0.98354206 USD ]
Date 1 USD -> CAD 1 CAD -> USD
Mar 2008 1.00202500 0.99797909
Apr 2008 1.01388636 0.98630383
May 2008 0.99937143 1.00062897
Jun 2008 1.01673333 0.98354206
Jul 2008 1.01269545 0.98746370
Aug 2008 Not available Not available

 

[bunnyfoo]

That is what I have been reading also. Here is a forecasting chart that I found:


Canadian Dollar to US Dollar Currency Exchange Forecast
Canadian Dollars to One U.S. Dollar. Average of Month.
Month Date Forecast
0 Jul 2008 1.0131
1 Aug 2008 1.025
2 Sep 2008 1.016
3 Oct 2008 1.005
4 Nov 2008 1.006
5 Dec 2008 1.012
6 Jan 2009 1.032
7 Feb 2009 1.047
8 Mar 2009 1.059
Updated Sunday, August 10, 2008

Hope that helps!

Thanks for posting that! It gives me something to think about.

Do you have a link for the chart that you can post?

 

[laura001]

Sure!

http://www.forecasts.org/cdollar.htm

and

http://www.bankofcanada.ca/en/rates/exchange.html for bank of canada which you can look up all kinds of info on.

 

[minnie56]

I am sure nobody can say for sure. I was in the Bank buying Euros the other day and asked my Banker what the odds were it would also get more favourable to buy? She laughed and said "if only I knew that I could be very rich!!" The 'powers that be" can surmise but really-that is all.