Should I convert my US dollars today?

[Romantic1]

I'm tempted to take a huge raft of US dollars I have and convert them to CDN today based on the dollar's amazing slide yesterday. I am not an expert and would love some feedback.

CDN dollar will probably not slide much more against the US dollar right, especially given the ominous warnings about the US economy right now.

Thoughts????? Thanks!

 

[robertpal]

u should dude when i was in toronto last weekend. it was 0.9 now it is 0.97

 

[Romantic1]

We're talking about half a mill I have in USD at the moment, so small fluctuations make a difference.

Someone advised me I should get out today before the weekend comes.

 

[J. Peterman]

If you have half a mill....................

.......you should not come here to ask for advice or take any advice you get on the internet. I suggest you ask for professionnal advice in this matter. Howerver, if you are in fantasy land, this changes the whole matter. The Ommpa Loomas are about to start the parade followed by neked MPs and SPs showering the crowds with free visit coupons. You could ask the Cheshire cat pulled along in the caboose of the Humperoni train. ( where you can jump on and off and sample many of the lovlies for free! ) The forcast for fantasy land today is clear purple skys with marshmellow clouds. I suggest take a newspaper taxi down the road with tangerine trees to see the girl with kaliedascope eyes. She gives a realy good BBJ!

 

[massagemansion]

I just bought about 50k usd to buy some shit in china. bought it at 0.96. this was yesterday. if u have, i still need about 10k-15k usd. today the rate is: 0.956 vs 0.999.

so yah, it looks like its closing in again.

 

[massagemansion]

.......you should not come here to ask for advice or take any advice you get on the internet. I suggest you ask for professionnal advice in this matter. Howerver, if you are in fantasy land, this changes the whole matter. The Ommpa Loomas are about to start the parade followed by neked MPs and SPs showering the crowds with free visit coupons. You could ask the Cheshire cat pulled along in the caboose of the Humperoni train. ( where you can jump on and off and sample many of the lovlies for free! ) The forcast for fantasy land today is clear purple skys with marshmellow clouds. I suggest you try the girl with calidascope eyes, she gives a realy good BBJ!

i have to admit, you are right peterman. We all here think with our dickheads and not brainheads. the best advice for 1/2 a mil is to spend it all on incalls/ outcalls and massages with me. lol.

 

[fb1807]

Currencies are cyclical

The US Dollar decline will take a breather next year, but the best Currency will still be the CDN dollar with a surplus and limited Bond issuance. The Euro is mostly backed by Germany and dragged down by the other countries. The UK is backed by Oil money, but has worse housing problems than the USA. The Yen was depressed by the rapid issuance of debt in Japan to save the banks from the 1990 bubble, but that has reversed dramatically this year, and the Yen may be the big gainer for the next year.

See

http://astrocycle.net/Currencies.shtml
http://astrocycle.net/CAD.shtml
http://astrocycle.net/YEN.shtml

Cheers

 

[Romantic1]

Thanks for all the suggestions. Much appreciated.

 

[Romantic1]

What's everyone's feeling now? Should I dump my US Dollars and get into CDN?

 

[rumpleforeskiin]

That being said they have a 50/50 chance of being right.

What, then, is their chance of being wrong?

 

[z/m(Ret)]

What, then, is their chance of being wrong?

No idea. Where's Eastender when we need him.

 

[pinkworm]

No. Morgan Stanley predicts Cdn $ to drop back to $0.94 mid-year. That being said they have a 50/50 chance of being right.

Not a lot of confidence in Morgan Stanley at the moment.

 

[montreal_monk01]

So...

So if we follow the recent years in Global Economy's logic,
When Oil goes up -> USD goes down
When Oil goes up -> UK Pound Sterling goes up
Since chances are that Oil will continue to go up in the next coming months
and that recession may be officially present in the US economy, shouldn't
we just swap our USD for some UK Pound Sterling?

 

[bumfie]

Talk about thievery. I walked into a bank here in the states and asked to buy $600 Canadian today. They asked if I was an account holder, and I said no.

So they computed and told me it would be $697 US to buy C$600! Mon dieu! I might be a species of idiot, but I'm not that many bricks shy of a bunker.

So I bought C$30 so I would have a little pocket money at the border. I got home and looked it up on the universal currency converter, and it told me the C$600 should have cost me $601 US. Still not good for Yanks, but a lot better than the criminal enterprise at the bank.

 

[Doc Holliday]

Talk about thievery. I walked into a bank here in the states and asked to buy $600 Canadian today. So they computed and told me it would be $697 US to buy C$600!

A couple of my buddies visiting Mtl from the States usually wait until they've arrived in Canada to exchange funds. A rule-of-thumb is not to exchange money in airports, hotels or shopping malls. That's when they'll literally rob you! There are many money exchange outlets along Ste-Catherine street (e.g. Califorex) and one of my buddies who's quite the penny pincher always goes to one in Chinatown. He says that's where he gets the best exchange rates in Mtl & he swears it's worth taking the time to go there.

 

[EagerBeaver]

bumfie,

If you need to get Canadian$ for US$ do it in Montreal, not the US. The Calforex on St. Catherine near University offers better rates than most of the other downtown exchange places and certainly better than the thieving rates you were quoted at that US bank.

 

[bumfie]

Good advice, EB. Thanks. I couldn't believe it when they told me that.

 

[bumfie]

I've also done an unofficial exchange with Cyrille the Spoon Man on occasion....after all, he usually has a ton of US coins to unload.

 

[johnthomas]

Canadien $

I normally get the best exchange rates when I take $ out of the ATM machine.

 

[bumfie]

I normally get the best exchange rates when I take $ out of the ATM machine.

That is what I normally do, John...but this is a "below-the-radar" trip.