Loonie may go back to 1.28 speculation....

[deedubb]

I think the dollar was over .77 today. Was a good day to book 2 dessert parties for our Xmas trip!

 

[jenng1983]

What site do you guys use to track the dollar? I look at Google's results, but they round it, and it drives me insane.

I'm also at a point where I'm wondering if I make a payment on my cruise now or wait a couple weeks. My deposit in May was $750, which wound up being $980 CAD. Ouch

 

[starvenger]

I use xe.com

 

[ilovetotravel1977]

What site do you guys use to track the dollar? I look at Google's results, but they round it, and it drives me insane.

I also use RBC's currency converter so I can know what I would get if I purchased US money from the bank.

 

[isabellea]

I use xe.com

Same. I have their app and widget on my iphone.

 

[csm101]

BOC is thinking about a interest rate hike in the next 2 weeks thats why the loonie is recovering.

 

[Susie63]

Even better news http://www.msn.com/en-ca/money/tops...ie-significantly-higher/ar-BBDMuGZ?li=AAgh0dA

 

[FigmentSpark]

Canadian Forex or Yahoo.

I check my bank before any purchases, as they might not have changed the rate, even if the rate is going up/down. Also, if you purchase on your credit card, check whether they charge the FX immediately, as of purchase date or if it's on settlement date, which can be a few days later.

 

[MoreTravels]

My bank cards (both ATM and CC) charge almost 3.5% more from the posted rate! It was around 1.30 yesterday...so I bought a Disney dining plan, and it shows up at 1.345 as the rate.

I think it's time to get a US$ CC.

 

[FigmentSpark]

The problem is that unless you have a way to buy cheap USD, you'll still pay 'bank rates' when you buy it from the bank. I've noticed that BMO doesn't change the rate as much as it seems to fluctuate on the market and they won't change it on a weekend, well, unless it's to their benefit.

 

[MoreTravels]

The problem is that unless you have a way to buy cheap USD, you'll still pay 'bank rates' when you buy it from the bank. I've noticed that BMO doesn't change the rate as much as it seems to fluctuate on the market and they won't change it on a weekend, well, unless it's to their benefit.

Actually, there is a way. It's a bit complicated but once you have done it, it's not that hard. It's called "Norbert's Gambit"

http://www.moneysense.ca/magazine-archive/norberts-gambit-a-better-way-to-buy-u-s-dollars/

Essentially, you need a stock trading account, let's say BMO Investorline. Then you buy a Canadian stock that is also listed in American markets. For example, DLR or Telus or Potash... You buy the stock in Cdn$ so you pay that stock in Cdn$. Then you call the stock trade customer service, ask them to journal it (ie, switch it to equivalent one at USD$) then you sell that stock in USD$. You will then get cash / bank draft in USD$ now.

With this method, there is no "mark up" What you see on the exchange rate quote, is what you will get 100%, except the sell and buy brokerage fees (most places charge $9 per trade).

 

[FigmentSpark]

Wow! Is there a minimum purchase, then?

 

[MoreTravels]

No minimum... but it will be only worthwhile in terms of time and trading fee, if you exchange something over $10,000. Otherwise, 3% fee difference is only $30 for $1000 exchanged. You will end up spending a hour or two to get it completely, only to save $30, then it's not worth it. But for $300, it would be.

 

[deedubb]

My bank cards (both ATM and CC) charge almost 3.5% more from the posted rate! It was around 1.30 yesterday...so I bought a Disney dining plan, and it shows up at 1.345 as the rate.

I think it's time to get a US$ CC.

Most credit cards tack on about a 2.5% fee when purchasing in the US. I have a Marriott Visa which does not, so I use that for everything I buy in the US, and in the end, I usually have enough points for a few free stays at Marriott hotels.

 

[ilovetotravel1977]

I just recently paid my deposits for WDW and US hotels. My CC bill dinged me for 5% on both transactions! Crazy.

 

[ottawamom]

I just exchanged $Cdn for $US at a local exchange place paid $1.3151. Went to deposit at BMO and the rate she quoted me was $1.32, the website has a rate of $1.3394. I don't think they update the website very often. I was happy with the exchange rate today and will pick up some more in the next week if things look more favourable.

 

[JenniKleims]

Just thinking...do you think it is worth it (right now) to pay off my WDW
I'm happy the dollar is getting better, but worried it may drop again before my payment is due...

 

[ottawamom]

Why not pay off part of your trip now and save a bit for later in case the rate gets even better. Exchange rates are a huge guess at the best of times.

 

[ilovetotravel1977]

Completed off topic: How do I make one of those countdown ticker things?

 

[Pkltm]

Thoughts on buying the dining this week? We are renting points so we need to add it by the end of August. The total US for us would be 1668.

I love getting opinions!!