The miserable US$ to C$ exchange rate
- Thread starter jackyo8193
- Start date
Anyone have any thoughts of how the US dollar will fare around Christmas time? Taking the kids on a 2 week Mexico holiday and will need US currency. Not sure how the markets will react when either of these to clowns win.
Hillary win definitely means more stability in the US dollar. Look at what happened with the British Pound Sterling after Brexit
every one gives a different rate when we convert us to canadian. the hotels are the worst, banks next than casino. the best rates are given by the street vendors . My credit card is the only one that uses the same rate as shown when I google us to canadian exchange rates. I wonder where the street vendors get the money? Why cant we go to the same place they go and get the correct exchange rate? Today the rate is 1.34 but there is no where I know of where you can get that. I saw the the CRA canada revenue agency uses the correct rate and they have an office at 305 Rene Levesque Blvd West but I dont think you can walk in there and exchange money?
Calforex is the closest you'll get to the actual exchange rate. I've gone there several times and their rate has always been 1 cent less than the published rate.
I think it's too early to make predictions. We'll know more next week once the US elections are over. If Trump wins, the Canadian dollar will likely surpass the US dollar within a year. Mark Cuban said in an interview a few weeks ago that a Trump win would be disastrous to the US economy and negative effects would be immediate. You want to destroy an economy? Just elect a phony billionaire who went bankrupt at least six times and screwed everyone he's done business with. Now we're hearing that the Trump Tower Toronto has also filed for bankruptcy and it's lawsuits galore with Trump and investors hurling lawsuits at one another.
When the cdn was at par with the US I convert part of my savings to US. I then wait a year or 2 (as in 2013) until the cdn plunge again and then pocket a nice % on the buy back (35% in 2015). Peanuts!
Cheers,
One of my uncles became an instant millionaire by doing this a few years ago. But he invested a lot of money in order to make it happen.
Foreign exchange rates depend much more on the relative levels of interest rates than on who happens to occupy the office of president or prime minister.
Yes but there might be some short term change that will even out. Coming to Montreal next week and hoping there is not a huge drop.
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