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Need to convert $2500 CAD to US today or tmw!

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Deal Fanatic
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Mar 19, 2010
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Need to convert $2500 CAD to US today or tmw!

Hey folks!

Got some money that I'd like to convert to Canadian dollars to put in my account. Am I better off going to a Currency Exchange place at the mall or my local RBC? Anything I need to keep an eye out for?

Currently .79 Canadian Cents = 1 US Dollar.
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Sr. Member
Jan 13, 2005
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Montreal
Said212 wrote: Hey folks!

Got some money that I'd like to convert to Canadian dollars to put in my account. Am I better off going to a Currency Exchange place at the mall or my local RBC? Anything I need to keep an eye out for?

Currently .79 Canadian Cents = 1 US Dollar.
Currency exchange (except at airports) are better than bank rates
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Mar 19, 2010
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jerryhung wrote: unlucky you, CADUSD is at highest in 9 months today
I know, right? I'm worried if I wait longer, it'll just keep going higher.
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Aug 16, 2009
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If you don't need the money immediately, hold on to it. Your really going to take a haircut regardless if you do it now or a couple weeks later.
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Apr 11, 2006
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Vaughan
What are you guys talking about? It was nearly $1.46 CAD at the beginning of the year.
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Aug 12, 2006
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smokescreen15 wrote: If you don't need the money immediately, hold on to it. Your really going to take a haircut regardless if you do it now or a couple weeks later.
Gotta say, this advice makes no sense. It's just as likely to go up a percent as go down a percent. It's easy to use hindsight. But predicting up or down ahead of time, not so much.
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Apr 11, 2006
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Never mind, OPs thread title is completely opposite his post. Geez people.
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Dec 21, 2012
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Said212 wrote: Hey folks!

Got some money that I'd like to convert to Canadian dollars to put in my account. Am I better off going to a Currency Exchange place at the mall or my local RBC? Anything I need to keep an eye out for?

Currently .79 Canadian Cents = 1 US Dollar.
I'd sell it to you for a bit lower than the bank. I'm an RBC customer too and located in Mississauga. I have a bunch of USD sitting in an account.

P.S. from what I'm being told USD will go back up according to what's been going on with Oil. No one can really be 100% though.
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Aug 2, 2010
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AFG786 wrote: I'd sell it to you for a bit lower than the bank. I'm an RBC customer too and located in Mississauga. I have a bunch of USD sitting in an account.

P.S. from what I'm being told USD will go back up according to what's been going on with Oil. No one can really be 100% though.
100%? More like you can't be more than 50% sure. The only thing you can be 100% sure about is that it will either go up or down.
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Jan 27, 2014
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You can be more than 50% sure. Middle of last year everyone knew the CAD was going down and down. In December or so there was news that CIBC and other banks predicted the CAD would fall further in early 2016 then start recovering in February or so. That's exactly what happened...
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Oct 23, 2003
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Currently the look is at 80 cents by fall, and some of the lower estimates stand around 77 cents.

Given the oil news out of russia that OPEC didnt agree on a slow down, and that Russia is gonna pump up more oil than before, and Iran is also refusing to play ball and sell to whomever it can, dont expect the CAD to shoot high up anytime soon.

The only thing thats a positive for the CAD right now seems to be a crappier outlook from the US housing market and overall economy, not something that is in Canada's control. 80 cents would be a good level to hedge some bets and buy some USD imo. Could do it now as well at 79, but i think 80 cents is achievable in the next few weeks.
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Aug 2, 2001
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Buggy166 wrote: Currently the look is at 80 cents by fall, and some of the lower estimates stand around 77 cents.

Given the oil news out of russia that OPEC didnt agree on a slow down, and that Russia is gonna pump up more oil than before, and Iran is also refusing to play ball and sell to whomever it can, dont expect the CAD to shoot high up anytime soon.

The only thing thats a positive for the CAD right now seems to be a crappier outlook from the US housing market and overall economy, not something that is in Canada's control. 80 cents would be a good level to hedge some bets and buy some USD imo. Could do it now as well at 79, but i think 80 cents is achievable in the next few weeks.
It's interesting - but there are some saying that China may be coming out of their manufacturing slump and increasing demand for resources. When the Russia/Saudi deal fell through, oil prices didn't really tank so there is a lot more to the situation than just their output.

(I read there is a strike in Kuwait causing major supply problems but I am sure anything socialist like a strike in the Middle East doesn't last long)
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Oct 23, 2003
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TrevorK wrote: It's interesting - but there are some saying that China may be coming out of their manufacturing slump and increasing demand for resources. When the Russia/Saudi deal fell through, oil prices didn't really tank so there is a lot more to the situation than just their output.

(I read there is a strike in Kuwait causing major supply problems but I am sure anything socialist like a strike in the Middle East doesn't last long)
oil did "tank" sorta. That caused the CAD pull back on thursday to 78 cents. Today, friday, it recovered a bit on some very small positive economic news in Canada. Its a bit of a see saw. Id still diversify some cash when the 80 cent breach happens. IF the US shows any signs of strength, they'll go on and raise the rates again, and hammer the CAD by proxy, regardless of oil price movement (which i think 1 of the more positive outlooks has it at $50 at the year's end).
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Mar 9, 2012
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kenchau wrote: What are you guys talking about? It was nearly $1.46 CAD at the beginning of the year.
+1 Well said
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Feb 20, 2006
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Anyone who thinks they can be "quite sure" of the future movement of USD/CAD (or any currency pair) at certain times is highly advised to simply put their money where their mouth is: you can trade currency futures which will leverage up your investment by 50x or more, so as long as you are right, you will be very, very rich in no time.

The fact that this isn't really happening is a pretty good indications that claims that CAD will "obviously" go this way or that way are pretty much worthless.
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ar2020 wrote: You can be more than 50% sure. Middle of last year everyone knew the CAD was going down and down. In December or so there was news that CIBC and other banks predicted the CAD would fall further in early 2016 then start recovering in February or so. That's exactly what happened...
Because it happened once means absolutely nothing. They were not more than 50% sure they were more than 50% LUCKY. Your comment is the most ridiculous thing I've ever heard
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Jan 27, 2014
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eonibm wrote: Because it happened once means absolutely nothing. They were not more than 50% sure they were more than 50% LUCKY. Your comment is the most ridiculous thing I've ever heard
Actually, your comment is the most ridiculous thing I've ever heard. It's called forecasting and these guys do it for a living. It's no different than weather forecasting. They're not right 100% of the time but they most certainly are reliable. You calling it lucky is a freakin joke. Please get a clue before you post nonsense next time.

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