Canadians - Exchange Rate?

[tania7424]

Anyone have any predictions of it going back up? I have our spending money for October sitting in savings here and want to transfer it to my US account but don't want to lose too much. As it is I have to pay for our Halloween party tickets at the current rate.

 

[planningjollyholiday]

This is so hard to predict. In the last little bit our dollar was improving and was even at .93 cents a couple days ago. Today when I checked it was at .92 cents. I think it will hover at the .90 cent mark for a long time.

 

[Disneylover99]

I bought $600 American from the bank today. It cost me $665.70 Canadian.

 

[tania7424]

This is so hard to predict. In the last little bit our dollar was improving and was even at .93 cents a couple days ago. Today when I checked it was at .92 cents. I think it will hover at the .90 cent mark for a long time.

It was .94 at the beginning of the month. When I had the money already sitting there.

 

[valiamo]

I have found the best way, is to buy a limited amount of US$ every paycheque, and leave the money in a US$ account.

When the prices are going up and down, I adjust my deposit amount up or down. For the past 2 years or so, I have been putting away on average, $100 US a cheque and the lowest paid was .99 cents on the dollar, and the highest so far is $1.13, and everywhere in-between.

I sure wish I had bought way more when the dollar was in our favour, but alas it was a couple of tight months. I figure I have averaged out around $1.04 over all. If I had to get all my US$ money today, it is at $109.5, yikes.

If you figure out the exchange rate scheme, you would be one of the few.

 

[tania7424]

I bought it all yesterday. The Bank of Canada rate dropped again to .91xx and I couldn't handle waiting to see if it bounced back. We leave in two months. Watch it be .98 when we go. Oh well.

 

[SweetAlex]

Ugh. You're in the same boat as us. We paid for our trip right when the CAD dollar soared for about 3 days... good score! But now we're waiting on when to transfer to the USD account... seems to be hovering around 0.91 lately.

Dh is more up to snuff on this type of stuff and mentioned yesterday that they anticipate the USD to go up again soon due to a good quarter for them. You never know though what's going to happen... so frustrating.

 

[aristocat65]

It's way to hard to predict without a crystal ball. One one of our trips back in 2002 the dollar was worth about 63 cents, so hovering around 90 cents is still a good thing. That should make you all feel better

 

[tania7424]

Ugh. You're in the same boat as us. We paid for our trip right when the CAD dollar soared for about 3 days... good score! But now we're waiting on when to transfer to the USD account... seems to be hovering around 0.91 lately. Dh is more up to snuff on this type of stuff and mentioned yesterday that they anticipate the USD to go up again soon due to a good quarter for them. You never know though what's going to happen... so frustrating.

Gah!!! Don't tell me that!!

 

[CantSwim63]

Sorry but a lot (all?) of the Canadian corporations with significant USD expenses and maybe more credible most (all?) major CDN banks on their Q2 reporting and direction for the rest of 2014 are providing guidance of as low as 0.88 F/X for or by Q4.

But please don't bet the house one Internet person's research lol.

 

[MICKEYFIL]

If you have friends who work at a bank ask them to exchange it. Bank employees typically don't pay the exchange fee and get the rate at the current spot rate, usually saving one or two percent on the transaction.

 

[nervous1sttimer]

For anyone who lives near a border and has a local casino, try there for the absolute best rates. I live near Caesars Windsor and they offer great rates. I typically put cash into a slot machine or buy in at a card table, then cash out. When you go to the cashier, ask to be paid out in USD.

The last time I did this, banks were buying at .92. The casino was buying at .95.