Personal Finance

Foreign Exchange options? (one time USD->CAD, ~10k)

  • Last Updated:
  • Jul 16th, 2015 9:52 am
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[OP]
Sr. Member
Dec 26, 2011
776 posts
390 upvotes

Foreign Exchange options? (one time USD->CAD, ~10k)

I'm wondering what are some options to shop around for the best rate? Not a time sensitive transaction.

Knightsbridgefx

Everforex
Vancouver Bullion and Currency Exchange
3 replies
Deal Addict
Sep 21, 2007
1731 posts
52 upvotes
Toronto
Yeah I was told Knightsbridgefx is a good choice, although I haven't try them myself yet.
If not in a hurry, you may want to wait a bit with exchanging the USD to CAD.
With the interest rate decrease from today, we should see further depreciation of the CAD...
Please use "Reply with Quote" when replying back to my PMs.
[OP]
Sr. Member
Dec 26, 2011
776 posts
390 upvotes
Was actually doing prep work in anticipation of the rate cut since I missed the 0.78/1 mark way back in Feb.

Although I'm wondering if I should wait for the potential impact of a US rate raise as well.
Newbie
User avatar
Jun 23, 2015
34 posts
5 upvotes
East York, ON
Rates are at 6 year highs right now for USD/CAD touching over 1.29. It could very well go lower as CAD lacks a catalyst in the short-term. I don't see too much risk in waiting, September-December is when I think the monetary policies of two countries will be most divergent, as we could see the possibility of a fed hike and BoC cut.

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