Re: Exchange rate
 

BOC has indicated that interest rates will go up next month - this has pushed GBP/CAD down 2 whole cents.

Finally the bond market has told BoC that it can't pretend inflation doesn't exist. This means that it's now the bond market that is going to control interest rates available to savers and borrowers rather than the government (without further government intervention this will lead to better returns on savings accounts and falling house prices).

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I was expecting the interest rates rise too! Locked in my mortgage today 5 years at 3.89% before they deals start drying up! This rate could be a bargain in 2 years time!

Re: Exchange rate
 

http://www.guardian.co.uk/business/2...ators-currency

Seems there is talk of a run on the pound post election. I might buy a bit of GBP if there is.

Re: Exchange rate
 

"Hundreds of millions of pounds could be won or lost during Friday morning as bond traders and foreign exchange dealers attempt to second guess the election."

Thank god for the gift of democracy.

Re: Exchange rate
 

I am not innumerate, but I need this sort of thing in words of one syllable!
What does all this mean for those preparing to leave for Canada in the near future?
If you have assets in the UK such as property, should you hang onto it, perhaps rent your house out in the UK and rent one in B.C, or at least keep the funds in Sterling for the time being? Is the exchange rate likely to improve from the UK side of things if this 'run' happens?
I find the money markets a maze :confused:and I am sure I am not the only one facing this difficult decision. With property to sell here and buy in Canada, the Exchange rate is crucial for my buying power and it's been going downhill ever since I started on this emigration idea!
I see at the start of this thread, someone was complaining that the exchange rate had dropped to $2.25 to the pound:eek: I would sell my granny for that rate now:blink: Don't tell her, though!

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let me know as well i would be happy at $175.good question i would like the same anwser if anybody as it.

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Unfortunately there isn't a "right" answer to this and depends on the day and the poster as to what view you get on where the FX rate is going. So look at all factors involved in renting and work with the current FX rate.

If you can't get the $ you "need" at $1.55, are you happy with less or feel comfortable renting out your place etc. Lots more questions that only you can answer based on your situation.

The tough thing is that selling isn't something that happens in a day so you are going to have to ride the FX whatever your decision until the money is in Canada.

Re: Exchange rate
 

Is this the day we go below $1.50. £1.503 on the BBC site at the moment.

There are rumours of the Germans ditching the Euro, if that happens it's hard to say what will happen to the pound, but I susepct it will be seen as weaker.

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according to Cantor the £ is now below £1.50!!!

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and on the BBC 1.499. Looking back, it was only 2005 that you could get nearly 2.50, and in 1996 $2.60...those days will never come again (this side of Peak Oil), the Uk is in terminal decline.

Edited to add: This must surely be an all time low. I've gone back 15 years and it's never been this low.

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1.49 on xe.com. Dammit I bought sterling on the day after the election at 1.56!;)

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That's it, I'm selling up and buying my old house back at this rate!

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The change in exchange rate coupled with rampant house price inflation in my part of the world means that we could sell up here and move back with more than we came over with. That's not a position I ever thought we'd be in.;)

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Amazing isn't it. When we got married in the 90's the exchange rate was $2.60:ohmy:

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When I first visited NL in 02 the exchange rate was around $2.45. I spent money like a drunken sailor as everything was so cheap by comparison. Nowadays, I lament that the price of a pint here is more than the price of a pint back in Blighty.;)