Currency Exchange

[Calicofishing]

I didn't have to have an account either at Bank National just two IDs and no charge

[getthenet]

With the exchange rate at 30%,is it a good time to stash some money for next year's Kipawa trips ?

[john c]

@getthenet it could move either way, it's just a big gamble.

John

[Dog]

With the exchange rate at 30%,is it a good time to stash some money for next year's Kipawa trips ?

My guess is that so long as the price of oil stays low (which depresses Canada's economy due to less profits from sand flat production), the exchange rate will stay where its at. Since OPEC refuses to subside oil production in an effort to put the NA firms out of business by flooding the market, I don't see the price of oil dropping anytime soon... it's a buyers market on oil across the world (was in dubai last month and it was $0.13 gallon for diesel and $.08 gallon for petro!!!)
Plus, the US presidential election is coming up in 2016 and no incumbent party in their right mind would let the price of gas in America rise in an election year. That would spell automatic defeat for their party... so the USA price of gas will also stay down for political reasons (the adminstration will pull from reserves if it has to until the election is over), thereby maintaining the status quo for the exchange rate.

If I had to guess it'll be with +/- 5 cents of where it is right now during next summer...

[JigginFool]

I also was looking a the rates today and thought about picking some more up.  I'm heading up to Fort Erie in the next few weeks for dinner and figured I'd stop and cash in $1,000.  Then if it goes up next year I get more and if it goes down I'll feel good I got some now.  Dollar cost averaging.

[Canuckbass]

With the terrible rates for us Canadians, I sure won't be heading to Vegas or Florida this winter. May have to hit Mexico or Cuba again as I don't need much extra for all inclusive.