C$ no longer on par with US$

[Bill4728]

For much of the year, the candian $ was on par or better with the US dollar. No longer. It now down about 20% off the earlier highs.

Today Oct-17 the US dollar is worth just under C$1.20

Granted the US dollar has improved against almost all the other currencies but since we visit Canada 2-3 times a year, I noticed this most of all.

 

[Chrisky]

I noticed. Not too pleased with that. Oh well, no cross border shopping for us until the $ improves!

 

[bogey21]

since we visit Canada 2-3 times a year, I noticed this most of all.

If you like the current exchange rate, you can buy a Canadian $$$ ETF (FXC, I think it is) and lock in the exchange rate. If the exchange rate goes up, you make money on your ETF and lose on the higher exchange rate. If the exchange rate goes lower, the value of your ETF goes down but you benefit from the lower exchange rate. This is simple to do if you have a brokerage account and buy and sell stocks

George

 

[Keitht]

The $C does seem to be weakening. When I checked the £ against it a couple of months ago it was around 1.90 dollars to the £ and it's now about 2.05. That needs to be set against 2.20 when we were in Canada a few years ago.

 

[falmouth3]

And the dollar is strengthening. When I was in Switzeland in May/June, the ATM gave me about 1 CHF for $1, maybe even a little fewer CHF per dollar. As of yesterday, the dollar seems to be about 1.13 CHF.

Sue

 

[Kola]

This is what the experts say

The outlook for the Canadian dollar looks bleak this week - see below

http://www.dailyfx.com/story/curren...dian_Dollar_Could_Slump_on_1224282871895.html

Austrailan $ could rise - see below

http://www.dailyfx.com/story/curren...alian_Dollar_Could_Rise_on_1224298998155.html

Swiss FR fundamentals remain favourable - see below

http://www.dailyfx.com/story/currency/chf_fundamentals/Swiss_Franc_to_Hold_Ground_1224298703427.html

K.

 

[pwrshift]

http://www.bank-banque-canada.ca/en/rates/exchange.html

Here's a site where you can check the daily rate fo the Canadian dollar. It's up to about 86 cents, showing some improvement.

 

[bogey21]

If you like the current exchange rate, you can buy a Canadian $$$ ETF (FXC, I think it is) and lock in the exchange rate. If the exchange rate goes up, you make money on your ETF and lose on the higher exchange rate.

Didn't realize it when I bought my Australian Dollar ETF but I get a rate of return on the ETF of about 6% paid monthly.

George