The miserable US$ to C$ exchange rate

[Bred Sob]

That may not be the nicest thing to say, but I kinda enjoy the sight of Russians and Saudis at each others' throats. I won't mind if that goes on for a while.

But, of course, if our favorite Montreal ladies start accepting payment in U.S. currency only, that will change things drastically.

 

[ShyMan]

Wow. It's CND 1.40 today.

 

[Dave in Phoenix]

Wow. It's CND 1.40 today.

Even worse for you but great for me... down to about 69% for us in the US like it was down around .63 when I first started by annual trips to Canada about two decades ago.

Sadly.... I just had to cancel hotel and air to Montreal I had planned for seven days due to the travel ban etc. Hopefully for me.... once I can return - which I don't expect till Summer, I will still have the big exchange advantage.

 

[IamNY]

$1.45 today. At this rate my vacation will cost nothing.

 

[jalimon]

It's like having gaz at less then a dollar per liter. Haven't' seen that in 20 years. Problems is we have nowhere to go!

 

[ShyMan]

Problems is we have nowhere to go!

Yep, ironic and sad. It could even hit CND 1.50. After the world returns to some normalcy, we will all appreciate life more dearly. Let's hope we all come out of this global crisis kinder. Maybe more Americans will visit Canada after we come out of the woods. It's time to stock up on CND for Americans.

 

[pokerpro]

Wow! That’s a great exchange rate! Too bad I can’t cross the border right now.

It's a good occasion to go to your american bank and buy some canadian currency ! You will get a great rate for your next vacations or can even make profit doing currency speculation. If you buy lets say at 1.45 and repurchase your us currency in 6 months at 1.35 you will make a 10% profit .

 

[Dave in Phoenix]

I tried ordering via my bank $CDN last trip to Toronto but the markup was terrible vs. getting in Canada via ATM, although different Canadian bank ATMs had different markups or found one (forget who) which was the real exchange rate without markup. I plan to return as soon as flights are allowed and things return to normal and hope to do both Toronto and Montreal for about 7 days each sometime this summer. But as it looks like now it may not be till Summer of next year

 

[IamNY]

Exchange is at $1.40 today. Any thoughts on if it will get better or worse in the coming weeks anticipating the border being open?

 

[EagerBeaver]

Not that we can take advantage of it, even if it goes to $1.60 like summer of 2002, there is nothing we can do about it.

 

[IamNY]

Maybe so, but if I have a grand or two burning a hole in my pocket I might pull the trigger at $1.50 so when the time comes I ready.

 

[bouboule]

The second the pandemic is over or their are rumors of a vaccine you ll see the c$ go back to 1-30..
The world is using the us$ as a safe heaven for some reason...
Also with the China /us conflict if the Chinese decide to dump their us$ the us $ will drop to much below 1:30
My opinion..studied in the field..

 

[IamNY]

So then I'm buying loons if/when they hit $1.45!

 

[jalimon]

Also with the China /us conflict if the Chinese decide to dump their us$ the us $ will drop to much below 1:30

That is one important sentence here. Does China really holds the US by the balls because of their vast US cash holding?

 

[IamNY]

That is one important sentence here. Does China really holds the US by the balls because of their vast US cash holding?

Pretty much, yes.

 

[donbusch]

When u owe the bank a million & can’t pay, u’re in trouble.
When u owe the bank a Trillion & can’t pay, the bank is in trouble.
Just something to think about in terms of the creditor-debtor relationship dynamics.

 

[ShyMan]

It looks like the US$ vs CND has achieved some "equilibrium." It's now trading at US$1 to CND1.27. I wonder what's causing the "correction".

 

[RobertNYC]

It looks like the US$ vs CND has achieved some "equilibrium." It's now trading at US$1 to CND1.27. I wonder what's causing the "correction".

Exchange rate tends to have some correlation with oil prices. I think we’ll see greater parity in weeks and months ahead. Interesting read above on US-China relations.

 

[ThunderLipps]

Got $100 US on Friday for $141 CAD, pitiful.