Exchange rate
Sep 15th 2008, 7:25 pm
#1501
BE Forum Addict
Joined: Nov 2006
Location: Nusajaya
Posts: 2,327
Re: Exchange rate
There's a rumour that the US may cut rates to 1%!!! That would normally not help the USD.... but what's normal about the times we live in today!
Sep 15th 2008, 7:30 pm
#1502
BE Forum Addict
Joined: Nov 2006
Location: Nusajaya
Posts: 2,327
Re: Exchange rate
I had to change up money today for our house purchase. I got 1.9028 from Moneycorp. I asked them about short to medium term rates, and they were predicting a decline to mid 1.80s. Not sure how accurate this will prove to be, as they usually sit on the fence when asked to give predictions
Sep 15th 2008, 7:41 pm
#1503
NEMESIS
Joined: Jun 2008
Location: Toronto (from Manchester)
Posts: 1,651
Sep 17th 2008, 7:22 pm
#1504
BE Forum Addict
Joined: Nov 2006
Location: Nusajaya
Posts: 2,327
Re: Exchange rate
Goodness..... up 4 cents today!
Sep 17th 2008, 7:33 pm
#1505
NEMESIS
Joined: Jun 2008
Location: Toronto (from Manchester)
Posts: 1,651
Sep 17th 2008, 7:37 pm
#1506
Forum Regular
Joined: Aug 2008
Location: Kamloops BC / Cheltonian
Posts: 232
Sep 17th 2008, 7:49 pm
#1507
NEMESIS
Joined: Jun 2008
Location: Toronto (from Manchester)
Posts: 1,651
Sep 17th 2008, 9:17 pm
#1508
Forum Regular
Joined: Aug 2008
Location: Kamloops BC / Cheltonian
Posts: 232
Sep 17th 2008, 10:33 pm
#1509
BE Forum Addict
Joined: Nov 2006
Location: Nusajaya
Posts: 2,327
Re: Exchange rate
I changed some around lunch time (for my welcome tax, long overdue, couldn't muster the 'begging cap' to the bank for a line of credit!), and 'lost' a couple of hundred by not toughing it out until the end of the day,
Sep 17th 2008, 10:47 pm
#1510
Moved from Chester UK
Joined: Oct 2004
Location: Calgary, Alberta
Posts: 387
Re: Exchange rate
Why did it go up today?
Sep 18th 2008, 1:11 am
#1511
BE Forum Addict
Joined: Sep 2005
Location: Windsor, ON
Posts: 3,374
Re: Exchange rate
It went up today because I changed $15k yesterday - called Sod's Law...
Sep 18th 2008, 9:14 am
#1513
Forum Regular
Joined: Aug 2008
Location: Kamloops BC / Cheltonian
Posts: 232
Every time!!
Sep 18th 2008, 10:30 am
#1514
BE Enthusiast
Joined: Aug 2005
Location: Was Brentwood, Essex Now Wasaga Beach, Ontario
Posts: 895
Re: Exchange rate
Sorry as you can imagine it has been mental this week.
There was a co-ordinated liquidity operation by all the major central banks this morning, this appears far from over.
This isn't because interest rates are too high, this is because banks refuse to lend money to each, there is no trust left. There are also verious stories of huge 'bear attacks' on stocks of the banks, basically they are accusing groups of shorting the hell out of stocks, spreading negative stories about those banks, causing the shareprice to collapse, making it impossible for the banks to raise further funds. Therefore the various central banks are stepping up to provide funding for everyone, how deep are their pockets, who knows??
Long term effects, the US government is going to have to print more and more money (M3) to fund these bail outs and that is very negative is the long term. Has anyone noticed none of the Canadian banks have been caught up in this so far?? If that continues then CAD$ will benefit massively.
There was a co-ordinated liquidity operation by all the major central banks this morning, this appears far from over.
This isn't because interest rates are too high, this is because banks refuse to lend money to each, there is no trust left. There are also verious stories of huge 'bear attacks' on stocks of the banks, basically they are accusing groups of shorting the hell out of stocks, spreading negative stories about those banks, causing the shareprice to collapse, making it impossible for the banks to raise further funds. Therefore the various central banks are stepping up to provide funding for everyone, how deep are their pockets, who knows??
Long term effects, the US government is going to have to print more and more money (M3) to fund these bail outs and that is very negative is the long term. Has anyone noticed none of the Canadian banks have been caught up in this so far?? If that continues then CAD$ will benefit massively.
Sep 18th 2008, 10:55 am
#1515
mclauchlan35
Joined: Dec 2006
Location: Was Prestwick Ayrshire, now Canmore AB.
Posts: 999
Re: Exchange rate
Sorry as you can imagine it has been mental this week.
There was a co-ordinated liquidity operation by all the major central banks this morning, this appears far from over.
This isn't because interest rates are too high, this is because banks refuse to lend money to each, there is no trust left. There are also verious stories of huge 'bear attacks' on stocks of the banks, basically they are accusing groups of shorting the hell out of stocks, spreading negative stories about those banks, causing the shareprice to collapse, making it impossible for the banks to raise further funds. Therefore the various central banks are stepping up to provide funding for everyone, how deep are their pockets, who knows??
Long term effects, the US government is going to have to print more and more money (M3) to fund these bail outs and that is very negative is the long term. Has anyone noticed none of the Canadian banks have been caught up in this so far?? If that continues then CAD$ will benefit massively.
There was a co-ordinated liquidity operation by all the major central banks this morning, this appears far from over.
This isn't because interest rates are too high, this is because banks refuse to lend money to each, there is no trust left. There are also verious stories of huge 'bear attacks' on stocks of the banks, basically they are accusing groups of shorting the hell out of stocks, spreading negative stories about those banks, causing the shareprice to collapse, making it impossible for the banks to raise further funds. Therefore the various central banks are stepping up to provide funding for everyone, how deep are their pockets, who knows??
Long term effects, the US government is going to have to print more and more money (M3) to fund these bail outs and that is very negative is the long term. Has anyone noticed none of the Canadian banks have been caught up in this so far?? If that continues then CAD$ will benefit massively.