Exchange rate thread
#16
Re: Exchange rate thread
It seems the GBP is never going to have the strength it once had, and the natural value of the CAD is parity with the USD. While oil prices are strong the CAD will retain value, right?
My situation is complicated by a lot of my income coming from USD. It goes USD->GBP right now, and will be going USD->GBP->CAD soon until I sort out Canadian business, banking, accountants, etc etc!
Makes me sick when I think used to visit and exchange was 2.42. Could have bought a lot more house for our money, but then if it was just about what you can buy for your money would be moving to a different country.
My situation is complicated by a lot of my income coming from USD. It goes USD->GBP right now, and will be going USD->GBP->CAD soon until I sort out Canadian business, banking, accountants, etc etc!
Makes me sick when I think used to visit and exchange was 2.42. Could have bought a lot more house for our money, but then if it was just about what you can buy for your money would be moving to a different country.
#17
BE Forum Addict
Joined: Nov 2003
Location: Formally Scotland. Now Bay of Quinte...Ontario
Posts: 2,466
Re: Exchange rate thread
I'm in the same boat income wise. Fortunately I am reasonably healthy which has allowed me to take part time work. Not because I want too, quite enjoyed being 'retired' however, needs must.
#18
Just Joined
Joined: Feb 2010
Posts: 9
Re: Exchange rate thread
i,m selling the house in canada and moving back to uk,any ideas as to best place to go to ,to get best rates of exchange.
#20
Forum Regular
Joined: Dec 2004
Posts: 193
Re: Exchange rate thread
Hey JAJ, I am really surprised at your remark We're in exactly that position, having just sold our house and will be looking to exchange all of our money into GBP. It can make a big difference exchanging with the right bank. Or indeed would it be a bank
#21
BE Forum Addict
Joined: Aug 2007
Posts: 1,782
Re: Exchange rate thread
http://www.currencyonline.com/
Last edited by johnh009; Mar 1st 2010 at 1:11 am.
#22
Joined: Aug 2005
Posts: 14,227
Re: Exchange rate thread
Thanks for that, I guess there are some nice people in calgary , Its just shows there is a divide between people who make jobs and people who just have one. Its dead easy to throw insults, try employing hundreds of people and having there familys dreams resting on your shoulders and you might understand my post, until then keep doing you 40hr week and leave the finance isssues to people who undertand economics.
#23
Forum Regular
Joined: Jan 2010
Location: Calgary
Posts: 193
Re: Exchange rate thread
having said that... the most i have transferred is about $4k. not sure how it works with the kind of sums you're talking about
Last edited by david_oz; Mar 1st 2010 at 3:59 am.
#24
Forum Regular
Joined: Apr 2009
Posts: 116
Re: Exchange rate thread
I use Rational FX to make large regular payments on a monthly basis.
http://www.rationalfx.com/
They are often the live Spot rate plus 20 pips which is very good.
I tried Hi-FX and was not very impressed at all i am afraid, i gave them several chances to compete against Rational FX and they were miles out on each and every occasion.
I do the deal on the phone and Rational email me a confirmation, i then send them the money same day.
As soon as it arrives it is wired out in my new account and everything is sorted within 24-36 hrs max.
http://www.rationalfx.com/
They are often the live Spot rate plus 20 pips which is very good.
I tried Hi-FX and was not very impressed at all i am afraid, i gave them several chances to compete against Rational FX and they were miles out on each and every occasion.
I do the deal on the phone and Rational email me a confirmation, i then send them the money same day.
As soon as it arrives it is wired out in my new account and everything is sorted within 24-36 hrs max.
#25
Joined: Aug 2005
Posts: 14,227
Re: Exchange rate thread
Dunno, I see at least two real chances of that happening in the next year:
1. Tories win the election and they get at least a 'honeymoon period' where currency markets expect them to do something to get British borrowing under control. Possibly they do even manage to get it under control, though I can't see Cameron suddenly growing enough balls to do a Thatcher.
2. China tanks and the commodity markets go down with it, reducing the value of Canadian resources.
1. Tories win the election and they get at least a 'honeymoon period' where currency markets expect them to do something to get British borrowing under control. Possibly they do even manage to get it under control, though I can't see Cameron suddenly growing enough balls to do a Thatcher.
2. China tanks and the commodity markets go down with it, reducing the value of Canadian resources.
#27
Re: Exchange rate thread
I hear ya , I hear ya, our goal was to move to BC to have a family and grow a business, make jobs, we already have the big house on the ocean,so for us it was all about whales,bears,cougars,mountains,eagles and the great out doors, but when it comes to business I am ruthless and I wouldnt borrow money at these rates let alone give away my own to a bad exchange market, I understand that for most people when they are changing the value of a family home then its maybe only the differance of $15/20K at a poorer exchange rate but when your looking to invest in Canada then your looking at hundreds of thousands of $ and you have to ask yourself where is my money better to live ? in canada where its instantly worth 20% less than it was or just sleeping here in the UK, It would not be as hard a decision if canada still had cheaper goods and services but other than Gas & cars we are not seeing the differance we used to, it now cheaper to buy most thing in the UK in our mind.