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.

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.

Re: Exchange rate
 

What makes you say that?

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Hope and desperation??? (for the exchange rate bit)

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Us too. :(

Zoe M. x

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!):D

Re: Exchange rate
 

and us

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:

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Still, you were luck enough to have an amount to exchange in the first place. Your glass is indeed half full.

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....

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

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 ????

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Can't say I recall seeing them mentioned in the 2 and a bit years I've been lurking around here....

I will personally use one of the bigger and well known names that have already been suggested.

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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 ???

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Ah, OK, didn't look as you hadn't made it a link and I was too lazy to copy and paste it in :rofl: Still, they must be taking some kind of cut or commission else they wouldn't be doing it.....