Gosh darn loonie...........
Jan 19th 2016, 7:41 pm
#31
Dive Bar Drunk
Joined: Nov 2006
Location: Toronto
Posts: 8,649
Re: Gosh darn loonie...........
It depends how much. If it's a small amount, best to keep it in the UK as a travel fund. Look forward ten years at the kind and amount of UK expenses you may occur. If it's a large amount, then the 'excess' beyond a reasonable travel fund could be converted now into $ at good exchange rate.
I generally think of 2.00 as the benchmark and anything above a gain anything below a 'non-gain'. In fact, the 25-yr average is 2.05 but 2.00 is a nice number and reflects more recent levels.
So at current rates, you will get good value for your pounds converting into $ which can then sit collecting dust in Canada, until such time as you wish to use them. If you do need to convert back into £ in some years time, you may find that the $ has strengthened and that you will make a small gain.
I generally think of 2.00 as the benchmark and anything above a gain anything below a 'non-gain'. In fact, the 25-yr average is 2.05 but 2.00 is a nice number and reflects more recent levels.
So at current rates, you will get good value for your pounds converting into $ which can then sit collecting dust in Canada, until such time as you wish to use them. If you do need to convert back into £ in some years time, you may find that the $ has strengthened and that you will make a small gain.
The natural rate always seemed to be 2 to 1 to me any way in terms of what you can buy for the money in most items.
We'll be close to 2.3 by the end of the year. I may move my money from the UK then although I've never really needed it.
Jan 19th 2016, 9:13 pm
#32
Proudly Scarberian
Joined: Aug 2014
Location: Scarberia
Posts: 2,196
Re: Gosh darn loonie...........
You should buy a pub. And make sure there are scotch eggs on the menu.
