Re: exchange rate.. again!
 

I have found M&S to always be about 3 cents higher. I think I will change about £200 then use atm and credit card.

Re: exchange rate.. again!
 

Check with your CC and ATM card issuers as to what there fees are, ours were pretty steep (10gbp on $500) but we got a better rate after we said we would close our account and get the money paid direct to Canada. We couldn't have done it but it worked.

Re: exchange rate.. again!
 

Unfortunately, the hurricane catastrophe in the US which should have spiralled the dollar down against the GBP, has in fact increased it through increasing oil prices. We just can't win.

Re: exchange rate.. again!
 

the inter bank rate yesterday (xe.com) was up to $2.10 but today it has dropped more than 3cents! I bought in July at $2.14 and I was depressed for days (I could have had $2.40 in March but decided to hang on)

Re: exchange rate.. again!
 

My wife was too scared to make the fx deals when we sold our house last year. She made me do it, and I panicked changing all in one go at $2.42. It then rose to $2.50 and she wouldn't talk to me for days.

The rise yesterday was due to the BoE keeping IR's at 4.5%. However, the BoC has intimated that they will keep raising the IR in Canada into the autumn. Hence, it's back down.

Re: exchange rate.. again!
 

Irrespective of the US/£ ratio the Cad will I think remain strong for the forseable future. There is a lot of talk about the $2.00 barrier and everyone I have spoken to expects it to be broken and pushed short term to $1.90. That I guess is tourist rates of $1.80 (ish). The CAD Central Bank are not concerned short term as there is a lot of growth still in the market. When exports costs really hit home that might be the turning point. But the real measure is that with growth so low in the UK there is not a hope in hell of anything major in the £'s favour. We have all looked I expect at every site and every indicator is the same. They know more than us I guess.

Us - we got 2.08. Better than 2.01 at the start of the week. It's called evening out your loses based on an unkown future. 2.17 Heaven. 2.30 I would have cut my right arm off for. (Second thoughts its only money). 2.14 is I think tops for the next 6 months. But who knows?

My wife said at least in one week we have paid for a car we had not at the beggining of the week.

Hey Ho.

Re: exchange rate.. again!
 

Hindsight. If only they had told us we would live (medicals passed) we might have changed at 2.30.


Shit.

Shit.

Shit.

Re: exchange rate.. again!
 

LOL

Re: exchange rate.. again!
 

Came back from Canada a few days ago and huge article in paper on day I left. My reading if I remember correct that the CAN Dollar could almost equal the US dollar rate for us by end of the year, or within a few months!!!!!!! This is not good. We have about 6 weeks to complete on our house and then transfer with broker as soon as possible. If you use a broker, you can ask him to try and buy when a rate hits the minimum you would be prepared to buy, Usually within a month. My broker used to say that rates change by the minute. End of week was never good to buy but Mondays were!
We bought last year when rate was $2.5, and it was only at this for a few weeks.
If it drops significantly below $2.00 after we sell, we will instruct him to wait until it hits " or goes higher that 2.00 and buy buy buy!!. if he thinks there is a chance it may pop up to that at any time. It makes a huge difference when transferring such a large sum.
lets all hope that is the case.

Only good way to look at it, is if you have a mortage and have sold your house, it is one less mortgage payment you will be making. They are still predicting a fall in most house prices, some even say it may be a big one, so if you get what you want for your house now you may be grateful, if you find out a few months later that UK prices do crash, it wil lmake up for the cap exchange rate.

Re: exchange rate.. again!
 

You really have to put things in perspective. If you're looking to sell a house and buy one here, you have to consider that house prices here in Vancouver are rising by the minute, a bit like UK in the 80s.

Projecting currency rates ahead 3-6 months is absolutely pointless, even thinking about it.

If I had cash ready to move, provided I could still afford to, I'd transfer it now and benefit from a high growth of property value, as well as a plummeting pound.

Re: exchange rate.. again!
 

The story since May.

http://www.x-rates.com/d/CAD/GBP/graph120.png

Re: exchange rate.. again!
 

Thank you. I'm just going to slit my wrists.

Re: exchange rate.. again!
 

Don't mention it, just pass me the razor before you drift off.

The majority of our assets are tied up in Euros.

http://www.x-rates.com/d/CAD/EUR/graph120.png

Re: exchange rate.. again!
 

I do agree with you. In our case we are already property owners over there and have actually made quite abit of money on the exchange rate we paid and the huose we bought in one year we have saved / made £60,000.
Property prices rose between 12 and 25% last year, and we bought currency at 2.5%.

AS soon as we sell our house we will pass money to broker, and get him to buy at the best rate he can, if you have a week or a few weeks before needing the money it is worth leaving it to the broker to send at best time.
I have lost out at times by trying to be clever and predict the best time to buy.

Property is definatley on the up in BC with the Olympics looming, some areas are seeing a lot of building going on. Around where we are as well, we were told that many peices of land are being bought by builders to sit on, or people from Alberta! who are buying land now why prices are within reach ready to build on or sell in the future. They say it is safguarding theri future before Americans or Foreigners start speculating on land, as they have done in places like Spain, South Africa and Australia, especially the British, with equity in property here. land by the sea is almost impossible to get, and when you do it is ridiculous prices.

Property prices here in the Uk could also fall like the 80's so what you gain now on selling Uk house will make up for ehat you lose on exchange rate. Then invest there, and hopefully see your investment grow yet again , before others catch on, that Canada is a good investment and has lots of land!

Re: exchange rate.. again!
 

Spooky, I was discussing these two issues with my good lady wife this very morning.

The value of our house has risen about 25% since last August, so I would concur with your first point.

We have also decided to start looking at land in the Okanagan and on Van Island (Victoria) for our retirement.