I wish we could actually get the rate the TD bank economist is talking about. I've been tracking the USDCAD rates for the last month or so, and on this past Monday, the rate in the Wall Street Journal and on Yahoo Finance was just 89.77 cents. The headlines called it a four year low.
So I decided it was time and went down to my local bank, which happens to be TD Bank, to get a Canadian check, figuring I'd get something near a 10% discount on the money.
I forgot about the bank fees. Banks make a fortune in currency exchange. The best rate the bank had was 94.67 cents. So I got a 5% currency discount but end up paying the bank almost a 5% fee (or 5% more than the rates shown online) to buy Canadian currency.
A little more research indicated the 89 cent (going to 85 cent) rates from the internet are only for the big time companies with their own trading operations. If you have to use a bank, there is about a 5% fee on either side.
If you want to get an estimate of what its actually going to cost to change US in Canadian, Bank of America has a calculator on their website ( https://www.bankofamerica.com/foreig...y-converter.go
As of this morning, if you want to buy Canadian currency (perhaps to pay for your trailer), the price is about 94 cents. If you want to sell Canadian currency, the price is about 84 cents. Yahoo says the USDCAD relationship is at 89 cents. I should have been a bank.
On the bright side, the temp is over freezing today, My 21 went into production this week, it'll be done in March, and we're scheduled for an orientation on April 23.