The miserable US$ to C$ exchange rate
- Thread starter jackyo8193
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You're quite out of date, pal. The President is now at 48%. Only president's higher than him at six year mark post WWII are Eisenhower and Clinton.
Wait, do these exchanges have better rates than at bank ATMs? Until recently Scotiabank ATMs were free for BofA customers. Now there's a 3% foreign ATM charge. I always thought the rates were competitive, and never bothered to update my thinking. Is Calforex better?
Wolfie, ATM is the way to go, the only way to go. I got .809 this afternoon, plus a $3 fee at Desjardins. If you go to RBC, they will hit you with a screen offering to do the exchange for you and tell you the exchange rate they'll give you. If you say yes, they'll hit you for about 3%. THE ANSWER IS NO. Answer no, and you'll get the correct current rate as of last night's closing.
If you go to Calforex with cash, it will cost you about 1.5%
If you go to Calforex with cash, it will cost you about 1.5%
Thanks for confirming, rumple. With the exception of Argentina, I always found ATM's to be better deals, and I've always gone that route without bothering to update my initial analysis. Independent exchanges almost always have worse rates plus the fee, especially at the airport. Ironically, the airport provides the best cash exchange rate in Buenos Aires. But that's the only place I've ever seen that.
One more thing. Calforex is still a much better place to exchange cash than any bank. Lags behind an ATM by about 1.5%, about the same by which it beats a bank.
Understood.
BA was true on an absolute exchange rate basis, not just cash. Cash is typically always worse, as you noted.
I'd like to know what you're basing this on, given the utter long term unpredictability of the exchange rate.
That would be sweet, but I won't hold my breath. Somewhere I'm sure there's another analyst saying it will go back to 1.15. Meanwhile, the loonie has already lost another .004 today.
You might make it today. $1.279 right now, up .017 in the last two hours. :lol: I've been exchanging like crazy, maxing my ATM allowance over the last few weeks, but now I'm gonna hold out for a few weeks and let the tide keep coming in. I'm looking to gain about 100k myself if/when it hits 1.32.
Probably no connection to the collapsing Loonie, but this article propped up on communist news network this week. Seems to me like Canadians would need to be in midst of economic/currency crisis to ever fall for something like this (kind of like how TARP was implemented in the US a few years ago). I'd be more suspicious if social control legislation of various types started to be passed in Canada that was more in line with US. 
http://www.cnn.com/2015/01/26/opinion/martinez-kurtz-phelan-north-american-passport/index.html
http://www.cnn.com/2015/01/26/opinion/martinez-kurtz-phelan-north-american-passport/index.html
Communist News Network? The same one that gave the war criminals Bush and Cheney a total pass on their ill-fated excursion in Iraq? The same one that spent two years ignoring the news while devoted to what then President Clinton did with his pants down? Please.
Back when the war criminal/serial liar Bush's father had his little episode in Iraq, we used to refer to it as PNN, or Pentagon News Network, certainly considerably more accurate. Of course, CNN could take lessons in wing-nuttery from Faux News.
CNN, Faux news = 2 slightly different mouthpieces for same single authoritarian party controlled by elite class that owns practically everything. Maybe not communist by strict definition but surely in practice.
I would think they could put a floor under the Loonie if they desired to but maybe the Franc/Euro mess after the 3+ year fix is making it more difficult.
I would think they could put a floor under the Loonie if they desired to but maybe the Franc/Euro mess after the 3+ year fix is making it more difficult.
Huh??? I totally agree with your first sentence, which totally conflicts with your second. Are you confusing political systems and economic? What you describe in the first sentence is plutocracy, rule by the wealthy elite, the exact opposite of communism. Authoritarianism is political, not economic and has nothing whatsoever to do with communism.
Which brings an old question to mind: do you know the difference between capitalism and communism? Capitalism is the exploitation of man by man. Communism is the reverse.
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