would you keep USD or exchange into CDN?

Apr 16th, 2016 10:47 am

#1

greg123 [OP]: Deal Fanatic; Oct 1, 2004; 6651 posts; 989 upvotes; GTA

Apr 16th, 2016 10:47 am

would you keep USD or exchange into CDN?

should probably done it when it was 1USD=$1.4CDN, but now its =$1.28CDN, should I be converting the USD I don't need into cdn? its purely for investment purposes, or should I just invest in US etfs?

Its almost like a double edge sword, if the cdn etfs go up most likely value of USD will go down...

Apr 16th, 2016 1:41 pm

#2

ukrainiandude: Deal Addict; Jun 15, 2012; 2837 posts; 1010 upvotes; Saskatoon

Apr 16th, 2016 1:41 pm

I personally would stay in USD and invest in US ETFs they also have lower MeR and simply for diversification , I trust your income in CAD

Apr 17th, 2016 1:56 pm

#3

Justin: Deal Addict; Oct 5, 2003; 3872 posts; 241 upvotes

Apr 17th, 2016 1:56 pm

Is anyone doing the opposite right now and converting Canadian to US dollars? 1 US dollar is now worth .78 Canadian. This is a good improvement from where we were a couple months ago.

Apr 17th, 2016 8:03 pm

#4

cn_habs: Deal Fanatic; Jun 3, 2009; 5440 posts; 1292 upvotes; Montreal

Apr 17th, 2016 8:03 pm

Justin wrote: ↑Is anyone doing the opposite right now and converting Canadian to US dollars? 1 US dollar is now worth .78 Canadian. This is a good improvement from where we were a couple months ago.

That's exactly what I am thinking given what happened in Doha today.

Apr 18th, 2016 12:03 pm

#5

Cerenity: Deal Addict; Dec 11, 2007; 1874 posts; 443 upvotes; Markham

Apr 18th, 2016 12:03 pm

Justin wrote: ↑Is anyone doing the opposite right now and converting Canadian to US dollars? 1 US dollar is now worth .78 Canadian. This is a good improvement from where we were a couple months ago.

I've converted twice from CAD to USD in the last 2 (or 3) months. Both times when it got to around 1.28.

My fair value target is 1 USD = 1.25 CAD so that's close enough for me. We have plenty more CAD to convert if it gets even better, but around 1.25 +/- a few %, I'm happy to turn CAD to USD and invest it in high quality reasonably valued US equities.

+1

Apr 19th, 2016 1:55 pm

#6

AFG786: Deal Addict; Dec 21, 2012; 2054 posts; 331 upvotes; Toronto, ON

Apr 19th, 2016 1:55 pm

cn_habs wrote: ↑That's exactly what I am thinking given what happened in Doha today.

All the predictions are saying USD will go back up with oil dropping. So heck, I'm going to keep my USD tucked.

Apr 19th, 2016 10:08 pm

#7

HRhater: Banned; Jun 5, 2012; 1418 posts; 497 upvotes

Apr 19th, 2016 10:08 pm

do bank employees really get a better currency exchange rate to brag about?

Apr 19th, 2016 10:22 pm

#8

deal_with_singh: Deal Expert; Feb 11, 2009; 19283 posts; 7765 upvotes; Toronto

Apr 19th, 2016 10:22 pm

HRhater wrote: ↑do bank employees really get a better currency exchange rate to brag about?

Yes, and stock traders get even better rates than bank employees through Norbitt Gambitt.

Apr 23rd, 2016 12:50 am

#9

wally_walrus: Deal Addict; Oct 19, 2007; 1753 posts; 632 upvotes; 45.467253°N, 75.5123…

Apr 23rd, 2016 12:50 am

Anyone has suggestions for investing USD in a RRSP or TFSA? Just want to avoid any tax implications, and I'm aware some TFSA investments in USD are tax withheld at source (the ones that pay dividends)

Thanks,