Best exchange rate (US to CAD)


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cimmigrant   
Member since: Oct 04
Posts: 51
Location:

Post ID: #PID Posted on: 11-05-05 22:54:28

Friends,

I am currently in the US. Will be finally moving to Canada (Toront) sometime next month.
Has any one used xe.com? I guess this is one site which gives better rates than most of the banks. Does anyone know other reliable sources (banks etc) which can offer better rates.

Thanks!



sudesingh   
Member since: Jul 04
Posts: 2085
Location: Toronto

Post ID: #PID Posted on: 12-05-05 16:04:04

Try the State Bank of India (Canada). Their rate is usually better than the big 5 banks.

BTW these days CND is weak so this the right time to exchange US to CND. You should get around 1.24


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SS
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cimmigrant   
Member since: Oct 04
Posts: 51
Location:

Post ID: #PID Posted on: 12-05-05 19:00:43

Thank you for the advice SS. I will surely call SBI (Canada) and talk to them.

XE.COM specifies today's rate as 1.25. Any idea why the CND is going down. Is it advisable to hold USD for some more time.
Is there any website where I can get a graph of USD vs CND for the last year.

Thanks in advance for your help.



sudesingh   
Member since: Jul 04
Posts: 2085
Location: Toronto

Post ID: #PID Posted on: 12-05-05 20:21:48

Quote:
Orginally posted by cimmigrant

Any idea why the CND is going down. Is it advisable to hold USD for some more time.
Is there any website where I can get a graph of USD vs CND for the last year.

Thanks in advance for your help.



The CND is going down 'cause of the political uncertainity, and the chances of an election soon.

As regards holding off, it's a gamble. The current rate of 1.24/1.25 is probably the best in the last 6 mths or so. Ultimately it's your decision




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SS
Reiki Grand Master


cimmigrant   
Member since: Oct 04
Posts: 51
Location:

Post ID: #PID Posted on: 12-05-05 22:15:24

Thank you for the valuable advice sir.





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