Re: Exchange rate
 

not been on for a while, lost track of this after we exchanged, to those yet to, my sympathies. just thought i'd share experience with HIFX though on a more positive note. they were very good, professional and quick, most importantly they offered the best rate, moneycorp, llyods, RBC etc all checked, it wasn't by much, but every little counts eh. its a big decision to transfer all your lifes monatary worth and watch it disappear into the electronic ether, but for us it was all good, and done by phone so no stress of having to sign, fax or scan documents. all the best, rae.

Re: Exchange rate
 

1.97

The delithium crytals l'no hold, cap'n!!!!


We're doomed, doomed I tell ye:curse:

Re: Exchange rate
 

For those looking to convert money soon it may be worth keeping a close eye on things in the next week or two.

http://www.theglobeandmail.com/servl...Story/Business

Still doesn't help with the oil price going nuts..

Re: Exchange rate
 

I was talking to FX guys i deal with this morning and while they think a small pop back to 2.00 is likely, they see the long term trend continued and are calling for 1.90. Bank of Canada decision is 2pm BST tomorrow.

Re: Exchange rate
 

back in the mid 80s it was around $1.47 so it would be naive to assume it cant go any lower than current levels

Re: Exchange rate
 

Talking to some FX traders in NYC(friend of a friend)...they both seem to predict in the next 12-18 months between 1.9 and 1.85 and between 1.15 to 1.2 between the CAD and USD.

Re: Exchange rate
 

Thanks for your comments about HiFX rae, I am glad to hear you had a good experience.

As for the Canadian dollar (and all other currencies for that matter!) the problem is no one knows what will happen and how low they will go. Last week the Canadian Dollar dropped below the psychological 2.00 level for the first time since March 2006, and the high oil prices combined with uncertainty in the UK have pushed this even lower.

The common question is obviously when should I buy or how long should I wait? The answer is really down to how much risk you are willing to take and how much can you afford to lose? Set yourselves an upper and a lower limit and work to a budget.

Of course there is always the risk that if you do buy now, the market could go up, but with house prices increasing in Canada you could end up losing out at both ends!

Remeber why you are migrating as well - new and improved way of life, fantastic opportunities etc.

If you have any quesitons or would like to discuss your situations in more detail then please dont hesitate to contact us.

Good luck!

Richard, HiFX.

Re: Exchange rate
 

Whoa, the Pound now is less than $2.00, how low can she go.:thumbsup:

Re: Exchange rate
 

Looks like its pushing up towards 2.00 again.

Re: Exchange rate
 

Canada has all the Resources that the world wants/ Needs, No Trade Deficit, Government posting massive surplus' and is paying down debt and reducing Taxes, along with Australia, we are currently in the sweet spot and a $1.50 to Pound would be great, would make visiting a whole lot cheaper.

U.S.A. is a Basket Case, Bush has been a disaster.

Re: Exchange rate
 

Yeah, that's what our resident financial guru Chris said would happend. Change it while you can..

I was talking to FX guys i deal with this morning and while they think a small pop back to 2.00 is likely, they see the long term trend continued and are calling for 1.90. Bank of Canada decision is 2pm BST tomorrow.

Re: Exchange rate
 

I question your motives posting on this web site. I would say that there are a very high percentage of people on this forum who are watching the fall of the pound to the Cd dollar with some anxiety, even with trepidation. Making comments such as that just alienate you from the rest of us. I try to ignore your drivel and put it down to some form of insanity but, hey! For all I know you're a great guy and good friend to your dog but for sh%^t sake keep your inane unhelpful comments to yourself.

Re: Exchange rate
 

Interesting times. More than just being a standard blip in the rate this looks like being a medium term trend and with our UK house sale still not completed ( :curse: ) I'm starting to think about options (like hunkering down in a rental for a year and hoping fortunes change on the exchange markets at some point).

Of course, the 10% or so that might be lost on exchange now might be made in Canadian property investment over 12 months if the red-hot property market continues the way it's going.

Decisions, decisions.

:blink:

Re: Exchange rate
 

Or if the Canadian property market is not red hot (see other threads on Calgary house prices as a specific example) - all may not be lost anyway. Friends moved out here last week - are 'losing' a lot on the exchange rate (compared to what they thought they would have to spend) - but got $50k off the price of the house they are buying. Swings and roundabouts?? Maybe?? :blink:

Re: Exchange rate
 

Indeed.

Something of minor interest -

Sterling: US Dollar, approx 1:2.04
Sterling: Canadian Dollar, approx 1:1.98
Canadian Dollar: US Dollar, approx 1:1.02

My maths may be a bit shaky but given the above you'd seem to get more out of doing a three way shuffle from Sterling to US to CA$ than you would from moving Sterling directly into CA$.

If you have the international accounts to support that sort of thing, of course.

Wonder why that is / if that is in fact the case.

:confused: