Exchange rate
#1156
Forum Regular
Joined: Feb 2007
Location: London Uk- Halifax NS
Posts: 101
Re: Exchange rate
I need my funds by next May (09), I know nobody has a chrystal ball but what does anybody suggest. Leave my cash in the UK in a high interest account and ride the market, or exchange now why it is about 2$ ish and put it into a good fund in Canada.
When I looked the intest rates offered by Canadian banks seemed pretty low. I have my PR and I am looking to buy and move across in just over 12 months.
Thanks for any advice.
When I looked the intest rates offered by Canadian banks seemed pretty low. I have my PR and I am looking to buy and move across in just over 12 months.
Thanks for any advice.
#1157
BE Forum Addict
Joined: Jun 2007
Location: Musquodoboit Harbour, Nova Scotia
Posts: 2,549
Re: Exchange rate
You will probably earn more interest in the UK. Can't predict the exchange rate, but surely it can't get any worse over the next year.
#1161
Re: Exchange rate
What frightens me with this pair (CAD / GBP) is that it's not only the day, it's the time of day! The rate swings so wildly that if you change at midday, you could be kicking yourself at one O'clock! (or patting yourself on the back!)
#1162
BE Enthusiast
Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
#1163
BE Enthusiast
Joined: Jun 2006
Posts: 476
Re: Exchange rate
I need my funds by next May (09), I know nobody has a chrystal ball but what does anybody suggest. Leave my cash in the UK in a high interest account and ride the market, or exchange now why it is about 2$ ish and put it into a good fund in Canada.
When I looked the intest rates offered by Canadian banks seemed pretty low. I have my PR and I am looking to buy and move across in just over 12 months.
Thanks for any advice.
When I looked the intest rates offered by Canadian banks seemed pretty low. I have my PR and I am looking to buy and move across in just over 12 months.
Thanks for any advice.
#1164
Re: Exchange rate
You can get 4.75% with HSBC until May then 3.30% thereafter. It's low but at least you have your money exchanged into CAD rather than waiting and hoping. However we did the same thing at the beginning of march and got 1.967 for it to go back to 2 not long after. We were buying a house though which then fell through due to poor inspection so am kicking myself now but at least it's there well thats what i keep telling myself :curse:
#1165
Just Joined
Joined: Apr 2008
Posts: 8
Re: Exchange rate
Hello everyone. My name is gary and im in the process of moving over the Canada at the moment. Can anyone offer any advice on how the best way to exchange my money is ...? Is there anyone else with the same problem as me. ?
Thanks....
Thanks....
#1166
Re: Exchange rate
Hi gary
Your best bet is a currency exchange company such us uk forex, hifx, moneycorp etc; you will get a lot beter rate than your bank. If you look back at the 1st pages of this thread it is discussed in detail
Regards
Steve
Your best bet is a currency exchange company such us uk forex, hifx, moneycorp etc; you will get a lot beter rate than your bank. If you look back at the 1st pages of this thread it is discussed in detail
Regards
Steve
#1167
Just Joined
Joined: Apr 2008
Posts: 8
Re: Exchange rate
Thanks for that steve ...
Had a look over the net today and i cudnt decide which one was the best so i searched for web site that will compare them all to see who gave the best rate ........
I found a web site called.....currencyfinder.co.uk . Has anyone ever heard of them ???? I just filled out there online form today will let everyone know how i got on ????
Had a look over the net today and i cudnt decide which one was the best so i searched for web site that will compare them all to see who gave the best rate ........
I found a web site called.....currencyfinder.co.uk . Has anyone ever heard of them ???? I just filled out there online form today will let everyone know how i got on ????
#1169
Just Joined
Joined: Apr 2008
Posts: 8
Re: Exchange rate
There not a currency company !!! They do all the comparing for you and then your ment to be contacted by the company who gave the best exchange rate. They do comparsions with the likes of HiFX and Money Corp ... etc... who are you using now are what are there rates like ???
#1170
Re: Exchange rate
There not a currency company !!! They do all the comparing for you and then your ment to be contacted by the company who gave the best exchange rate. They do comparsions with the likes of HiFX and Money Corp ... etc... who are you using now are what are there rates like ???