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Sterling / Cad Dollar Exchange Rate

Sterling / Cad Dollar Exchange Rate

Old May 11th 2003, 8:13 pm
  #1  
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Default Sterling / Cad Dollar Exchange Rate

Hi, without requesting anyone to foretell the future, does anybody have a theory on why the pound to dollar rate is dropping so dramatically of late.

We are in the position that we have sold our house in preparation for the move to Nova Scotia this summer. We need to decide if it is worth exchanging the money now in the hope of catching the rate before it drops further or to put the money in a high interest rate account and wait for things to improve.

The waiting game is fine apart from the requirement to buy a house in Canada at some stage and the worry that the exchange rate will just keep sliding.

I realise that the dollar being strong is probably a good thing to all those of you currently in Canada but if you could let me have your thoughts on exchange rate I would really appricicate it.

Many thanks, TOM
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Old May 13th 2003, 8:00 am
  #2  
George Prager
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Default Re: Sterling / Cad Dollar Exchange Rate

Tom, unfortunately trying to guess exchange rates is a fool's game. It looks
like the Canadian dollar will go as high as 0.75 U.S. but that would reflect
more on the weakness of the greenback rather than the relative strength of
the loonie to the pound or other currencies. The sterling exchange rate now
is around 2.2 - my guess is it will go to about 2.0 or 2.1 but no lower.
That's all it is - a guess and mine is as good as yours....

One thing I have noticed, though, here in Canada. There are complaints when
the dollar slides (doom and gloom predictions in early 2002 when we were
down to about 0.6 U.S.) and equal complaints when it rises. (bad for export)
Go figure!

Best of luck to you

George
"TOMBEKS" wrote in message
news:[email protected]...
    > Hi, without requesting anyone to foretell the future, does anybody
    > have a theory on why the pound to dollar rate is dropping so
    > dramatically of late.
    > We are in the position that we have sold our house in preparation for
    > the move to Nova Scotia this summer. We need to decide if it is worth
    > exchanging the money now in the hope of catching the rate before it
    > drops further or to put the money in a high interest rate account and
    > wait for things to improve.
    > The waiting game is fine apart from the requirement to buy a house in
    > Canada at some stage and the worry that the exchange rate will just
    > keep sliding.
    > I realise that the dollar being strong is probably a good thing to all
    > those of you currently in Canada but if you could let me have your
    > thoughts on exchange rate I would really appricicate it.
    > Many thanks, TOM
    > --
    > Posted via http://britishexpats.com
 
Old May 13th 2003, 7:33 pm
  #3  
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Default Exchange rate

George, many thanks for that, I was thinking something similar although not wanting to admit to myself. I guess we will just have to make a call as soon as we have the cash in our hand.

Cheers TOM
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