Exchange Rates

[TimandJoyce 1]

#######! I should have waited until today to transfer my CAD to USD!!

yep! I'm with you on that one!! I did one not too long ago...about a week maybe..and at the time it was at .95 I told Tim, too, " I bet I should have waited for this..."

[Flames9_RN 358]

Waaaa, I exchanged a boat load a few yrs ago when it was in the .70 range,lol Wife asked why I did that, i satted iwas bored,lol Man she was ticked,lol

[Wyatt's Torch 45]

RBC (with the Access account) only takes 2% off of the exchange rate, which isn't so bad. So if the ACTUAL exchange rate is $0.99/d, you can transfer at $0.97/d. I transferred $500 a couple of weeks ago and only lost $22 of it. That's only five Starbucks lattes.

[CDAgirlMI 51]

I wouldn't be upset changing money if the dollar was anything above $0.90.

Yes, its better the higher the dollar is, but unless you have millions of dollars, its not that much less for a few cents.

$500 @ .90 = $450

$500 @ .95 = $475

$500 @ .99 = $495

Of course the more you have, the greater the difference a few cents would be. But its still not insanely drastic.

$50,000 @ .90 = $45,000

$50,000 @ .95 = $47,500

The numbers above obviously don't include fees/commission

Edited March 17, 2010 by CDAgirlMI

[Flames9_RN 358]

I wont even say what I transferred,lol too damn depressing now,lol Luckily now i just let my wife do the finances and investing! lol

[Sam and Ben 2]

Woohoo, now my backdated paycheques will be worth more.

[knnth 0]

So I guess it's a good idea to open a US bank account and start routinely depositing most of my income into it then? Assuming things go back to normal in the future?

[minnew 4]

yep! I'm with you on that one!! I did one not too long ago...about a week maybe..and at the time it was at .95 I told Tim, too, " I bet I should have waited for this..."

I already converted the big chunk of my $$, but really I did not have a choice in whether to wait or not at the time. The rate I got yesterday was .9711 @ customhouse which isn't too bad considering todays rate atm .09755. I only lost $12 CAD on the transaction.

[CDAgirlMI 51]

It touched PARITY today!

[SupportGeek 21]

It touched PARITY today!

Every economic analyst out there is indicating its going to surpass the US dollar, and stay there quite some time, many indications are years.

Look for parity or better this week.

[Tina&Roland 4]

We're going to transfer some of my CAD money this week! Got a pretty nice refund from my CAD taxes!

[TimandJoyce 1]

Every economic analyst out there is indicating its going to surpass the US dollar, and stay there quite some time, many indications are years.

Look for parity or better this week.

Sounds good!! I should check later to see how it is. We can always use another transfer...

*this house really needs some reno's!*

[Wyatt's Torch 45]

Yeah...I transferred $300 from my Canadian account this morning and was only dinged $6... Near parity has been great for me while I've been transferring money from Canada to the U.S., though in the near future, now that I'm working, it will be going the opposite way for my car loan. Other than that though, I'm mostly done with having to transfer money between countries. Woo!

[Udella&Wiz 325]

I forget what the rate was back on Oct 07 but it was very favourable for the Cdn dollar...I made money when exchanging wedding gift $$$ and money from bank accounts

[CDAgirlMI 51]

I forget what the rate was back on Oct 07 but it was very favourable for the Cdn dollar...I made money when exchanging wedding gift $$$ and money from bank accounts

It reached a high of $1.10 in November 2007.....lets hope for a repeat this year!!