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

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Jul 16th, 2015 9:52 am

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Jul 15th, 2015 8:43 am

arandomguy [OP]: Sr. Member; Dec 26, 2011; 776 posts; 390 upvotes

Jul 15th, 2015 8:43 am

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

Jul 15th, 2015 10:57 am

MarcusXP: Deal Addict; Sep 21, 2007; 1731 posts; 52 upvotes; Toronto

Jul 15th, 2015 10:57 am

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.

Jul 15th, 2015 11:23 am

arandomguy [OP]: Sr. Member; Dec 26, 2011; 776 posts; 390 upvotes

Jul 15th, 2015 11:23 am

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.

Jul 16th, 2015 9:52 am

AvidSaver1: Newbie; Jun 23, 2015; 34 posts; 5 upvotes; East York, ON

Jul 16th, 2015 9:52 am

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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