Re: Exchange rate
 

hi

just thought i would let you know i spoke with moneycorp and hifix this afternoon as i have just registered with them.

both agents thought we would do well to see 2.25 more likley 2.0 , with their price coming in today at 2.18

this is for a small amount , and from reading before i understand the larger the amount the difference reduces.

Re: Exchange rate
 

The larger the amount, the more you need to worry about the difference in exchange rate, on say £50,000 the difference between 2.25 & 2.20 is enormous.

Re: Exchange rate
 

I was talking both, I was reading that Canada is second only to Saudi Arabia in the oil reserve stakes. But this includes the Alberta sands where the extraction/production is expensive and difficult in relation to the former. So I'm not sure why someone would give 2012 as a year for expected oil reserve depletion to occur.

If what you say is true why in the name of god am I landing in Ottawa when it's Alberta I should be heading.

Re: Exchange rate
 

Taken from the Telegraph website
"City experts yesterday warned that the Bank of England may follow yesterday's quarter percentage point increase in interest rates with another hike, as fresh figures showed one in three new pay deals is worth more than 4pc.............................Economists warned that there was an increasing chance that the Bank will lift borrowing costs again to 5.75pc, although this would become clearer next week after the publication of its latest Inflation Report."
So how would this effect the $$ per £?
Cheers,
Kenny

Re: Exchange rate
 

A lot longer than 2012. They have huge reserves (I am a geologist so not based entirely on fiction), but I think (and I could be wrong- I often am) whether or not they count as reserves at any particular time depends upon the price per barrel at the time, as oil is costly to extract from the sands. However as a secure non middle eastern supplier to the US I would think their (the oil reserves) future is fairly secure. I have however heard mutterings (from mate at Shell who was talking about gas) that Alberta (or maybe Canada) may put some sort of extra tax which makes the market insecure for them for investment

Gryphea

Gryphea

Re: Exchange rate
 

Here is a reasonable assessment.
http://en.wikipedia.org/wiki/Athabasca_Tar_Sands
Reserves depend upon ease/cost of extraction, so if new methods of recovery are devised instantly the reserves can go up instantly

Re: Exchange rate
 

if you have GBP£ to change into CAD$ you want either BOE to keep hiking rates or Bank of Canada to cut rates.

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Cheers gryphea, I've looked at Wikipedia for the info before but couldn't get an answer on the reserve depletion thing. Better handle on it now, as they say. Thanks.

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I can't see the province imposing a nasty tax. The feds, on the other hand, will tax anything they can. You are, of course, right about the price issue. The existence of the oil sands has been known about for ages. For many years they were just resources because the oil price was too low to make recovery economically viable. These days, recovery is most certainly a nice little earner.

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I believe you should act now, I don't think it would go above 2.3, it may go below 2.2 however, so I'd act quickly

Or else just exchange some of the money to minimize the risk

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I'd agree.

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i would agree with that aswell.

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And me.

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I can't stop peeking at this thread. Please help me. End it now ;)

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I am like a moth with a nice bright light......