Exchange rate
Mar 14th 2008, 11:54 am
#1036
spring is coming yeha
Joined: Oct 2005
Location: wasaga beach ont
Posts: 494
Re: Exchange rate
Regards Steve
Mar 14th 2008, 12:25 pm
#1037
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Location: Okotoks, Alberta
Posts: 461
Re: Exchange rate
WOOHOOO
It got there
It got there
Mar 14th 2008, 2:17 pm
#1038
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Location: Musquodoboit Harbour, Nova Scotia
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Mar 14th 2008, 2:20 pm
#1039
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Re: Exchange rate
Mar 14th 2008, 2:31 pm
#1040
Banned
Joined: Aug 2007
Location: New Caledonia
Posts: 1,810
Re: Exchange rate
Why not just deposit a UK cheque into a Canadian bank account? Banks have been known to negotiate rates when told what an FX broker has quoted and match it.
Mar 14th 2008, 2:57 pm
#1041
Forum Regular
Joined: Aug 2007
Location: Edmonton (so far)
Posts: 273
Re: Exchange rate
You can deposit a UK cheque into your canadian account but it can be held up to 30 days because it takes that long for your banking institution to get back to us and to clear the cheque. The other option would be to set up a Telephone/ Fax Agreement with your banking institution in the UK so you can request a Wire Transfer to your bank account here, there is most likely a charge on the UK end and CIBC will charge $10.00 CAD to accept the international transfer, but this would cut the transaction time down considerably.
BTW anyone know where to get the best deal right now for £2000 to buy CAD? BEST RATE I CAN SEE IS $1.95
Mar 14th 2008, 3:01 pm
#1042
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Location: Okotoks, Alberta
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Re: Exchange rate
based on my panic yesterday Halo spot rate is 3 cents off the interbank which is 2.014 right now not sure if that is amount dependant though, we were shifting a big chunk.
Cheers
Tom
Cheers
Tom
Mar 14th 2008, 3:27 pm
#1044
Banned
Joined: Aug 2007
Location: New Caledonia
Posts: 1,810
Re: Exchange rate
I have just asked the very same of my intended bank (CIBC) when we arrive, here's what they said:
You can deposit a UK cheque into your canadian account but it can be held up to 30 days because it takes that long for your banking institution to get back to us and to clear the cheque. The other option would be to set up a Telephone/ Fax Agreement with your banking institution in the UK so you can request a Wire Transfer to your bank account here, there is most likely a charge on the UK end and CIBC will charge $10.00 CAD to accept the international transfer, but this would cut the transaction time down considerably.
BTW anyone know where to get the best deal right now for £2000 to buy CAD? BEST RATE I CAN SEE IS $1.95
You can deposit a UK cheque into your canadian account but it can be held up to 30 days because it takes that long for your banking institution to get back to us and to clear the cheque. The other option would be to set up a Telephone/ Fax Agreement with your banking institution in the UK so you can request a Wire Transfer to your bank account here, there is most likely a charge on the UK end and CIBC will charge $10.00 CAD to accept the international transfer, but this would cut the transaction time down considerably.
BTW anyone know where to get the best deal right now for £2000 to buy CAD? BEST RATE I CAN SEE IS $1.95
Mar 14th 2008, 3:58 pm
#1045
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Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
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Re: Exchange rate
The situation just got a whole lot worse, it looks as if a big US bank (Bear Sterns) have gone tits up. Markets have been carnage today. 2 blokes from my old office in the UK got wiped out as a result. This is terrible news for the US, as a result i don't see the US$ improving for a considerable time. Therefore if CAD$ continues following we shouldn't see those sub 1.97 levels again for some time.
Chris
Chris
Mar 14th 2008, 4:44 pm
#1046
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Re: Exchange rate
The situation just got a whole lot worse, it looks as if a big US bank (Bear Sterns) have gone tits up. Markets have been carnage today. 2 blokes from my old office in the UK got wiped out as a result. This is terrible news for the US, as a result i don't see the US$ improving for a considerable time. Therefore if CAD$ continues following we shouldn't see those sub 1.97 levels again for some time.
Chris
Chris
Mar 14th 2008, 5:11 pm
#1047
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Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
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Re: Exchange rate
someone pressed the wrong button....basically this huge bank have just come out and said they won't exist on Monday. US$ getting murdered against Euro and £. I guess the CAD$ stopped following it for a while.
Chris
...basically this huge bank have just come out and said they won't exist on Monday. US$ getting murdered against Euro and £. I guess the CAD$ stopped following it for a while. Chris
Mar 14th 2008, 5:55 pm
#1048
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Re: Exchange rate
Mar 14th 2008, 6:52 pm
#1049
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Re: Exchange rate
I ask as I have lots of a UK bank share and have been pretty calm as it halved in value....but this may be the straw......
Mar 14th 2008, 7:39 pm
#1050
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Re: Exchange rate
They was a conference call this afternoon when they(BS themselves) said they probably won't exist on Monday. JP Morgan are keen to rescue them. The Fed lent them collateral via JP Morgan to tide them over today. There is an announcement of their results after market on Monday. They Fed are probably delighted this happened on a Friday at least they have the weekend to sort something out.
After this Citibank revised their calls on Fed Rate decision due Tuesday, they are now calling for rates to be cut by a full 1% (100 bp).
Chris
After this Citibank revised their calls on Fed Rate decision due Tuesday, they are now calling for rates to be cut by a full 1% (100 bp).
Chris